Pennsylvania officials, university leaders and entrepreneurs gathered at Lehigh University on Nov. 15 to discuss ways to turn innovation into economic opportunity for the commonwealth. The event, titled “Powering PA’s Future,” was hosted by Lehigh, the Pennsylvania Office of Transformation and Opportunity and the Pennsylvania Department of Community and Economic Development.
Participants focused on the growth of Pennsylvania’s “innovation economy,” where new ideas are brought to market to drive economic growth. They discussed how to translate research into tangible products and programs that benefit society.
The symposium at Iacocca Hall on Lehigh’s Mountaintop campus was attended by entrepreneurs, venture capitalists, state officials and university leaders from across the commonwealth.
Provost Nathan Urban told attendees the location of the symposium was fitting, given Iacocca Hall’s history as a hub for innovation. He said the university sees the campus as a place where innovation can flourish, particularly through partnerships with for-profit companies that are crucial to economic development.
“The work done at places like Lehigh University is key to creating opportunity all across our Commonwealth,” Gov. Josh Shapiro told the symposium in a recorded address. “That’s why, when my administration created Pennsylvania’s first long-term strategy on economic development in two decades, we made sure that plan included innovation front-and-center, and we put a specific emphasis on industries like robotic technology and life sciences, so we can support the work being done here and at universities across Pennsylvania.”
Shapiro’s chief transformation and opportunity officer, Ben Kirshner, emphasized the importance of innovation in driving economic growth and creating high-paying jobs. He cited a recent McKinsey Global Institute report that identified more than a dozen research-driven industries poised to reshape the global economy, including artificial intelligence software and services, cybersecurity, air mobility, robotics, nonmedical biotechnology, and drugs for obesity and related conditions.
Kirshner said the innovation economy contributes 50 percent to annual gross domestic product growth. He also highlighted the role of university technology transfer offices in connecting researchers with industry partners, and stressed the need to strengthen partnerships between the innovation pipeline and established companies, startups and funders.
Lehigh University was awarded a $6 million grant from the National Science Foundation last year. Part of the new federal Accelerating Research Translation (ART) program, the funding will be used to increase the translation of scientific discoveries by faculty, graduate students and postdoctoral researchers into prototypes, products and programs. Lehigh was the only Pennsylvania institution to receive the grant, which is one reason why Shapiro’s office chose the school to host the symposium.
This local news story was reported with generative AI assistance.