Early details of Innovate in PA 2.0, a $125 million state led innovation fund, have been revealed.
The funding was secured as part of the state’s 2026-27 fiscal year budget and aims to provide capital for startups and enhance the state’s broader innovation ecosystem. 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.
“There’s a set of really specific targeted initiatives that we want to move forward,” Siger said. “Fundamentally, (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.”
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