A $200 million fund launched by the University of Pennsylvania’s School of Engineering and Applied Science will support faculty research and seed startups, aiming to offset the shortfall caused by federal funding cuts to universities, writes Ryan Mulligan for the Philadelphia Business Journal.
The Futures Fund is set to back research and initiatives in fields the current federal government has largely overlooked, including climate change, social effects of AI, and gene therapies, along with other cutting-edge biotherapeutics.
According to Dean Vijay Kumar of Penn Engineering, the concept has been discussed with donors for months and is nearing more than $40 million in commitments to the fund.
“These are things that we think Penn is exceptionally positioned, actually, I might argue the Philadelphia area is exceptionally positioned [for],” said Kumar. “To not invest in this and allow this to reach its fullest potential would be irresponsible.”
He added that Penn Engineering is particularly affected by shifting federal policies because of its reliance on research funding, which in turn influences its ability to draw top talent.
“Unless you attract the best talent, you will not have the most impact,” he said.
Read more about Penn Engineering’s efforts to combatting federal funding cuts in the Philadelphia Business Journal.
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Editor’s Note: This post was originally published on PHILADELPHIA.Today in April 2026.
