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invent.psu.edu
invent.psu.edu
Speakers
Vern Squier, CCE
• President/CEO
• Chamber of Business & Industry of Centre County
(CBICC)
Jeff Fortin, Ph. D.
• Associate Vice President for Research, Director of
the Office of Industrial Partnerships
• The Pennsylvania State University
invent.psu.edu
Multi-Year Effort
invent.psu.edu
Imbalanced Economy
1998 Employer Data 2012 Employer Data
Data from CDT “Business Matters” January 1999 & February 2013
invent.psu.edu
Recruitment
• Livable wage-paying jobs to
compliment the existing
economy
• Families and residents to the
area
• Companies, jobs, paychecks
Retention
• Existing institutions and
companies
• Young professional and
graduates of the university
• Talent, ideas and intellectual
property
Entrepreneurial
Development
• Capitalize research from
University
• Inspire business growth and
startups
• Enhance quality of life as a key
economic driver
Three Pillars of Economic
Development
invent.psu.edu
Change/Solidify Mindset
invent.psu.edu
Memorandum
of Agreement
Signed May 1, 2015
invent.psu.edu
Invent Penn State
“Penn State will be a driver for job
creation, economic development and
student career success.”
Eric Barron, President
Penn State University
Thematic Areas:
• Transforming our ability to promote
economic development
• Increasing external visibility of our
intellectual property
• Creating capacity and capability to
develop startups and to attract
companies
• Enhancing an already strong path to
student career success
Fulfilling our land-grant mission in the 21st century
invent.psu.edu
invent.psu.edu
Community
Responsibility
invent.psu.edu
University
Perspective
invent.psu.edu
Communication
invent.psu.edu
Invent Penn Sate Team
Development and
Alumni Relations
invent.psu.edu
Get Focused
Recruitmen
t
invent.psu.edu
MOA
Implementatio
n and Impact
invent.psu.edu
Ready or not..
Multi-Element response
Fortune 100 Major Global Company
New business model: product ideas and
development through co-creation
Requirements
• Community of enthusiasts, experts, and
designers
• University partnership – students, talent,
ideas, support
• 25,000 ft2 of space for a makerspace
Opportunity
invent.psu.edu
Ready or not..
Strategic partnerships: Morgan Advanced Materials R&D
Center
invent.psu.edu
Examples:
• Medical Device Company
• Fortune 100 Companies
invent.psu.edu
Sheri Collins
Deputy Secretary for Technology & Innovation
PA Department of Community and Economic
Development
“…you never know what’s going to happen when a
university partners with an Economic Development
organization…this last year has been really exciting to
watch from Harrisburg area. A lot of times people will
talk about the power of partnership…It’s very easy to
talk about it, but the reality is that Penn State is
actually doing it.. and they’re doing it with
organizations like (CBICC/CCEDP).”
invent.psu.edu
Questions?
Vern Squier, CCE
President/CEO
Chamber of Business & Industry of Centre County (CBICC)
Jeff Fortin, Ph. D.
Associate Vice President for Research, Director of the Office of
Industrial Partnerships
The Pennsylvania State University
invent.psu.edu

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