The Incubator program, managed by the Chamber of Business and Industry of Centre County, has welcomed five new business startups to its space in the Innovation Park Technology Center at Penn State. It is also adding two new affiliate members.

Don McCandless, Director of Business Development for the Ben Franklin Transformation Program, is pleased to introduce the new startups.

Lampire Biological Laboratories continues to lead neighboring Bedford County and the entire I-99 Corridor counties (Bedford, Blair, and Centre) into the exciting field of biotechnology.

The company is in the process of expanding its Everett facility’s manufacturing capacity to meet the needs of a $5.5 million contract that is scheduled to be completed over the next five years.

“We have a new contract from a Fortune 50, international pharmaceutical company,” said Gregory Krug, president and CEO at Lampire. “We will be doing a specialized tissue processing, preparing the tissue for a special extraction.”

Penn State’s inaugural Summer Founders Program proved to be a valuable investment in bright young entrepreneurs. On August 27, students from the six participating teams presented their work during Demo Days, bringing some incredible businesses to the forefront, including: 

Project Vive, led solely by Mary Elizabeth McCulloch: Mc¬Culloch designed an affordable device for those who can’t speak. The Project Vive glove requires small hand movements to form full sentences. This solution to overcome non verbal communication barriers brought on by cerebral palsy and other disabilities costs a fraction of what current devices cost. 

Gastrograph, led by Jason Cohen (founder and CEO): Cohen’s team created machine learning and artificial intelli¬gence based sensory tools for the food and beverage industry. This software has applications in quality control, flavor profile optimization and product development, production process optimization, demographic targeting, and cognitive market¬ing. It can also identify and predict defects and contamina¬tions in real time with over 99.99% accuracy. 

If you follow the stock market, you’ve surely taken note of the continually climbing value of ANAC stock (Anacor Pharmaceuticals, a biopharmaceutical company based in Palo Alto, California). The company, founded in 2002, was created around boron chemistry technology developed by Dr. Stephen Benkovic of Penn State University and co-founder Dr. Lucy Shapiro of Stanford University.

The stock began the year at just over $30 per share. Today the stock is selling for $132.58 per share, and they hit a high of the year at $156.925. The company’s value lies in its unique platform that has the potential to treat multiple diseases.

Penn State President Eric Barron has laid out a program that emphasizes the transfer of Penn State research and intellectual property to real world applications and startup businesses. Barron’s ambitious plan starts at the student level with a fresh look at curriculum across the University.

Robert Beaury, Interim Director of the Engineering Entrepreneurship Minor, said that great progress has already been made and there is much more to come, and soon.