Blackstone Charitable Foundation Expands Campus Entrepreneurship Platform Bringing “Blackstone LaunchPad” to Pennsylvania

  Blackstone Charitable Foundation Expands Campus Entrepreneurship Platform
  Bringing “Blackstone LaunchPad” to Pennsylvania

Partnership between The University City Science Center, Temple University and
     Philadelphia University will Train Philadelphia’s Next Generation of
                                Entrepreneurs

Business Wire

PHILADELPHIA -- December 03, 2012

The Blackstone Charitable Foundation announced today that it is bringing
Blackstone LaunchPad to Pennsylvania to train Philadelphia’s next generation
of entrepreneurs. The Blackstone Charitable Foundation’s $3 million grant
establishes a partnership between the University City Science Center, Temple
University and Philadelphia University to introduce entrepreneurship as a
viable career option and provide university students and alumni with the
skills, knowledge, and guidance to transform new ideas into viable companies.
The Pennsylvania Blackstone LaunchPad programs are expected to generate some
100 ventures and hundreds of jobs over the next five years.

Blackstone LaunchPad replicates and implements a successful program developed
at the University of Miami in 2008, which has generated 85 start-up ventures,
210 new jobs and drawn nearly 2,000 participants. Since 2010, The Blackstone
Charitable Foundation has opened Blackstone LaunchPads on six campuses in
southeast Michigan and northeast Ohio. Each regional initiative will be linked
together, drawing ideas and best practices from more established programs, and
giving the student entrepreneurs at Temple and Philadelphia Universities
access to a stronger network of expert advisers for their ventures.

“Entrepreneurship is a job multiplier. Our economy cannot create jobs or
improve income quickly enough without more successful entrepreneurs. Through
Blackstone LaunchPad, we are proud to foster a new generation of entrepreneurs
who will transform local economies by creating new and innovative companies,”
said Blackstone’s Co-Founder, Chairman and CEO, Stephen A. Schwarzman.

From new facilities at Temple University and Philadelphia University,
Blackstone LaunchPad will multiply the connections between the campus,
business communities, and local entrepreneurs to create an environment that
nurtures young entrepreneurs and provides them the skills and network
necessary to succeed. Unlike traditional college curricular programs available
to limited school populations, Blackstone LaunchPad is open to all 41,000
students at Temple and Philadelphia University, regardless of major. Through
the campus and Science Center partnership, students and alumni will have
access to an expanded universe of resources and years of institutional
knowledge, helping them launch ventures that can take root locally and
strengthen the economy.

Philadelphia was chosen as the next region for a Blackstone LaunchPad because
of its critical need for economic growth and job creation. This coupled with
its dynamic entrepreneurial ecosystem, where talent is abundant, and a strong
set of support services are already in place made Philadelphia ripe for
Blackstone Launchpad. Temple and Philadelphia Universities are two schools
that already possess a rich entrepreneurial spirit, and as the first, and
largest, urban research park in the United States, the Science Center is a
natural partner for this initiative. Graduate organizations and current
residents of the Science Center’s Port business incubator have created more
than 15,000 current direct jobs in the Greater Philadelphia region and
contribute more than $9 billion to the regional economy annually. The Science
Center’s established relationships, network and preexisting experience
managing partnerships among various institutions make it well suited to manage
the Blackstone LaunchPad program in Philadelphia.

Funding for this program is made possible through The Blackstone Charitable
Foundation’s $50 million, five-year Entrepreneurship Initiative. Driven by the
urgent need for job growth in the United States, The Blackstone Charitable
Foundation seeks to support innovative projects and catalytic ideas that can
accelerate start-ups, job growth and economic activity. Due to the early
success of these programs and The Blackstone Charitable Foundation’s
commitment to expanding LaunchPad to five new regions over the next five
years, LaunchPad has been recognized by President Obama’s “Startup America
Initiative.”

What They Are Saying: A Quote Roundup

Governor Tom Corbett

"We are working hard to create jobs for workers today, but we must nurture
tomorrow's companies and job creators. We want firms that can grow and succeed
right here in Pennsylvania. Blackstone LaunchPad encourages our most talented
students to learn about entrepreneurship and begin their careers here. It's
the kind of program that deepens Pennsylvania's status on the entrepreneurship
map."

Mayor Michael A. Nutter

"We are very excited that Blackstone has chosen Philadelphia as the next
location for the 'Blackstone LaunchPad' initiative," said Philadelphia Mayor
Michael A. Nutter. "Philadelphia has all of the assets necessary to be an
entrepreneurial hub and is fast becoming a place of choice for innovators,
makers and founders. Blackstone LaunchPad - coupled with our new Startup PHL
initiative - are just the latest efforts to support entrepreneurs, small
businesses, and job creation in Philadelphia. Congratulations to Blackstone,
the Science Center, Temple University and Philadelphia University on this
exciting new initiative."

Senator Bob Casey

“Small businesses are the backbone of our economy, so the LaunchPad program of
the Blackstone Charitable Foundation is a wonderful opportunity for future
entrepreneurs in Philadelphia,” said Senator Casey. “In Pennsylvania alone
there are nearly 250,000 small businesses – four out of every five firms in
the state. That’s why it’s important to give students the resources they need
to turn their entrepreneurial ideas into real, successful businesses.”

