A transformative $1.5 million gift from Penn State alumnus Dr. Richard A. Gottscho has set in motion a new era for innovation at the university. The newly-created Nittany Angels network and funding pool will deliver early-stage investment and infrastructure to startups rooted in university research, bridging market-ready ventures with mission-aligned alumni and community investors. The initiative is designed to create clear pathways from lab breakthroughs to global businesses.
Key mechanisms include leveraging philanthropic capital to kickstart university angel networks; utilizing common early-stage investment structures; and explicitly connecting program resources, staff, and alumni to manage and expand the commercialization process. This multi-stage support underpins Penn State’s commitment to economic growth.
Three best practice takeaways for gap fund and accelerator program (GAP) designers:
•Philanthropic capital can strategically launch angel networks by providing both initial capital and long-term infrastructure to support university innovation.
•Engagement of mission-aligned stakeholders (alumni, faculty, community, students, parents) creates sustainable investor pipelines and networks invested in the institution’s research and startups.
•Operational and programmatic funding are as critical as investment capital to ensure effective deal flow, management, and company support through multiple growth stages.
Full story: Gift launches Angel Network to fuel Penn State commercialization | Penn State University
