Matt Rhodes awarded inaugural Beecher Loftus Technology Transfer Catalyst Award

UNIVERSITY PARK – The inaugural Beecher Loftus Technology Transfer Catalyst Award was presented at the 2025 Invent Penn State Venture & IP Conference, recognizing exceptional contributions to the commercialization of Penn State research-based technologies. This year’s recipient is Matt Rhodes, past entrepreneur-in-residence of the Eberly College of Science’s Office for Innovation and managing director of 1855 Capital, a seed and early-stage venture capital fund investing in companies in and around the Penn State community. 1855 Capital develops investment opportunities by actively engaging with current faculty/staff and students involved in world-class research efforts and the 700,000+ alumni network.   

A Penn State alumnus, Rhodes has cultivated strong ties to the Penn State research community and its external network. His collaborative approach is evident in his service on the College of Science Dean’s Advisory board and the Penn State Research Foundation Board, where he works closely with Penn State innovators. Through these collaborations, he facilitates the translation of research into impactful products and companies, significantly extending the reach of Penn State discoveries. 

In addition to his service to Penn State, Rhodes has had a distinguished career leading high-tech companies and startups. During his career, he served as president of Conexant, a publicly traded communications semiconductor company, and later as CEO of VC-backed Teranetics, where he secured $45 million in funding and positioned the company as a leader in high-speed communication semiconductors.  

Andrew Read, Senior Vice President for Research at Penn State, emphasized the importance of technology commercialization. “Bridging the gap between university research and industry application is essential for driving innovation and economic impact,” Read said. “We are grateful for this award and proud to recognize Matt Rhodes, whose dedication has significantly advanced Penn State’s commercialization efforts.” 

Reflecting on the award, Rhodes expressed gratitude for the recognition and reaffirmed his commitment to fostering innovation at Penn State. “This award has been earned by and is shared with the whole of Penn State’s entrepreneurial community,” Rhodes said. “Supporting the commercialization of university research is not just about business success; it’s about creating a supportive environment that can make a meaningful impact in Pennsylvania and beyond.” 

The Beecher Loftus Technology Transfer Catalyst Award was endowed through a gift from Patricia Beecher Loftus, a nuclear engineering alumna and member of the Penn State Research Foundation Board of Directors. It is an annually renewing endowment honoring individuals or teams—including faculty, staff, alumni, and industry partners—who have significantly contributed to the commercialization of university-generated technologies and the direct contributions or involvement of faculty members or research scientists. The nominated commercialization activities must also have contributed to the economy, quality of life, or welfare of society in Pennsylvania, the United States, or other nations globally. 

“Through technology transfer and commercialization, Penn State researchers make incredible contributions to society every day,” said Patricia Beecher Loftus. “This award recognizes and celebrates the innovators and individuals who act as force multipliers for the translation of discoveries into impact.  My hope is that this recognition inspires an entrepreneurial culture and continued collaboration between innovators, entrepreneurs, and industry partners to drive innovation forward.” 

By recognizing innovators like Matt Rhodes, the award aims to accelerate the transformation of cutting-edge research into real-world applications, furthering Penn State’s mission of impactful discovery and economic development. 

About Invent Penn State  

Invent Penn State is a commonwealth-wide initiative to spur economic development, job creation and student career success. Invent Penn State blends entrepreneurship-focused academic programs, business startup training and incubation, funding for commercialization, and university/community/industry collaborations to facilitate the challenging process of turning research discoveries into valuable products and services that can benefit Pennsylvanians and humankind. 

To learn more about supporting Invent Penn State through a philanthropic gift, contact Heather Winfield, director of campaign and university initiatives in University Development, at hbw11@psu.edu. 

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Invent Penn State was financed in part by a grant from the Commonwealth of Pennsylvania, Department of Community & Economic Development. 

About Penn State 

Penn State is a multi-campus, land-grant, public research University that educates students from around the world, and supports individuals and communities through integrated programs of teaching, research and service. Penn State is an R1 university, a classification given by the Carnegie Foundation for the Advancement of Higher Education to the very best research universities in America, reaching a record $1.337 billion in research expenditures during fiscal year 2023-2024. The University’s discovery-oriented, collaborative and interdisciplinary research and scholarship promote human and economic development, global understanding, and advancement in professional practice through the expansion of knowledge and its applications in the natural and applied sciences, social and behavioral sciences, engineering, technology, arts and humanities, and myriad professions. The University’s instructional mission includes undergraduate, graduate, professional, continuing and extension education, offered through both resident instruction and distance learning. Penn State’s educational programs are enriched by the talent, knowledge, diversity, creativity and teaching and research acumen of its faculty, students and staff. As Pennsylvania’s sole land-grant university, Penn State provides unparalleled access to education and public service to support the citizens of the commonwealth and beyond. The University engages in collaborative activities with private sector, educational and governmental partners worldwide to generate, integrate, apply and disseminate knowledge that is valuable to society.