Entrepreneurial Group Innoblue to Open State College Facility

The local entrepreneurial group Innoblue, led by Penn State students, has finalized plans to open a 2,500-square-foot facility in fall 2011, Innoblue announced Sunday.

Its leased facility will be known as the Innoblue Garage and occupy as-yet-unfinished space on the third floor of the State College Municipal Building, 243 S. Allen St., Innoblue co-founder David Adewumi wrote in a public letter.

Penn State students and others will be able to rent space in the facility as they explore entrepreneurial ideas and plans, Adewumi wrote. Pricing will be set at $99 per semester for students and $99 a month for non-students.

‘I’ve seen dozens of friends, students and teachers have great ideas that languished for lack of a community that could help grow their idea,’ Adewumi wrote. ‘That’ll all change with the launch of Innoblue Garage … .’

Innoblue, a non-for-profit organization, hosted an inaugural Penn State Demo Day in December. Entrepreneurs there showcased 12 ventures before community leaders and potential investors. To date, according to Adewumi, three of those ventures have received investment offers worth a combined $300,000.

‘Nothing could prove Innoblue more possible than the very concept of a small group of students starting a venture that could help bring innovation to our community — we ourselves essentially launched a new venture,’ he wrote.

His public letter about the Innoblue Garage is posted in full at OnwardState.com. Links to earlier StateCollege.com coverage of Innoblue are posted below.

Earlier coverage

• Co-Founder: Innoblue Expects to Secure a State College Facility by Spring (Dec. 9, 2010)

• Innoblue Attempts Entrepreneurial Culture Shift at Penn State (Dec. 20, 2010)