At PSL we are ready to put summer behind us and welcome September with a calendar full of opportunities and events that will push all of us forward in
our goals🚀 Are you ready? Sit back, grab a cup of coffee, and enjoy the latest news and updates from Philly Startup Leaders!
Featured Events🎟️
PSL EVENT: Welcome Wagon - Wednesday,
September 6th.
Our August Welcome Wagon on 8/2 sold out TWICE if you count the overflow tickets we added🎉. If
you’re not already familiar with Welcome Wagon, this series - the first Wednesday of every month - is designed for those new to the Philly startup scene, or the city in general, and aims to introduce newcomers to key resources and fellow founders in the region. Attendees are invited to “quick pitch” the community to introduce themselves and their startup, offer up services, extend mentorship, or announce a job search. BIG shoutout to Founder Institute for their generous sponsorship of August and September’s Welcome Wagon!
The Founder Institute provides a global support network and a proven methodology to get your startup to traction and funding.
Speaking of which, if you want to join us for our September Welcome Wagon this coming Wednesday September 6, also in partnership with Founder Institute, you can register here.
PSL TURNS 15
YEARS OLD THIS FALL! 🎂
As part of the celebration of its 15 Year Anniversary, Philly Startup Leaders is proud to announce a new initiative: The Legacy Leaders Council was formed to honor the early work of leaders in our community and to inform the future of this organization's future endeavors. Created by founders for founders, Philly Startup Leaders is
the largest startup community in the region. PSL, a 501(c)3 nonprofit, connects, convenes, and navigates entrepreneurs to the resources they need to succeed in Philadelphia and beyond. Meet
our inaugural members and explore our vision in Philly Business Journal’s feature on the PSL LLC here.
MeetKarline Depass - a true beauty industry enthusiast!
💌 From a young age, Karline knew her future would be all about beauty. During her college years, she discovered her entrepreneurial spirit by braiding hair to earn some extra cash. For the past 17
years, Karline has worked in the beauty industry, starting from the front desk and eventually owning her own spa. However, after losing employees to the rise of solo entrepreneurs, she wanted to create something that would help spa and salon owners transition from having W-2 employees to renting out their space to beauty professionals. That's how Spabilaty was born - an end-to-end rental management software for beauty landlords. Karline's mission is to support beauty professionals in achieving
sustainable careers and to make the beauty industry a better place for everyone!
PSL recently hosted an Investor Roundtable where founders participated in a "think, pair, share" exercise to work through
real-world complications that startups face during fundraising and in financial downturns. This was done under the guidance of our hosting investors, Osage Venture Partners, at the Tactix offices. The interactive nature of the event allowed for valuable discussions and insights from both the investors and founders. We're grateful
to Osage Venture Partners for their support in making this event a success and for their continued commitment to the success of the startup community. Stay tuned for more events like this in the future!
Some takeaways from the session:
Overall theme: Managing cash in an uncertain funding environment, but one that we know values capital efficiency over growth at all
cost; and leading through uncertainty
Focus on extending runway to have more time to build a solid business with strong metrics:
Cut costs– e.g. review all non-labor expenses (IT, rent, 3rd party services) and rank order importance, making cuts after; remove unnecessary costs (e.g. software that isn’t being used) or replace with lower cost options; negotiate vendor contracts; evaluate
labor costs with a zero-based budget; reduce salaries.
Increase revenue (from core business or alternative sources) – e.g. price increases with happy customers, upsell additional products to existing customers, consider new revenue sources (e.g. consulting services from experts on your team).
Optimize cash flow dynamics – e.g. negotiate vendor contracts (e.g. freeze
outsourced tech teams); approach vendors about vendor financing; change billing structure to ask for upfront payments.
Find funding – consider non equity funding such as debt or non-dilutive capital).
Featured Investors: Emily Foote & Jon Gulardo
👩💻 Emily is a Partner at Osage Venture Partners, an early-stage venture firm focused on the future of work and education B2B software companies. Emily joined OVP after co-founding Practice which was acquired by Instructure in 2017. At Instructure, Emily was VP of Strategy and Customer Success. P or to her entrepreneurial career, Emily spent two years practicing education law and five years as a Teach for America and KIPP
classroom teacher. Emily is a graduate from the University of Penn, Penn Graduate School of Education, and Drexel University Kline School of Law. She is currently an adjunct professor at Penn GSE.
👨💻 Jon joined Osage Venture Partners as an Analyst in 2018, after completing two six-month internships with the firm in 2016 and 2017. He was named Associate in 2021. Jon focuses on sourcing new
investment opportunities, leading diligence efforts, and providing portfolio support as a Board Member and Observer. Previously, Jon interned for Susquehanna International Group working on the trading floor as an Operations Analyst in Bala Cynwyd, PA. During college, Jon served as President of the Student Board of Philly Startup Leaders where he helped build a new community for aspiring entrepreneurs and startup leaders in Philadelphia. Jon graduated summa cum laude from Drexel University
with a B.S. in Business and a minor in Entrepreneurship.
The companies they invest in go from:
Early stage
Post revenue (typically @ $500K-2M in ARR)
B2B Software Companies
Focused on solving future of work and future of education problems
Tuesday 8/29 - Build Like You're Bootstrapping with Dante Pannell: Self Care is Not Selfish
💥And that's your monthly round up!
Thank you so much for all the support and love you bring to this community🫂. We are so excited to keep growing with you on September. Take care, we hope to see you soon!
