HomeBensalem TimesPenn Community Bank, Startup Bucks announce economic development partnership

Penn Community Bank, Startup Bucks announce economic development partnership

This new collaboration includes programming, critical funding for local startups

Penn Community Bank announced an exclusive partnership with Startup Bucks that’s aimed at supporting and growing the startup ecosystem in Bucks County. The collaboration brings together the largest mutual bank in eastern Pennsylvania and the Doylestown-based nonprofit to help entrepreneurs and small- to mid-size companies create local jobs, and drive economic and cultural growth in and beyond the region.

As part of the partnership, Penn Community Bank has provided a contribution of $60,000 to Startup Bucks to assist startups with resources, programming, networking and business grants to help strengthen and scale companies across the region as part of the Bucks Built Startup Fund.

Launched in 2020 and administered by Startup Bucks, with funding from the County of Bucks, Bucks Built invests $250,000 annually into 10 promising early-stage startups with innovative products or services that are designed to scale. Additionally, Penn Community Bank has committed to donating hundreds of professional volunteer hours to provide high-touch advisory services and guidance to entrepreneurs and small- and mid-sized companies. Businesses also have the opportunity to join Startup Bucks’ weekly educational forum, Founders 30 – Powered by Penn Community Bank, that serves as both a peer exchange and business mentoring program open to companies of any size.

The move is in line with the bank’s sharpened strategic focus for its charitable arm, Penn Community Bank Foundation, to address issues fundamental to creating community and economic opportunity and mobility across Bucks and Montgomery counties, and the Lehigh Valley.

“For 150 years, Penn Community Bank has played a vital role in developing our local economy by supporting businesses and empowering entrepreneurs. This new partnership with Startup Bucks is a natural fit with our mission and expertise,” said Jeane M. Vidoni, Penn Community Bank president and CEO. “We are excited to work alongside the County of Bucks and many other community stakeholders to support Startup Bucks and grow the region’s next generation of businesses.”

“We’re proud to team up with the region’s leading community bank on a new project to support the growth of innovative startups. The team at Penn Community Bank have shown an unmatched understanding of what enables innovative entrepreneurs to start and scale their business. Beyond their best-in-class business banking, lending and financial support, they are committed to providing the tools and resources that enable rapid and sustainable growth,” said Jon Mercer, Startup Bucks president. “This partnership not only benefits the region’s economy through accelerated business growth and job creation, but also consumers in the U.S. and internationally who will be able to access the products and services provided by startups like those in the Bucks Built portfolio.”

The next application window for the Bucks Built Startup Fund will be open in February and March. Full program details and criteria are available at bucksbuilt.com.

Founders 30 – Powered by Penn Community Bank takes place online every Wednesday from 9 to 10 a.m. Event schedule and registration can be found at founders30.com

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