Two notable startup programs in Philadelphia are converging: The Department of Commerce has partnered with Philly Startup Leaders (PSL) for the next round of the City’s Venture Program grants, offering up to $150,000 in grants to be shared among entrepreneurs in PSL’s Founded in Philly accelerator program.

PSL announced the relaunch of its accelerator, with cohorts of entrepreneurs who are both in the “idea phase” of a new business and currently working on their startups, last summer. The first idea-stage cohort was chosen this winter and kicked off with a happy hour this week.

Also last summer, the City chose 13 companies (and 21 founders) to receive $170,000 in grants through The Venture Program, which aimed to fund tech startups run by entrepreneurs from socially or economically disadvantaged backgrounds.

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