Wolf Administration Highlights Ongoing Investments in Pennsylvania’s Advanced Technology Start-Up Companies at Locomation Event in Pittsburgh – PA Department of Community & Economic Development

Pittsburgh, PA – Right now, Division of Neighborhood and Financial Improvement (DCED) Performing Secretary Neil Weaver and Deputy Secretary of Know-how and Innovation Steve D’Ettorre highlighted the Wolf Administration’s investments in Pennsylvania’s superior expertise start-up corporations throughout an occasion at Locomation, an autonomous trucking firm in Pittsburgh.

“It’s essential to spend money on start-up corporations like Locomation, they signify the long run in Pennsylvania,” mentioned Performing Secretary Weaver. “And it was nice to see, first-hand, the unbelievable issues they’re doing with autonomous vans. We now have a budding Silicon Valley in western Pennsylvania, and Locomation is without doubt one of the the explanation why.”

Locomation has acquired roughly $60 million in funding, a portion of which was supported by the Ben Franklin Know-how Improvement Authority (BFTDA) by means of Draper Triangle Enterprise entities. As one of many largest state expertise growth packages within the nation, the BFTDA was established to advertise an entrepreneurial enterprise surroundings, advance expertise innovation, and create a technology-ready workforce.

“Locomation is proud to be a part of Pittsburgh’s vibrant expertise group and we’re grateful for the BFTDA’s early assist,” mentioned Locomation co-founder and CEO Çetin Meriçli. “Their assist at an important time helped us rent key personnel, procure important expertise as we construct in the direction of changing into the primary firm to deploy commercially viable autonomous vans throughout the nation. As we strategy our fourth anniversary, we’ve quadrupled our worker headcount within the final 14 months and are rising quick. DCED helped make it doable.”

The mission of the BFTDA is to encourage and coordinate packages and investments, which advance the competitiveness of Pennsylvania corporations and universities within the international economic system. So far, BFTDA has deployed $52M to Pennsylvania-based enterprise corporations through the Wolf administration. To additional this funding and his dedication to supporting innovation within the commonwealth, Governor Tom Wolf has proposed an $18 million enhance in funding for the BFTDA in his 2022-23 funds.

For extra details about the Wolf Administration’s dedication to expertise, go to the DCED web site, and remember to keep up-to-date with all of our company information on Fb, Twitter, and LinkedIn.

MEDIA CONTACT:
Allison Brubaker, DCED, dcedpress@pa.gov

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