At its core, the Venture Studio reimagines how discoveries become companies. Rather than relying solely on traditional licensing models, the Venture Studio brings venture-building expertise inside the university, assembling dedicated teams to evaluate, develop and prepare promising concepts for launch as independent startups.
As an R1 university under the Carnegie Classification, Lehigh continues to expand its enterprise. The Venture Studio helps bridge the gap between growing research output and the number of startups emerging from it, closely aligning with the university’s strategic priorities.
The Venture Studio operates through a deliberate process that guides innovations from early discovery to market readiness. First, promising university IP is identified and carefully de-risked to assess its commercial potential. Venture teams, composed of experienced startup builders, domain experts and undergraduate, master’s and doctoral students then work together as a founding team to test market opportunities, refine business models and validate whether an idea can succeed as a company. The result is a “startup package:” a spinout-ready venture that founders can license and grow independently.
This approach allows faculty researchers to see their work reach a broader audience without stepping away from their academic roles to become founders and operators themselves.
“Our goal is to make commercialization faculty-friendly,” said Lisa Getzler, vice provost for entrepreneurship. “We want researchers to remain focused on discovery and teaching while the Studio provides the infrastructure and expertise needed to bring innovation to market.”
For students, the Venture Studio creates a new kind of learning environment that is grounded in doing. Participants join venture teams and contribute to startup development, gaining hands-on experience in opportunity analysis and venture strategy.
Mithran Moses '28 has been a part of the proof-of-concept team since the Venture Studio was softly announced at Lehigh Silicon Valley in early 2025.
“Being able to work with the Venture Studio has shown me how institutions have a genuine impact on the world,” Moses said. “Translating research publications into startups and being at the forefront of innovation is very exciting.”
Moses works alongside Sara Eleissawy ’26, who was seeking opportunities to deepen her involvement in entrepreneurship at Lehigh and wanted to move beyond pitching ideas.
“As an architecture major, I come from a completely different world than entrepreneurship,” Eleissawy said. “The Venture Studio gave me a new way of thinking that’s been super eye-opening to me.”
The initiative also opens new avenues for alumni engagement. Entrepreneurs and investors will have opportunities to license venture-ready startup packages, while seasoned industry leaders will serve as Entrepreneurs-in-Residence, mentoring teams and helping guide early-stage ventures toward market success.
Guidance for the initiative also comes from the Entrepreneurship Kitchen Cabinet, a group of accomplished entrepreneurs, intrapreneurs and investors alike, who provide mentorship, industry insight and strategic feedback. The group helps pressure-test emerging concepts and connect ventures with industry networks and founders as they mature.
Member of the Cabinet and current Entrepreneur-in-Residence Frank Balcavage '01 is excited to see the vision of the Venture Studio come to fruition.
“As an alum, it’s very rewarding to have the opportunity to help turn Lehigh's faculty research into real-world impact,” Balcavage said. “The Venture Studio gives us a clear mechanism to get those discoveries off the shelf and into people's lives — and working with students in that process makes it even more special.”
The Venture Studio’s launch is made possible in part by a founding gift from Chris P’08 and Elaine McLeod P’08 and their son, Colin McLeod ’08 M’11, whose support demonstrates a collective belief in the power of ideas and in the people who bring them to life.
University leaders view the gift as an important starting point, which will continue to grow through additional partnerships and investment as the Venture Studio expands.
With the launch of this new initiative, Lehigh is taking a bold step to ensure its innovation and discovery extend beyond publication and contribute to building a future of our own making.
"Every spinout ready startup package that comes through the Venture Studio is a bet that the next great company doesn't have to start somewhere else," said Getzler. "We're not waiting to see what the future looks like. We're building it."
