Penn State has introduced Lehigh Valley LaunchBox, a new University and community sponsored business accelerator program created as part of the Invent Penn State initiative. Invent Penn State is focused on leveraging Penn State’s research, knowledge and entrepreneurial spirit to bring to market needed ideas, products and services.
Penn State President Eric J. Barron and Penn State Lehigh Valley Chancellor Tina Q. Richardson held a ribbon cutting today with City Center Lehigh Valley President J.B. Reilly and local dignitaries for the co-working space of Lehigh Valley LaunchBox at Velocity, City Center Lehigh Valley’s startup business incubator in downtown Allentown.
Barron presented Penn State Lehigh Valley with a seed funding award for $50,000 to initiate the program. Penn State Lehigh Valley is one of only six Penn State campuses that received these funds to enhance local partnerships and entrepreneurial environments as part of Barron's Invent Penn State initiative.
"Penn State Lehigh Valley has had historically strong and close ties to industry, business partners and the local community. These collaborative relationships offer a wonderful opportunity to promote economic development and entrepreneurship in this region,” said Barron. “I look forward to seeing how this seed funding will inspire innovation to further benefit students, faculty, staff, the business community, and all of the entrepreneurs working among us.”