{"id":601,"date":"2015-08-27T15:16:11","date_gmt":"2015-08-27T19:16:11","guid":{"rendered":"https:\/\/www2.law.temple.edu\/10q\/?p=601"},"modified":"2015-08-27T15:16:11","modified_gmt":"2015-08-27T19:16:11","slug":"innovation-in-philadelphia-a-conversation-between-ajay-raju-and-christopher-wink","status":"publish","type":"post","link":"https:\/\/law.temple.edu\/10q\/innovation-in-philadelphia-a-conversation-between-ajay-raju-and-christopher-wink\/","title":{"rendered":"Innovation in Philadelphia: A Conversation Between Ajay Raju and Christopher Wink"},"content":{"rendered":"

On Friday, May 15, Ajay Raju<\/a> (TEMPLE \u201992; LAW \u201996), Executive Chairman and CEO of Dilworth Paxson, LLP, and Christopher Wink (CLA \u201908), co-founder of Technical.ly<\/a>, met for a wide-ranging conversation about technology and innovation in Philadelphia. Jonathan Lipson<\/a>, the Harold E. Kohn Chair and Professor of Law at the Temple University Beasley School of Law, facilitated the discussion. The participant\u2019s comments and opinions have been edited for clarity and organized under topics or themes of conversation.<\/p>\n

Editor’s Note:\u00a0The below conversation is\u00a0part one of two. You can read part two of this conversation here<\/a>.\u00a0<\/em><\/p>\n

Jonathan Lipson (JL):\u00a0How would you characterize the current state of Philadelphia\u2019s tech scene?<\/em><\/strong><\/p>\n

Christopher Wink (CW)<\/strong>:\u00a0The Philly tech scene\u2019s story is representative of a broader national narrative about the future of urban technology communities. Technical.ly is publishing in five markets throughout the mid-Atlantic corridor<\/a> (Baltimore, Brooklyn, Delaware, Philadelphia, and Washington, D.C.). Across these markets, there is a broader conversation occurring about how old, industrial cities can find their niche in the new knowledge-based economy<\/a>. All businesses, regardless of the core product or service they produce, will need technologists. Philadelphia is preparing for what is happening by focusing on what it means to be \u201cthe best version of itself.\u201d Philadelphia\u2019s educational institutions provide an excellent competitive advantage, but they are not enough.<\/p>\n

Ajay Raju (AR)<\/strong>:\u00a0There are two conversations happening in Philadelphia right now. The first conversation is a lament over the decline of the industrial revolution, a chorus of complaints that the end of our manufacturing economy some four decades ago has left Philadelphia moribund. This is not a productive conversation. Yes; that era is over, it has been over, and it\u2019s simply not going to come back.<\/p>\n

The second conversation, which many of us are hollering to make audible over the drone of the first, is about Philadelphia\u2019s future. It\u2019s a conversation about how to make Philadelphia a new hotbed of the knowledge revolution. This is a revolution that began in \u2013 and literally reshaped \u2013 Silicon Valley in the 1960\u2019s, and there\u2019s now a growing chorus of voices in Philadelphia asking, \u201cWhy not? Why can\u2019t we plant those same seeds of revolution here, and reshape our region?\u201d As revolutions go, this certainly wouldn\u2019t be our first, but we don\u2019t even have to look as far back as 1776 for proof that this city is capable of economic and cultural upheavals.<\/p>\n

In the 1980\u2019s, after more than twenty years of deindustrialization, white flight, and poor economic indicators by every metric, Bill Rouse came along and quite literally reconfigured Philadelphia\u2019s very landscape. When Rouse broke the gentleman\u2019s agreement against buildings taller than the William Pen Statue atop City Hall and constructed Liberty Place, he ushered in a new era of development and revitalization in Center City. His audacity created an environment where players in the legal, finance and real estate sectors could find common ground and thrive. Arguably, the culmination of Rouse\u2019s vision for Philadelphia manifested in the Comcast Center, which now serves as the centerpiece of Philadelphia\u2019s skyline, and the nexus of our region\u2019s knowledge revolution. With the investment, the talent, the attention, and the energy that Comcast\u2019s presence has attracted, it\u2019s as if we\u2019re in the midst of a supercharged energy field right now, and the only question is how do we best harness and direct that energy.<\/p>\n