Senator Pat Toomey

“Our system of free enterprise needs – and thrives on – those individuals who
are willing to innovate, take risks and start new businesses. They pave the
path to more and better jobs and a stronger, healthier economy in Southeast
Pennsylvania. I’m pleased that The Blackstone Charitable Foundation is
partnering with some of the city’s finest universities to make this investment
in Pennsylvania’s entrepreneurs and future job creators.”

Congressman Chaka Fattah

Congressman Chaka Fattah (D-PA-02), a champion for entrepreneurship as senior
Democrat on the House Appropriations Committee’s subcommittee for commerce and
scientific research, joined the announcement ceremony to welcome the
Blackstone Charitable Foundation to Philadelphia.

“Entrepreneurs are the men and women who will lead us to winning the future in
a competitive global economy,” Fattah said. “Blackstone LaunchPad is
entrepreneurship squared, infusing these outstanding educational institutions
with the blueprint and the means to train today’s brightest students for
economic and manufacturing leadership tomorrow. Thanks Blackstone: Planting
LaunchPad in Philadelphia is the right move in the right place.”

Stephen S. Tang, President and CEO of University City Science Center

“At the Science Center we excel at developing communities  and  making
connections. We look forward to connecting the community of student
entrepreneurs at Temple and Philadelphia University to the advisers and
networks that will help them develop their ventures and their skills," said
Stephen S. Tang, Ph.D., MBA, President and CEO of the University City Science
Center. “We hope the connections these student entrepreneurs make and the
networks they build through the Blackstone LaunchPad program will give them
one more reason to remain in the region after they graduate.”

Richard Englert, Acting President of Temple University

"The Blackstone LaunchPad is a tremendous opportunity for Temple University.
This initiative will significantly enhance our ability to spread
entrepreneurship across campus, and work with significantly more students to
develop their entrepreneurial thinking and skillsets. As a result, our
students will be well positioned to recognize entrepreneurial opportunity and
develop their own ventures while creating jobs for Philadelphia, Pennsylvania
and the nation," said Acting President Richard M. Englert.

Stephen Spinelli, President of Philadelphia University

“Blackstone LaunchPad’s leadership in entrepreneurship partnered with
Philadelphia University’s leadership in innovation will be a powerful
combination to create new opportunities for our students to become
entrepreneurs and amplify their impact on our economy and the world,” said
Philadelphia University President Stephen Spinelli Jr., Ph.D. “Our partnership
with Blackstone will create a new hub for Philadelphia’s entrepreneurial
assets, further enabling our students to become the leaders of tomorrow.”

About The Blackstone Charitable Foundation

The Blackstone Charitable Foundation was founded at the time of The Blackstone
Group’s Initial Public Offering in 2007 with substantial commitments from the
Firm’s employees. Influenced by the enterprising heritage of the firm and its
founders, The Blackstone Charitable Foundation is directing its resources and
applying the intellectual capital of the firm to foster entrepreneurship in
areas hardest hit by the global economic crisis. Through its investment
expertise across several asset classes and geographies, Blackstone has a
unique perspective on the global economy and a heightened understanding of how
entrepreneurial activity is often the crucial catalyst in the growth of
successful businesses, industries and communities. (For more information, see
www.blackstone.com/CharitableFoundation.htm)

About University City Science Center

The University City Science Center supports entrepreneurship, innovation and
technology commercialization in the life sciences and emerging technologies by
providing office and lab space, access to investors and business-building
advice, and a community of entrepreneurship and innovation. Together, this
support helps companies move technology into the marketplace where it can have
a positive impact on people’s lives. Established in 1963 and headquartered in
Philadelphia, PA, the Science Center is the oldest and largest urban research
park in the United States. Graduate organizations and current residents of the
Science Center’s Port business incubator have created more than 15,000 jobs
that remain in the Greater Philadelphia region today and contribute more than
$9 billion to the regional economy annually. The Science Center will celebrate
its 50^th anniversary in 2013. For more information, go to
www.sciencecenter.org.

About Temple University

Temple University is one of the leading urban public comprehensive research
universities in America. Founded in Philadelphia in 1884 by Russell Conwell,
Temple now enrolls nearly 39,000 students at campuses on three continents. The
university offers more than 300 degree programs, making it the nation's 28th
largest university and fourth largest provider of professional education.
Temple is dedicated to offering an excellent education that is both accessible
and affordable.

About Philadelphia University

Philadelphia University, founded in 1884, is the model for professional
university education in the 21st century. Today, it is a private university
with 3,600 students enrolled in more than 60 undergraduate and graduate
programs in the innovative Kanbar College of Design, Engineering and Commerce;
the College of Architecture and the Built Environment; and the College of
Science, Health and the Liberal Arts, as well as in the School of Continuing
and Professional Studies. With its award-winning curriculum and outstanding,
collaborative and state-of-the-profession faculty, Philadelphia University
prepares students to be leaders at every level of their careers through its
Nexus Learning approach – active, collaborative, connected to the real world
and infused with the liberal arts. It is an approach that focuses on
innovation and providing students with an academic experience that will give
them a real competitive advantage. For more information, go to www.philau.edu.

Contact:

The Blackstone Group:
Christine Anderson, 212-583-5263
Public Affairs
christine.anderson@blackstone.com
or
The University City Science Center:
Jeanne Mell, 215-966-6029
VP Marketing Communications
jmell@sciencecenter.org