Yudichak and Senate Committee Hold Hearing on Innovation Economy | Business

Chaired by State Senator John Yudichak, I-14, Swoyersville, the Senate Community, Economic and Recreation Development Committee recently heard testimony about the Penn State Invent program.

After launching six years ago, the initiative – which encourages entrepreneurial ingenuity by helping new businesses grow and launch – has expanded to 21 locations statewide, including Hazleton.

In total, the program has created nearly 5,000 entrepreneurs in nearly 220 new businesses, as well as over 300 jobs for Pennsylvanians and nearly 500 internships.

“Invent Penn State inspires the entrepreneurial spirit of aspiring business leaders to bring innovative new products to market and create entirely new business ecosystems in Pennsylvania communities,” said Yudichak.

Participants at the hearing included Executive Director of the Downtown Hazleton Alliance for Progress, Krista Schneider.

Known as Innovation Hubs and LaunchBoxes, the facilities offer free services to everyone, whether or not they are affiliated with PSU. Today, 96% of Pennsylvanians have a LaunchBox or hub within 30 miles of where they live or work.

The $ 30 million initiative was designed to accelerate the movement of business concepts to market and have a substantial impact on economic development in Pennsylvania and beyond. Barron noted that Penn State invested $ 3 million per year to supplement the effort.

– Staff report

Source link