Temple University partners Ben Franklin Technology Partners on $1m accelerator.

US-based Temple University is teaming with Ben Franklin Technology Partners to create a new accelerator.

Dubbed Temple Ventures – Powered by Ben Franklin, the accelerator will focus on starting up companies based on Temple’s intellectual property.

The accelerator will provider mentorship, support, and startup funding, along with workspace and commercialisation guidance. Both Temple and Ben Franklin have invested $500,000 each into the project, and have plans to continue to invest a further $1m per annum for the next five years, with both sharing in proceeds from investments and pushing it back into the project as part of an evergreen model.

Rose Ann Rosenthal, CEO of Ben Franklin, said: “Both Temple University and Ben Franklin were started by a vision that sought to fulfil the brilliant potential of the minds in this region. We’re delighted to work together in giving those minds the entrepreneurial resources to succeed.”