Ben Franklin Technology Partners sought to evaluate the impact of ImpactPHL Ventures, a collaborative $15M capital investment initiative launched to grow early-stage technology companies that are focused on social, environmental, and healthcare in Greater Philadelphia. The study evaluated how ImpactPHL Ventures has contributed to the region’s economic and social development over a five-year period, provided a comprehensive analysis of program outcomes, measured diverse impact metrics, and engaging multiple stakeholders in the process.
A multi-faceted approach provided a thorough impact analysis using a combination of qualitative and quantitative methods including:
Data Collection: Gathering relevant data from portfolio companies, including financial performance, social impact metrics, and stakeholder feedback.
Impact Measurement: Utilizing frameworks such as the United Nations Sustainable Development Goals and the Impact Management Project to categorize and measure impact.
Stakeholder Engagement: Conducting interviews and surveys with key stakeholders, including local investors, portfolio company founders, community leaders, and government officials which informed the analysis and ensured diverse perspectives were considered.
Final Analysis: Synthesizing data and stakeholder input to provide actionable insights and recommendations.
Key Findings: The analysis provided quantifiable results demonstrating that ImpactPHL Ventures significantly contributed to the local economy. By supporting 53 early-stage companies, which collectively raised over $174M in follow-on investments, 500 new jobs were created, and supported $50 million in new investments. Analysis of the social impacts revealed advancements in social and environmental impact areas, including health, education, and sustainability.
Impact on Client Decision-Making: The results were used by the client to refine their investment strategies and further focus support for minority-led businesses, which represented a higher percentage in the ImpactPHL Ventures portfolio compared to industry trends.
The comprehensive report provided recommendations for strategic investments in minority-owned/led businesses, and tools for simplifying impact tracking.