Early details of Innovate in PA 2.0, a $125 million state led innovation fund, have been revealed.<\/p>\n
The funding was secured as part of the state\u2019s 2026-27 fiscal year budget and aims to provide capital for startups and enhance the state\u2019s broader innovation ecosystem<\/a>. The program, which will be funded through the sale of state Insurance Premium Tax Credits, is a follow on to the original Innovate in PA program, which was launched in 2013. Further details were unveiled today by Department of Community and Economic Development Secretary Rick Siger, speaking at the National Robotics Engineering Center in Lawrenceville.<\/p>\n \u201cThere\u2019s a set of really specific targeted initiatives that we want to move forward,\u201d Siger said. \u201cFundamentally, (Innovate in PA 2.0) is about supporting our startups, helping to close the gap between invention and commercialization and hoping to attract outside investment from Pennsylvania to help our companies grow here and stay here.\u201d<\/p>\n Click here to read more from our partners at the Pittsburgh Business Times.<\/a><\/p>\n Download the FREE WPXI News app<\/a> for breaking news alerts.<\/p>\n Follow Channel 11 News on Facebook<\/a> and Twitter<\/a>. | Watch WPXI NOW<\/a><\/p>\n TOP STORIES FROM CHANNEL 11 NEWS <\/p>\n Police: Man set fire to Washington County home shortly after police respond to domestic dispute<\/a>Girl, 5, found wandering in Beechview & mother discovered sleeping, police say<\/a>\u2018Heroes\u2019 and \u2018Nashville\u2019 star Hayden Panettiere dies at 36<\/a>WPXI launching \u2018Band Together\u2019 initiative for back to school<\/a>Wet weather continues throughout the day Monday<\/a><\/p>\n \u00a92026 Cox Media Group<\/p>\n