Business student

Invent Penn State location helps kick-start determined alumni startup

“As we moved into the new building, Penn State Shenango and the Town of Hermitage were great to us and helped us through the process with various grants and opportunities for us to talk about and market our business.” , said Izzo. “When they heard that we would be graduating from the innovation hub and were looking for a place, everyone in the city that we came into contact with was trying to help us find a place. It was a very good transition. “

When the company was originally working from VenturePointe, one of the 21 innovation spaces in the Invent Penn State LaunchBox & Innovation Hub network, Masters and Izzo leveraged its free services and resources to help the business. to develop. This included taking advantage of networking opportunities, expert speaker sessions, and the Penn State Law Clinic, which helped them start an LLC.

“I recognized from the start the passion that Ali and Holly had when they started formulating their business ideas for Purpose Therapy Box,” said Georgia Macris, coordinator of VenturePointe. “I served as the liaison and facilitator for them to set up in our Penn State Shenango VenturePointe innovation center, and this is where they worked for several years to utilize the resources of Penn State Invent. . We are very proud of Penn State Shenango for their continued efforts and growth. “

In addition to VenturePointe resources, Purpose Therapy Box utilized the Northwest Pennsylvania Innovation Beehive Network, a formalized collaborative agreement between Penn State Behrend and Innovation Commons, neighboring universities, and the Erie County Public Library that offers an extensive range of free services to entrepreneurs and businesses. This network has helped Purpose Therapy Box with their logo, website, and other marketing needs.

Purpose Therapy Box has also benefited from additional resources from Penn State’s entrepreneurial ecosystem, including the Inc.U competition. The company won $ 15,000 in funding in 2019 as part of the Shark Tank style pitch competition. This was the first-ever winner of a Penn State Commonwealth campus competition.

At the 2019 Invent Penn State Venture & IP conference, Izzo introduced the company to industry advisors and venture capitalists from across the country. The company received $ 2,000 to help it move forward.

“As soon as you get into the VenturePointe system, it’s a huge network,” Masters said. “If we ever had a question, we could reach out and someone could help us. There are always people ready to help and listen to what we are trying to accomplish.

About Invent Penn State

Invent Penn State is a Commonwealth initiative aimed at stimulating the economic development, job creation and career success of students.

The Invent Penn State LaunchBox & Innovation Hub network is made up of 21 innovation spaces integrated into the communities of the Penn State campus offering a free co-working space, a makerspace, acceleration programs, pitch competitions, speaker series, access to experts and mentors, and legal and intellectual property advice through Penn State Law clinics. Five years after its opening, the Invent Penn State LaunchBox & Innovation Hub network has supported 3,325 community entrepreneurs, created 194.5 jobs and helped start 164 new businesses in Pennsylvania. Donations to support the network, as well as certain economic development initiatives across the Commonwealth, are a priority of the University’s current fundraising campaign, “A Greater Penn State for 21st Century Excellence”.

For more information on how to gift and get correspondence before the campaign ends on June 30, 2022, please contact Heather Winfield at [email protected] Information about the campaign is available at Greaterpennstate.psu.edu.

To find a location near you, visit invent.psu.edu/programs/pa-innovation-hubs.

To see more Penn State affiliated startups, visit StartupNavigator.psu.edu. Entrepreneurs looking for resources can visit ResourceNavigator.psu.edu.


Source link