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The Navy Yard Welcomes Delegation of Leaders from India Focusing on Biomedical Entrepreneurship, Technology, and Innovation

A delegation of biomedical leaders from India visited the Navy Yard on October 7 as part of a larger visit to understand biomedical entrepreneurship, technology, and innovation in the Philadelphia region.

During the visit, Navy Yard leadership briefed the group on the growing life sciences ecosystem, sustainability efforts, and future development plans at the Navy Yard. The group also enjoyed a guided tour to learn about the past, present, and future of the Navy Yard.

The Philadelphia tour was organized by Citizen Diplomacy International. Citizen Diplomacy International is a nonprofit organization that empowers its citizens to represent the city and the United States through person-to-person diplomacy. They showcase the best of Philadelphia and make global connections for Philadelphians; inspiring Philadelphia to be a global city and be globally recognized. Each year, its Citizen Diplomats volunteers welcome nearly 1,300 international visitors to Philadelphia on high school exchange programs, professional exchange programs, and trade missions.

Citizen Diplomacy International worked with the U.S. Department of State-sponsored exchange program called the International Visitor Leadership Program (IVLP).  The IVLP is the U.S. Department of State’s premier professional exchange program. Through short-term visits to the United States, current and emerging foreign leaders in a variety of fields experience this country firsthand and cultivate lasting relationships with their American counterparts. Each year nearly 5,000 International Visitors come to the U.S. on the International Visitor Leadership Program (IVLP). More than 200,000 International Visitors have engaged with Americans through the IVLP, including more than 500 current or former Chiefs of State or Heads of Government.

 

Dylan Langley, Navy Yard Director of Leasing & Development, briefs a delegation of biomedical leaders from India on the life sciences ecosystem at the Navy Yard. The group visited Philadelphia to better understand biomedical entrepreneurship, technology, and innovation in the region.

Dylan Langley, Navy Yard Director of Leasing & Development, briefs a delegation of biomedical leaders from India on the life sciences ecosystem at the Navy Yard. The group visited Philadelphia to better understand biomedical entrepreneurship, technology, and innovation in the region.

MED WEEK FEATURED IMAGE

Navy Yard Supports Diversity in Business Development through MED Week Workshop

The Navy Yard hosted to members of the Minority Business Enterprise (MBE) community for a Minority Enterprise Development (MED) Week workshop on October 7.

The workshop at the Navy Yard was part of more than 40 other events in the region during the 38th annual Philadelphia MED Week, which was organized by the City’s Department of Commerce Office of Economic Opportunity and recognized the outstanding achievements of MBEs and equipped them with resources and connections to help them grow. This year’s theme was Forging the Future: Growing Generational Wealth – “This is How We Do It!”

Philadelphia Councilmember Katherine Gilmore Richardson spearheaded the event at the Navy Yard with the goal of expanding MBE opportunities at the Navy Yard and said coming to events such as MED Week are valuable because these events can lead to new contracts and contracts are key to growing business. MED Week helps small businesses gain capital and opportunity.

During the event, PIDC and Navy Yard leadership along with executives from Ensemble/Mosaic (the exclusive developer of a 109-acre mixed-use development at the Navy Yard) spoke and provided resources to the participants and discussed how they could play a role in the future development of the Navy Yard.

As part of the 20-year, $6-billion-dollar development of the Navy Yard, PIDC and Ensemble/Mosaic are committed to a robust and holistic equity strategy that will deliver meaningful economic opportunities for minority- and women-owned businesses and traditionally under-represented individuals.

This commitment established a new standard at the Navy Yard and in development projects across the City. The agreement stipulates minimum obligations to promote equity and inclusion in the residential and retail development, including:

  • 15% of all residential units (representing approximately 450 units) will be made affordable to individuals or families at incomes ranging from 60% to 120% of AMI, with affordability covenant ensured for 40 years.
  • 25% of retail space will be made available for lease to local minority- and women-owned companies.
  • In addition, Ensemble/Mosaic has created The Navy Yard Empowerment Foundation, funded by ongoing contributions from each individual Ensemble/Mosaic project at the Navy Yard.

The Foundation is dedicated to providing education, job training, access to capital, mentorship, and wealth creation opportunities.

Philadelphia Councilmember Katherine Gilmore Richardson, Sam Rhoads (PIDC Executive Vice President), Brian Cohen (Ensemble Real Estate, SVP, Regional Director East), and Greg Reaves (Founder & Co-Owner, Mosaic Development Partners) speak address attendees of a Minority Enterprise Development (MED) Week workshop at the Navy Yard.

Philadelphia Councilmember Katherine Gilmore Richardson, Sam Rhoads (PIDC Executive Vice President), Brian Cohen (Ensemble Real Estate, SVP, Regional Director East), and Greg Reaves (Founder & Co-Owner, Mosaic Development Partners) speak address attendees of a Minority Enterprise Development (MED) Week workshop at the Navy Yard.