University of Pennsylvania President Amy Gutmann announced the launch of the Penn Center for Innovation, a new initiative that will provide the infrastructure, leadership and resources needed to transfer promising Penn inventions and related assets into the marketplace.
“The Penn Center for Innovation will maximize our mission as a research university of putting knowledge into practice for the good of our community and society,” said Penn President Amy Gutmann. “‘Pennovation’—our ability to advance both basic discovery and the society-improving applications those discoveries enable—makes Penn a leader in this vitally important field. The Penn Center for Innovation also will transform our region’s capacity to support an ecosystem of innovative entrepreneurs, companies and workers all making essential contributions to our collective economic future.”
The Penn Center for Innovation consolidates and unifies the University’s Center for Technology Transfer with other campus organizations devoted to the commercial advancement of University research and development, allowing for a more streamlined experience for Penn researchers and potential business and industry partners.
In 2007, Penn established the UPstart Company Formation Program, a model for University venture creation. UPstart now boasts a portfolio of over 50 companies, including Nelum Sciences, which develops transparent coatings that keep solar panels clean; CytoVas, developing high-throughput diagnostic tests for patients at high risk for cardiovascular disease; Graphene Frontiers, commercial scale production of high quality graphene sheets; and RightCare Solutions, which produces software packages designed to ensure patients are healthy enough to leave the hospital before they are discharged.