How government grants fueled our product launch
Entrepreneurs want to make a difference.
When we started Actuated Medical (AMI), we knew the right technologies integrated into the right medical devices would help patients. We had big ideas and devices we were pursuing but then Paul Frankhouser said, “You know what you need to do? You need to clear clogged feeding tubes.”
We knew that was a great idea but we had no money to develop the device on our own. Angel and VC investors were not willing to fund us because the idea was too early and unproven. Ben Franklin provided seed funding the year before but could not offer anything additional.
So where could we find money? The National Science Foundation and the Small Business Innovation Research (SBIR) program to the rescue! TubeClear was on its way!
After posting spectacular growth for seven years, Schoolwires announces merger with Blackboard Inc.
By Eileen Wise
When Founder and Chairman of Schoolwires, Ed Marflak, started the company in April of 2000, he knew he had a good idea, a strong team, and a clear vision. But he did not foresee just how rapidly the company would grow—at a rate of 20-30% annually. For the past seven years in a row Schoolwires has been ranked by Inc. Magazine as one of the fastest growing privately held companies in the US.
Just a few hours from 20 percent of the country’s manufacturing and industrial infrastructure, a few blocks from campus, and a bike ride away from home, there’s no place else KCF Technologies would rather be.
By Jodie Dello Stritto
Born out of Penn State’s Center for Acoustics and Vibration, KCF is a true story of technology transfer or, as CEO Jeremy Frank said, “taking ideas from the lab to the world.” It’s a process that’s not for the weak in spirit.
Listen to Frank tell KCF’s history and you’ll learn it requires determination, flexibility, support and at times, even a little soul-searching. After some highs, lows and a couple of key pivots, KCF is making it work by relying on its core expertise and continuing to keep close ties with the university and the resources it offers, Frank said.
On January 8th, Penn State President Eric Barron announced that the university will be investing $30 million in economic development and student career success. As you know, Innovation Park is home to the Ben Franklin TechCelerator & incubator program and the SBDC, and is a hub of entrepreneurship and business partnership. A renewed commitment from PSU will further increase visibility for the park and help entrepreneurs turn their ideas into reality. This investment includes a one-time, start-up and capital investment as well as annual funding of more than $5 million. Barron hopes that this new investment will make Penn State “a driver for job creation, economic development and student career success.”
Read more: PSU President Announces $30 Million Investment in Economic Development
331 Innovation Boulevard, a four-story facility with 82,000 square feet of leasable office space, is scheduled for completion in late August 2015. As current resident companies are expanding and more companies are learning about the benefits of locating in Innovation Park, the demand for space continues to grow. The new building provides an opportunity for expanding companies in the park to move to a new building that meets their needs. It’s also a great opportunity for new companies to join the Innovation Park community. If you know of a company looking to lease space, direct them to Dan Leri, Director of Innovation Park, for more information on the park and space available. Dan Leri can be reached at 814-865-5925 or This email address is being protected from spambots. You need JavaScript enabled to view it..