The Senate Republican Policy Committee convened a public hearing exploring Pennsylvania’s role as an innovation hub and the importance of startups and established companies. The hearing aimed to explore growth, achievements, and partnerships with academic and research institutions. John Swartley, PhD, MBA, Penn’s Chief Innovation Officer, discussed the University’s contributions to innovation, economic development and job creation, highlighting the more than 8,000 patents filed, nearly 7,000 commercial agreements executed and the creation of more than 250 new companies with multiple billions in capital investment received. He highlighted the importance of academic research in developing human capital and fostering industrial collaborations, citing examples like Spark Therapeutics’ Luxturna™ and mRNA technology used in COVID-19 vaccines. Swartley also addressed challenges in commercializing research and proposed solutions including supporting STEM (science, technology, engineering and mathematics) education and increasing financial commitments for early-stage technology development.
Watch the entire hearing and learn more more information about all the participants here.