Shenango is one of six to receive funding to begin new entrepreneurial endeavor

SHARON, Pa. — Penn State Shenango is the recipient of a $50,000 seed grant through the Invent Penn State initiative to expand entrepreneurial endeavors. The Shenango campus is one of six campuses recently named as part of the newest wave of entrepreneurial sites across the Commonwealth that are poised to become economic strengths in their region.

“We were delighted to learn that we were chosen to receive this grant,” said Jo Anne Carrick, campus director and chief academic officer at Penn State Shenango. “With this funding, we will be able to provide student entrepreneurs the facilities, equipment, and mentorship necessary for success. We look forward to working with the eCenter@LindenPointe to capitalize on their offerings, while bringing our faculty’s expertise to these entrepreneurial student teams.”

Invent Penn State is a Commonwealth-wide initiative that blends entrepreneurship-focused academic programs, business startup training and incubation, funding, and key regional partnerships for the benefit of Pennsylvania and beyond. These six new awards follow on the heels of six similar $50,000 grants awarded to Penn State campuses in 2015.

Penn State Shenango’s VenturePointe is a new entrepreneurial incubator that will cultivate startup resources for students interested in both not-for-profit agencies and for-profit businesses. The incubator also will invest in economic development. This new, student entrepreneurial resource center will be located in the eCenter@LindentPointe and will include space for networking, faculty experts, collaborating with the eCenter’s leadership, establishing internships, and enhancing technology by creating a Maker's Studio with 3D printing capabilities. Shenango students who have established a new agency as part of their upper-level human development and family studies course requirement and are interested in turning their projects into actual agencies will be among the first students to participate in VenturePointe. Penn State Shenango business students will also have an opportunity to participate.

"The process for awarding these six additional grants was very competitive,” said Madlyn Hanes, vice president for Commonwealth Campuses. “I congratulate the recipients who share a deep commitment to the economic well-being of their communities. They are connecting the talent of Penn State faculty and students with community partners to bring innovation and entrepreneurial activity to the regions we serve. The Invent Penn State initiative is a powerful driver of economic development."

Other campuses in addition to Shenango that are receiving funding in this latest round include Altoona, Berks, Great Valley, Schuylkill, and York.
Prior to this round of funding, Invent Penn State also awarded grants to the Penn State campuses of Abington, Behrend, Harrisburg, Lehigh Valley and New Kensington for collaborative economic ventures in their communities.

"VenturePointe is a great model for a partnership between a college and an incubator; students can develop their ideas for new businesses while in school and then implement their business plans with the help of our resources in the real world,” said Ketaki Desai, executive director, LindenPointe Development Corporation. “This is a key step toward building an ecosystem of innovation and entrepreneurship in our region, and we are very excited to start this new partnership with Penn State Shenango."

For more information on Invent Penn State, visit www.invent.psu.edu.

Last Updated October 13, 2016