Penn State opens new collaboration space for entrepreneurs
The Pennsylvania College of Technology on Monday announced the opening of a new space designed to support entrepreneurs seeking to turns their ideas into realities.
According to the university’s announcement, the new space inside the Invent Penn State LaunchBox & Innovation Network will “provide a wide array of low- to no-cost resources to innovators and startups.”
“Through the Invent Penn State initiative — supported by the Pennsylvania Department of Community and Economic Development (DCED) — Penn College is poised to advance regional economic vitality and innovation,” Penn College President Michael J. Reed said in the announcement. “The LaunchBox & Innovation Network is a statewide economic development engine, supporting entrepreneurs and startups through no-cost resources like collaboration space, prototyping tools, business mentorship and access to capital.”
According to the university, the innovation network has “engaged” more than 24,000 students and faculty and 8,300 entrepreneurs, leading to 770 internships and 708 jobs in the state.
The project is supported by donors including the Ken and Kristie Healy Foundation, Barbara B. Hudock and Paul and Tom Kerr. Kristie Healy, a human resource administrator at the clothing brand Woolrich, says in the announcement that the idea stemmed in part from hearing from people who wanted to start businesses but faced challenges in doing so.
“This is where it starts. Young entrepreneurs can come to a judgement-free zone with ideas and to talk about business development. We can’t imagine a better place than Penn College,” Ken Healy said in the announcement.
