Philadelphia University Invests in Technology

December 1, 2015

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b2ap3_thumbnail_Science-Lab.jpgThe development of new and useful technologies never ends. It is important for those of us who work with technology to share our knowledge with those who are eager to learn how the latest technology solutions can be leveraged to enhance the efficiency and productivity of almost any endeavor. Students who have a penchant for technology are influenced by other like-minded people around them. For this reason, it is essential for the schools and colleges to take the lead in the development of technology solutions that work for mankind.

At Drexel University, in West Philadelphia, administrators have announced that they have just partnered with Bethlehem-based economic development firm Ben Franklin Technology Partners to raise up to $10 million to back the college’s Office of Technology Commercialization. It is the second such investment BFTP has made to a greater Philadelphia university, committing $1 million to a similar endeavor at Temple University earlier this year.

Drexel’s Office of Technology Commercialization is committed to working with the inventors (or innovators) of potentially viable technological projects through a myriad of issues. These issues include identifying research programs that are likely to produce results of commercial interest and assisting inventors on matters that include:

  • Handling expenses
  • Viability assessment
  • Securing patents
  • Marketing
  • Licensing/optioning
  • and more.

    The University also offers a Proof of Concept program, with awards up to $100,000, to support non-entrepreneurial research projects that support the commercial potential of technologies developed at the college. As of today 26 awards have been written.

    By continuing to see the benefit of forging partnerships to invest time and capital in technology, universities like Drexel are leading the way in the development of new and useful solutions for tomorrow’s business. By driving these technologies forward, these institutions not only keep Philadelphia as a place proud to be at the forefront of technology, it ensures that today’s great breakthrough isn’t sitting on the shelf tomorrow.

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