The Penn State Great Valley community recently celebrated its REV-UP Center for Entrepreneurship at a ribbon-cutting ceremony with Neil Sharkey, vice president for research at Penn State, Marybeth DiVincenzo, senior vice president and chief marketing officer of the Chester County Economic Development Council, and local dignitaries.

REV-UP, which stands for Regional Entrepreneurial Ventures through University Programs, aims to engage and encourage Penn State students, faculty, and community members to generate innovative, commercially-viable solutions to address existing and emerging business and social needs, and to support their entrepreneurial efforts as they serve the Philadelphia region.

The program will work closely with the Chester County Economic Development Council, its key corporate affiliate.

The center was created last May thanks to a $50,000 seed grant from Invent Penn State, a commonwealth-wide initiative that blends, for the benefit of Pennsylvania and beyond:

• entrepreneurship-focused academic programs
• business startup training and incubation
• funding
• key regional partnerships

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“Invent Penn State is President (Eric) Barron’s initiative focused on leveraging Penn State’s research, knowledge, and entrepreneurial spirit to bring to market needed ideas, products, and services,” said James Nemes, chancellor and chief academic officer of Penn State Great Valley.

“REV-UP is now one of 12 Innovation Hubs established across the commonwealth, and we’re honored to have been selected as one of them.”

Since its inception, REV-UP has:

• launched a graduate certificate in new ventures and entrepreneurship
• awarded the Warren V. Musser Fellowship in Entrepreneurial Studies to support a full-time graduate student interested in launching a business
• hired an entrepreneur-in-residence to provide guidance to emerging entrepreneurs
• hosted an inaugural student-pitch day for scholars to share their ideas with faculty and area professionals

“The establishment of the REV-UP Center for Entrepreneurship allows us not only to provide a world-class graduate education, but also to become a crucial partner to further the economic development of our region in ways we never have been able to do before,” said Nemes.

This fall, REV-UP will hold its first-ever Lion Cage, where area entrepreneurs will pitch their business ideas for cash prizes.

Click here for more information on the REV-UP Center for Entrepreneurship.

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