Foundation
and Penn State expand their research parks and to give start-up companies a
broader set of resources to aid in their development. The two institutions will
work with each other and businesses to commercialize technology.
Banking on the idea that the resources of two research parks are better than one, Penn State and Purdue University have established a one-of-a-kind collaborative agreement. The two institutions have joined forces to offer more staff and faculty expertise for new business start-ups and other research park tenants.
Both Purdue and Penn State have created new business incubators in their research parks to facilitate technology transfer initiatives and to foster the growth of developing companies.
According to the agreement, the purpose
of the relationship is to help both the Purdue Research Foundation
and Penn State expand their research parks and to give start-up companies a
broader set of resources to aid in their development. The two institutions will
work with each other and businesses to commercialize technology.
"There is a lot to be gained from this collaboration," said Karen Dickinson, associate director of prospect development for Penn State. "The networking opportunities and the exchange of ideas are two invaluable business tools the Penn State-Purdue partnership will provide."
Officials at both universities predict that not only will each state's economy gain from the agreement, but students will also benefit from the research experience provided and from the potential career opportunities that will be spawned.
The Penn State Research Park also could offer Purdue tenants the use of a conference center and meeting space closer to potential East Coast customers or vendors. Other possible areas of collaboration are advertising, promotions, staff training and the sharing of technical costs.
The two universities will kick off their partnership with a meeting at Purdue early this summer.