SALT LAKE CITY, UT (December 12, 2022) — Introducing Philo Studio, a novel Utah-based startup studio launched by Philo Ventures, to the Utah entrepreneurial ecosystem. The studio is designed to bring order to the business of new beginnings through the application of proven, repeatable processes and the dedicated attention of functional early-stage experts.
Through its purpose-built innovation platform, Philo Studio fuses new business ideas, internal capital, and entrepreneurial expertise to iteratively launch new startups with elevated levels of efficiency and success. With each launch, the studio taps into Utah’s deep pool of talent to organize the ideal team to drive long-term growth and success.
“We see a significant opportunity for improved outcomes through parallel entrepreneurship,”said Cory Cozzens, Philo Ventures founding partner and studio managing partner. “There’s a widely accepted thesis among VCs that capital is best placed in the hands of a repeat founder that has learned critical startup lessons through the school of hard knocks. As a studio, we’re able to programmatically apply highly-valued learnings from our past startups to each new venture we launch.”
The benefits of Philo Studio’s model extend well beyond parallel entrepreneurship though. The platform also includes a dedicated team with all of the capabilities required for zero-to-one innovation, as well as shared recruiting pipelines, toolsets and expert and investor networks. “Being able to pursue our passion for zero-to-one creation, without all the turmoil and inefficiencies that typically define that phase of creation, is both exhilarating for our team and productive for our portfolio companies,” said Cozzens.
“Our approach to the studio model was tailor made for Utah’s innovation community,'' said Chad Staheli, Philo Ventures founding partner and CEO. “Through our model, we’re able to tap into the immense talent coming out of this state’s universities and tech companies for key co-founder and operator roles, providing them with a level of active partnership, support, resources, and mentorship that they wouldn’t get in any other entrepreneurial setting. There are a significant number of incredibly capable individuals in our own backyard that have the ideas, passion, and training necessary to build new high-value ventures. We’re providing one more path to entrepreneurship for these folks.”
The studio’s recruited co-founders want to own — both figuratively and literally — Utah’s next big startups and see value in launching with a well-vetted idea and robust support infrastructure from day one. Participants grow through the incredibly challenging, and fulfilling, entrepreneurial process in an environment where the stability and support from early-stage capital and combined decades of hard-earned wisdom is systematically leveraged on their behalf.
In addition to launching internally incubated ideas, Philo Studio supports external companies and innovators who are ready to build the next big thing but lack the time or team to do it alone.Philo Studio is currently working with prominent local businesses to launch exciting new ventures in both the sustainable construction and automotive industries.
Interested businesses and entrepreneurs are invited to visit the Philo Ventures’ website at philo.ventures to learn more.
About Philo Ventures
Philo Ventures, a Utah-based venture group, offers a unique approach to driving early-stage innovation and economic growth through its three focused efforts: Philo Studio (new business ventures from inception to early operations), Philo VC (traditional venture capital) and Philo Development (real estate development).
Philo Ventures is headed by partners and serial entrepreneurs — Chad Staheli, Cory Cozzens and Greg Whitehead. Philo counts several notable Utah business leaders as advisory and capital partners, including Christian Gardner of the Gardner Group, serving as chairman of the Philo Advisory Committee, and Dan Shaw of Rustler Investments.
Philo Studio’s portfolio includes businesses in various industries, such as advanced aerospace tech, outdoor hospitality and sustainable infrastructure. Through its traditional venture efforts, Philo Fund has invested in notable early-stage Utah startups including Ovation, Skill Struck, andProject Solar; Philo Development has major projects underway throughout the state, including planned community developments in Kane and Wasatch counties.