The next time the likes of CNNMoney, the American Institute for Economic Research and Best College Reviews ranks State College as one of the best places to live and launch, they'd do well to get a quote from Paul Sciabica.

A Bellefonte native, Paul had a full career in Washington, D.C.; New York City; and Palo Alto before coming back to use his development and investment experience here at home. When asked about the perks that the Centre Region offers (listen up, CNNMoney), he points out the quality of life, high intellect and energy of the University and creative solutions to technical and business challenges that present interesting investment opportunities. Not only that, but he gets to enjoy fantastic rides with the area's cycling community. And, he doesn't have to take the One train every day.

Paul had been in touch with the Ben Franklin Technology Partners for a long time before moving back. He was impressed by the commitment and staying power they brought to the startup community. With his background and experience with early stage company investing and the commitment that PSU has made to the innovation ecosystem, it was an easy decision to relocate back to Happy Valley once his daughter left home for college.

Now, he is a managing partner with 1855 Capital, a seed and early-stage venture capital fund that invests in companies with an affinity to Penn State. The fund develops investment opportunities by actively engaging with current faculty, staff and students involved in world-class research efforts, along with more than 600,000 alumni. Since starting their efforts, they have met with over 30 companies with connections to the university, companies in areas like AgTech, medical devices, social media, enterprise software and nanotechnology.

He brings his past experience with him as executive director of New York Angels, a consortium of early stage investors; investment banker at Merrill Lynch; and strategic planner for The Washington Post, to help these companies truly succeed.

“I like to keep things very simple and follow the 5-P investment strategy,” Paul says.  “People, Product, Passion, Perseverance and Profit. If a company can deliver and articulate a narrative in those five core areas, then there may be an investment opportunity.”

People, passion and perseverance that leads to ground-breaking products and profit? It sounds like he's back in the right place here in Happy Valley.