Nanotechnology Institute Refunded with $3.5 Million from Pennsylvania

On March 14 Governor Edward Rendell announced that the NTI has been refunded for $3.5 million from the Ben Franklin Technology Development Authority through the commonwealth’s Pennsylvania Initiative for Nanotechnology (PIN).

The NTI was one of six programs funded and received the largest portion of a total $9.8 million announced at a press conference at Carnegie Mellon University “that could ensure the commonwealth’s place as a global leader in emerging technologies.”  The funding supports the PIN, which the Governor emphasizes, “leverages Pennsylvania’s regional academic, industrial and economic assets to improve research and technology at the atomic and molecular levels.”

Since its inception, the NTI has helped produce more than 225 IP assets, facilitated seven technology licenses, assisted in the development of 13 young companies and attracted more than $172 million in public and private investment to the region. 

The NTI was represented at the press conference by Dr. Anthony Green, Ben Franklin Director, NTI, Dr. Robert McGrath, Associate Vice Provost and Executive Director, Entrepreneurship and Technology Commercialization, Drexel University, and Paul S. Cribbins, Assistant Vice President Office of Government and Community Affairs, University of Pennsylvania.