By the Numbers

Success Through Partnerships

Launched in 2015, Invent Penn State spurs economic development, job creation, and student career success by blending entrepreneurship-focused academic programs, business startup training and incubation, funding for commercialization, and university/community/industry collaborations that facilitate the process of turning research discoveries into valuable products and services. Below you can find research, tech transfer, industry partnerships, and innovation hub network activity and outcomes data from the start of the initiative through 2019.

*Two types of startup activity are reflected below–research-based tech transfer and community innovation hub activity

 

 

Tech Transfer

Interdisciplinary Research Prowess

Penn State’s longstanding investment in its interdisciplinary research institutes has created a University-wide culture of collaboration that differentiates Penn State’s research enterprise from its peers and enables us to address our world’s most difficult challenges.

*Research expenditures reported on a fiscal year basis, July-June

 

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Research Expenditures
Since 2015 Penn State has eclipsed $3.5 billion in research expenditures. More than 5200 researchers work across colleges, institutes, and disciplines.
2015-16 $836M
2016-17 $863M
2017-18 $921M
2018-19 $968M
Total $3.588 Billion
Technology Transfer
From patents and licenses issued to affiliated startup licenses granted, Penn State is rapidly growing and advancing its technology transfer pipeline.

*The Penn State research and tech transfer data on this page was provided by the Office of Technology Management. The data covers the Invent Penn State initiative through the most recent reporting year (2015 – 2019) and reflects adjusted data as of 2/11/2020.
Patents Issued Licenses & Options Startup Licenses & Options
2015 37 24 8
2016 40 20 6
2017 66 32 8
2018 48 15 7
2019 58 7 2
Total 239 98 31
Industry Research Projects
Penn State engages in hundreds of industry projects across a wide variety of industry sectors each year.
Average per Year 500
Innovation Hub Network | LaunchBoxes

Driving Entrepreneurial Success

Invent Penn State provided seed grant funding for 21 downtown Innovation Hubs, including 14 LaunchBoxes, offering resources like coworking space, accelerator programs, legal and IP advice, and rapid prototyping—all free to the community, and all driving innovation and economic growth.

View the Network

Assisting Entrepreneurs
Through accelerator programs, legal clinics, and other services the innovation hub network reaches thousands of student, faculty, and community entrepreneurs
Entrepreneurs Assisted 2,516
Students Engaged 7,143
Faculty/Staff Engaged 948
New Startups and Products
Since 2015 accelerator programs like “Idea TestLab” and “FastTrack Accelerator” supported new business startups, and high-tech makerspaces supported new product development projects.
New Startup Program Graduates 224
New Product Development Projects 208
Job Creation
Accelerator programs, no-cost legal and IP advice, and connections to pitch competitions and other funding sources speed the formation of companies, valuable internships, and new jobs.
Internships Created 380
New PA Companies 122
Jobs Created 146.5
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