Wharton’s William and Phyllis Mack Institute for Innovation Management helps scientists develop their business acumen and access partners to help bring their breakthroughs to market.
Many transformative technologies have their origins in university research, from lifesaving drugs and medical devices to advanced building materials. When these discoveries succeed in the marketplace, they not only improve lives but also become an important source of revenue for universities.
But the path from lab to market is rarely straightforward. Scientists face a range of challenges: traditional research grants typically don’t fund the costly “scale-up” phase of new inventions, while venture capitalists often hesitate to invest in untested, pre-commercial technologies. Many scientists also lack experience in business development or access to cross-sector partners (such as designers, lawyers, and entrepreneurs) needed to bring a breakthrough to market.
Supporting Penn inventors in overcoming these barriers has long been part of the mission of the William and Phyllis Mack Institute for Innovation Management. In addition to sponsoring academic research on commercialization, the Institute runs the Y-Prize, where students developed commercial applications for scientists’ inventions, and the Penn Wharton Commercialization Workshop, where scientists from Penn’s medical and engineering schools spend two days learning to translate their ideas into viable ventures.
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By the William and Phyllis Mack Institute for Innovation Management
Posted: December 12, 2025
