Penn’s Center for Technology Transfer Presents Penn Innovations to the Private Equity Community

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Media Contact:Sandra Scheibe | | 215-573-4510October 4, 2004

PHILADELPHIA -- The University of Pennsylvania Center for Technology Transfer will host its Annual Open House on Oct. 7 at its office on the Penn campus.  

CTT plays a key role in moving the results driven by Penn's enormous research capacity to the marketplace. The open house will offer venture capitalists, regional managers and entrepreneurs, law firms, inventors and the technology community access not only to Penn innovations but to the university scientists and commercialization experts as well.

More than 20 new platform technologies developed at Penn will be featured as part of the event.  Several of these are already on their way to commercialization, while others are actively seeking management teams and investment.  Some of Penn's most accomplished faculty members and inventors will be on hand to elaborate on the potential success and market impact of their technologies.

"Penn is a world class research institution which attracts more than $700 million annually to fund its vast research enterprise," CTT Managing Director Louis P. Berneman said.  "We are pleased to have the opportunity to showcase some of the resulting technologies, each of which we believe could be the basis of a successful start-up company."

Penn track record for spinning off start-ups is impressive.  The University is one of the top three for start-up company generation, according to the latest published Association of University Technology Managers survey.   In fiscal year 2004, CTT launched 14 new companies, most of which have established or will establish offices in the Philadelphia region.

"Our success in launching start-up companies meshes well with the University goal of taking a leadership role in developing the regional economy," Berneman said.  "These start-ups not only move important technology toward the marketplace but, in the process, create jobs and generate investment.  We hope to continue our success in start-up business development to enhance the image of Philadelphia as an 'Innovation Zone.'"

During the open house, CTT also will present the first copies of its FY2004 Annual Report, which focuses on CTT's role as a major driver of regional economic growth.

The Center for Technology Transfer is in Suite 200 of the Left Bank Building, 3160 Chestnut St. (map)