The Need
XMP LLC, a student start-up formed at Penn State in 2015, was in need of business acumen and low-cost engineering assistance. They also sought funds for their student business for start-up expenses.
The PennTAP Connection
PennTAP was managing an economic development and entrepreneurship grant from the PA Department of Community and Economic Development (PA DCED) that focused on assisting student start-up companies. In addition, PennTAP had engineering resource relationships at Penn State that could help in the research and design of next-stage prototypes.
The Project
PennTAP began working with XMP LLC during our PA DCED–sponsored student company competition for Inc. University (Inc. U). We helped with pitch presentation skills that would allow XMP LLC to articulate its promising technology in a way that potential partners and investors could understand. PennTAP was also able to find donor funding that allowed XMP to sponsor a team of Penn State student engineers to design a needed metal powder separation prototype.
The Outcome
XMP LLC was awarded $14,000 via three separate student competitions in the 2015–16 fiscal year. In addition, XMP LLC was awarded a Penn State Learning Factory engineering student project to help develop their powder separation technology, and won a First Place Award. XMP LLC also completed the Ben Franklin TechCelerator program and has currently established their business in Penn State Innovation Park.
About the Company
XMP LLC
200 Innovation Blvd, Suite 242b
State College PA 16803
717-968-8765
County: Centre
Employees: 4
Industry: Manufacturing