JL:\u00a0Something you both touched on in different ways is the role educational institutions can play in urban wealth creation. <\/em> Philadelphia has one of the highest concentrations of college students in the country, so why are we not Boston or Palo Alto? After all, the first computer was developed in Philadelphia. <\/em><\/strong><\/p>\n

AR<\/strong>:\u00a0Colleges and universities in Philadelphia grant more degrees than Boston. If this is a surprising fact, it\u2019s only because we\u2019re not deploying those degrees here in our own region, so there\u2019s no evidence of it. We have historically failed to sow and cultivate these powerful seeds of knowledge because we have not yet built an ecosystem where they can thrive. Instead, the best and brightest educated right here in Philadelphia head off for the greener, more fertile territories of Silicon Valley, New York and those few other regions where their chances to thrive are most promising. What we must do is build that ecosystem. We need to fertilize Philadelphia with capital, with expertise, with civic and governmental support. This is the only way to ensure that our best minds put down roots here in our backyard.<\/p>\n

CW<\/strong>:\u00a0When we talk about the missing pieces of Philadelphia\u2019s ecosystem, access to capital gets a lot of attention, but I don\u2019t think that is the whole story. The innovations of the past 20 years have dramatically reduced the barriers to founding a company. This means that nascent businesses and potential founders are looking at where talent wants to live when deciding where to locate. Capital is much more mobile<\/a> than the cultural institutions that give Philadelphia a competitive advantage, but addressing access to capital alone will not fill all of the holes in our ecosystem.<\/p>\n

AR<\/strong>:\u00a0I agree. If by \u201ccapital\u201d we\u2019re referring only to money, that won\u2019t get us to a sustainable ecosystem. Granted, we won\u2019t get anywhere at all without money, but capital alone isn\u2019t enough. We need capital that\u2019s tied to expertise, that\u2019s bound up with influence, and above all, accompanied by a desire to spark a revolution in Philadelphia.<\/p>\n

CW<\/strong>:\u00a0Unfortunately, we have a fairly short local bench of seasoned entrepreneurial mentors. It\u2019s great that Josh Kopelman<\/a> is in Philadelphia, but he is an exception. In full disclosure, Technical.ly works out of his fund, First Round Capital\u2019s, space in University City. Some of the people who worked at And 1, which was based in Paoli for much of the 1990\u2019s, have also stuck around. There are plenty of questions about whether there are ways to speed up the development of an ecosystem, but most of them go back to questions about how to make Philadelphia an attractive and economically viable place for this group of people to live.<\/p>\n

Read part two of this conversation here<\/a>.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, May 15, Ajay Raju (TEMPLE \u201992; LAW \u201996), Executive Chairman and CEO of Dilworth Paxson, LLP, and Christopher Wink (CLA \u201908), co-founder of Technical.ly, met for a wide-ranging conversation about technology and innovation in Philadelphia. Jonathan Lipson, the Harold E. Kohn Chair and Professor of Law at the Temple University Beasley School of<\/p>\n","protected":false},"author":5,"featured_media":603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,13,28,20],"tags":[],"coauthors":[56],"class_list":["post-601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alumni-authored","category-business-law-practice","category-spotlight","category-technology","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"\nInnovation in Philadelphia: A Conversation Between Ajay Raju and Christopher Wink - The Temple 10-Q<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/law.temple.edu\/10q\/innovation-in-philadelphia-a-conversation-between-ajay-raju-and-christopher-wink\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Innovation in Philadelphia: A Conversation Between Ajay Raju and Christopher Wink - The Temple 10-Q\" \/>\n<meta property=\"og:description\" content=\"On Friday, May 15, Ajay Raju (TEMPLE \u201992; LAW \u201996), Executive Chairman and CEO of Dilworth Paxson, LLP, and Christopher Wink (CLA \u201908), co-founder of Technical.ly, met for a wide-ranging conversation about technology and innovation in Philadelphia. 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