Ben Franklin Technology Partners has received a grant from the John S. and James L. Knight Foundation to launch the incubator with Philadelphia Media Network, Inc. (PMN), owner and publisher of The Philadelphia Inquirer, Philadelphia Daily News, and philly.com. The strategic partnership will also include Drexel University, DreamIt Ventures and the Philadelphia Foundation.

Set to begin operation in September 2011, the program will provide four startup or early stage technology companies with a minimum of six months of office space -- at PMN’s offices at 400 North Broad Street – technical and administrative support, mentoring, and access to the Philly.com platform for launching their digital media “apps” or related products.

While Philadelphia Media Network will host the incubator and provide Philly.com as a platform for launching the new products, Ben Franklin Technology Partners will provide mentoring and strategic business counsel to the startups. Drexel University will provide graduate and undergraduate students with the unique opportunity to work with and move freely between the startup companies and PMN’s established media business. BFTP also will work with DreamIt Ventures, a nationally-renowned Philadelphia-based startup accelerator program, on a secondary seed and support program that will be ideal for providing a stream of potential qualified candidates. The program is being made possible through a $250,000 grant from Knight Foundation to Ben Franklin Technology Partners.