Innovation Daily - RoseAnn Rosenthal testified at the Committee’s hearing on the Department of Commerce programs to support job creation and innovation at small- and medium-sized manufacturers, offering it her expertise on fostering the growth of early-stage companies and helping them create effective pathways to commercialization.
Rosenthal was asked to testify because of her track record in Pennsylvania’s technology community, expertise in the industry, and role within Ben Franklin. Since 2001 alone, Ben Franklin has committed more than $50 million to over 500 early stage companies, which have created or retained over 7000 high-tech jobs. During that time Ben Franklin’s portfolio companies have raised more than a billion dollars in follow-on investment.
Rosenthal cautioned the Committee that financially constrained state technology development programs, such as Ben Franklin, are unable to make capital available for many viable innovative enterprises and initiatives. She invited creative new approaches and a retooling of existing federal programs for innovation as a solution, also urging the Committee to fund the Office so that it can launch broader, comprehensive regional funding models—all with a goal of helping regions cultivate innovation and bring valuable start-ups to market.
Others asked to testify at the hearing were the Honorable Dwight F. Hightower, Deputy Secretary of Commerce; Jennifer Owens, Vice President of Ann Arbor Spark; and Michael Coast, President of Michigan Manufacturing Technology Center. To read Rosenthal’s full written testimony, visit the U.S. House Committee on Science and Technology’s Web site.
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