Centers & Institutes
Farrell Center for Corporate Innovation & Entrepreneurship
Innovation doesn't happen only in startups. The Farrell Center connects innovators, entrepreneurs, business leaders, and students with the programs, partnerships, and expertise to move ideas from concept to impact.
Where Ideas Become Business Opportunities
Entrepreneurship is about more than launching a startup. Organizations of every size depend on people who can recognize opportunities, solve problems, and turn ideas into action.
The Farrell Center for Corporate Innovation and Entrepreneurship at Penn State Smeal College of Business advances education in venture creation, corporate innovation, and entrepreneurial leadership, while connecting students, faculty, and industry partners at every stage of the entrepreneurial journey.
You'll work alongside faculty, entrepreneurs, executives, inventors, and industry partners through academic programs, consulting projects, and experiential learning opportunities designed to build the skills and network to move ideas from concept to impact.
Discover the Farrell Center through:
Undergraduate and graduate entrepreneurship education
Venture support and consulting services
Networking opportunities
Entrepreneurship and innovation events
Internship programs
Startup funding and venture development
Entrepreneurial programming
How the Farrell Center Engages
Drive Innovation
Explore venture creation, innovation strategy, corporate entrepreneurship, and knowledge management, and identify opportunities to collaborate.
Propel Business: New Venture & Innovation Program
The Propel Business: New Venture & Innovation Program connects entrepreneurs with mentoring, consulting, financial modeling, and legal resources, supported by Penn State Smeal faculty and a network of experienced founders and investors.
Entrepreneurship Events & Competitions
Attend venture showcases, and connect with founders, investors, and Penn State Smeal faculty at Farrell Center events.
Signature Initiatives
Experienceship Program
Work directly with Pennsylvania startups and emerging businesses to solve entrepreneurial challenges in operations, marketing, finance, and strategy, while gaining hands-on experience that goes well beyond a case study.
Garber Venture Capital Fund
Through the $5M Garber Venture Capital Fund, graduate students taking ENTR 597 will conduct due diligence, evaluate investment opportunities, and make real investment recommendations to gain hands-on venture capital experience that most students only read about.
Propel Penn State Seed Fund
Through the Propel Penn State Seed Fund, undergraduate students accepted into the Venture Capital Investment Practicum (VCIP), step into the drivers seat of venture investing to conduct due diligence, evaluate investment opportunities, and make real investment decisions.
Entrepreneurship Programs at Penn State Smeal
Put Entrepreneurship Into Practice
For Students
Propel Penn State Seed Fund
Pitch competitions and startup events
For Companies & Entrepreneurs
Corporate innovation partnerships
Applied research collaborations
Student consulting projects
Venture mentoring and engagement
Entrepreneurial outreach programs
Startup funding and venture development
Bring Your Ideas to Penn State Smeal
Whether you're building a startup, leading innovation inside an established company, or looking to collaborate with Penn State Smeal faculty and students, the Farrell Center creates opportunities to move ideas forward.
Contact the Farrell Center for Corporate Innovation and Entrepreneurship
Farrell Center for Corporate Innovation and Entrepreneurship
Penn State Smeal College of BusinessCenter Leadership & History
The Farrell Center was established through an endowment from entrepreneur and investment banker Michael J. Farrell, whose vision was to give Penn State students opportunities to learn entrepreneurship through real-world experience. Since its founding, the center has grown into a hub for entrepreneurship and innovation at the Penn State Smeal College of Business, bringing together students, faculty, entrepreneurs, investors, and industry partners through education, research, and outreach.
Today, Dr. Shawn Clark, Michael J. Farrell Endowed Professor of Entrepreneurship, serves as director of the center.
Michael J. Farrell believed entrepreneurship was more than starting a business—it was a way of thinking that could drive innovation in organizations of every size. He envisioned a center where students could gain practical experience, learn from entrepreneurs and industry leaders, and develop the confidence to put ideas into action.
Today, the center carries that vision forward through experiential learning, mentorship, industry partnerships, and collaborative programs.
“I wanted them to see the practical side, not just what you could read in a book, about starting their own business,” said Farrell.