Penn State Research Foundation
Connecting Discovery to Impact
The Penn State Research Foundation catalyzes the commercial translation of research to benefit the Penn State community and improve our world.
1934
PSRF Established
$1.44B
Top 25
Mission
A university-wide ecosystem for research commercialization
The Penn State Research Foundation catalyzes the commercial translation of research to benefit the Penn State community and improve our world.
Researchers
Foster Discovery
Industry
Access Innovation
Government
Advance Transfer
New Ventures
Grow & Scale
About
90 years of advancing Penn State research
The Penn State Research Foundation traces its origins to 1934, when The Pennsylvania Research Corporation was formed to foster and advance scientific research — including creating, purchasing, holding, and licensing rights for inventions, designs, and other intellectual property.
Today, Penn State consistently ranks among the nation’s top 25 public research universities, with annual research expenditures approaching $1.44 billion. Consistent with the land-grant mission, PSRF enhances the impact of Penn State research to drive economic development across the Commonwealth and beyond.
1934
Today
Three offices advancing research commercialization
Office of Technology Transfer
Manages Penn State’s IP portfolio, connects researchers with industry and entrepreneurs, and leads the licensing of technologies for commercial development.
Office of Entrepreneurship & Commercialization
Supports Penn State researchers, students, and partners through startup formation, economic development, and commercialization programs including Invent Penn State.
Corporate Engagement Center
Connects businesses of all sizes with Penn State’s research expertise, facilities, and talent — facilitating sponsored research, partnerships, and collaborative innovation.
Recent Technology & Innovation News
Inaugural Penn State Innovation to Impact Awards recipients announced
Honoring people, partners and technologies that turn University research into real‑world impact, the awards recognize excellence in inventorship, entrepreneurship, commercialization and collaboration
GAP funding awarded to 12 Penn State research commercialization projects
The special fund helps promising advancements in health, manufacturing and more transition from lab to marketplace
Foundation Leadership
Officers
The Foundation’s officers lead Penn State’s technology transfer and commercialization enterprise under the Office of the Senior Vice President for Research.
President
Andrew F. Read
Senior Vice President for Research, Penn State
Vice President
Bin Yan
Associate VP for Research & Director, Office of Technology Transfer, Penn State
Chair
Bruce Shook
President and CEO, Vesper Medical Inc.
Vice Chair
Kathleen Shay
Secretary
James Delattre
Associate VP for Research Ventures, Penn State
Assistant Secretary
Tracy R. Claar
Administrative Support Manager, Office of Technology Transfer, Penn State
Assistant Secretary
Shannon S. Harvey
Director, Office of the Board of Trustees, and Secretary, Corporation for Penn State, Penn State
Treasurer
Lee A. Wagner
Associate Vice President for Budget and Finance and Controller, Penn State
Board of Directors
PSRF Board Members
The Foundation is governed by a Board of Directors with technology development and research commercialization expertise drawn largely from the private sector.
C. Daniel (Dan) Azzara
Director, E&I Program and Alan R. Warehime Professor of Food and Agribusiness at Penn State University (Retired 6/2025)
Patricia Loftus
Investor and Committee Member, New World Angels
Board Director, SCORE Mentors
