Partnership for Economic Innovation

What Partnership for Economic Innovation does

Partnership for Economic Innovation (PEI) is a Phoenix-based non-profit economic development organization founded in 2019 that operates as a public-private partnership to accelerate Arizona's innovation economy. PEI coordinates four systems-level initiatives: the WearTech Applied Research Center (launched 2019, focused on wearable and biomedical technology commercialization), the Arizona Blockchain Applied Research Center (AZ BARC, member-driven applied research on blockchain for medical devices, IoT security, and digital trust), The Connective (a Greater Phoenix smart region consortium convening 22+ municipalities across 14,000+ square miles), and Pipeline AZ (a workforce development and career exploration platform embedded statewide via the Arizona Department of Education's My Future AZ program).

PEI's core technology is applied research infrastructure that connects Arizona-based companies with state research universities (ASU, University of Arizona, Mayo Clinic) to commercialize early-stage technology. WearTech and AZ BARC provide matching grant funding, university research partnerships, and regulatory navigation (including FDA approval pathways for health tech). Pipeline AZ uses skills mapping technology to connect job seekers with employers across energy, construction, semiconductor, advanced manufacturing, and healthcare sectors. The Connective manages ARPA-funded programs for the City of Phoenix including family assistance stipends and workforce wraparound services.

PEI's business model combines state government appropriations through the Arizona Commerce Authority's Applied Research Fund (dollar-for-dollar matching up to $250,000 per project) with private sector matching investment from industry partners and AZ BARC member fees. The organization additionally generates revenue through administrative services contracts, notably serving as program manager for City of Phoenix ARPA-funded initiatives. Total disclosed state funding deployed includes $800K initial investment, $5M additional legislative authorization, $4.2M in 2025 wearable tech deployments, and $1.2M across six health technology projects in 2026. A 2021 Rounds Consulting Group impact study documented 4-5x return per dollar of public investment over a decade. PEI is governed by a board of directors chaired by John Graham (Sunbelt Holdings CEO) and led by Managing Director Dean Duncan, with key board members including former Honeywell Aerospace CEO Mike Madsen, ASU VP Grace O'Sullivan, and Greater Phoenix Economic Council CEO Chris Camacho.

Name

Partnership for Economic Innovation

Legal name

Partnership for Economic Innovation

Website

https://azpei.org

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Partnership for Economic Innovation is a Phoenix-based non-profit that operates four applied research and ecosystem programs — WearTech, AZ BARC, The Connective, and Pipeline AZ — to accelerate Arizona's innovation economy through public-private matching grants, university partnerships, and workforce development.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Professional, Scientific, and Technical Services (541)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Research, Monitoring, Evaluation & Learning (MEL) Partnerships (EDADALAK)

akta.pro secondary industries

Workforce, Employability & Youth Skills Partnerships (EDADALAI), Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH), Education Partnerships for Equity, Inclusion & Gender (EDADALAF)

Keywords

• Applied research
• Economic development
• Innovation consortium
• Workforce development
• Smart region programs

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. State Government Funding (Arizona Commerce Authority): PEI receives state appropriations through the Arizona Commerce Authority Applied Research Fund. The state provides matching funds that are dollar-for-dollar matched by private sector investment. Initial $800,000 public investment leveraged generated a projected $4-5 return per dollar over a decade per a 2021 Rounds Consulting Group impact study. Additional $5M was made available in the Applied Research Fund for wearable technology and blockchain projects.
2. Industry Member Fees and Private Investment: AZ BARC invites companies with Arizona presence to become Members and gain exclusive access to research findings. Applied research projects require private investment from company partners matched dollar-for-dollar by state funds. Private sector funding must come from sources other than the State of Arizona (e.g., federal SBIR awards, company R&D expenditures, partner funding).
3. Administrative Services Contracts: PEI provides administrative and customer support services for government programs such as City of Phoenix ARPA-funded Family Assistance Resource and Workforce Wraparound Tuition/Apprentice programs. The Connective acts as program manager providing reloadable debit cards, administrative support, and customer services.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Partnership for Economic Innovation is a non-profit economic development organization that runs four flagship programs to accelerate Arizona's innovation economy: the WearTech Applied Research Center (wearable-technology applied research), the Arizona Blockchain Applied Research Center (AZ BARC), The Connective (a smart-region consortium of municipalities, universities, and industry partners), and Pipeline AZ (a workforce skills-development and job-matching platform). PEI brokers applied-research projects between startups, universities, and industry, while coordinating regional smart-city initiatives and operating a statewide workforce pipeline.

Product overview

Partnership for Economic Innovation operates as a portfolio of systems-level strategies and programs rather than a single unified product. The organization comprises four distinct initiatives: the WearTech Applied Research Center for health and biomedical technology, the Arizona Blockchain Applied Research Center for blockchain solutions, The Connective for smart region development, and Pipeline AZ for workforce development. These initiatives work together to accelerate Arizona's innovation ecosystem through applied research funding, industry partnerships, and career pathways.

Differentiator

Problem solved

Functional benefit

Brands

• WearTech Applied Research Center: Applied Research Center focused on developing future-of-health and biomedical technology, launched in 2019 to grow Arizona's health tech ecosystem.
• Arizona Blockchain Applied Research Center (AZ BARC)
• Pipeline AZ
• The Connective

Products and services

• WearTech Applied Research Center Applied-research program providing wearable-technology startups and university research teams access to research infrastructure, industry mentorship, and commercialization support to bridge the gap between prototype and commercial deployment in Arizona.
• Arizona Blockchain Applied Research Center (AZ BARC) Applied-research program focused on blockchain technology, supporting Arizona-based startups, researchers, and industry partners working on distributed-ledger applications and commercial use cases.
• The Connective (Smart Region Consortium) Regional consortium of 22+ Arizona municipalities, universities, and industry partners coordinating smart-region, broadband, and data-integration initiatives across the Greater Phoenix region.
• Pipeline AZ Workforce development and skills-mapping platform that connects Arizona job seekers, training providers, and employers through a digital skills-and-jobs-matching system.

Quantifiable outcome

• Every $1 of public investment generates $4-$5 in state and local tax revenues over a decade (2021 Rounds Consulting Group study)
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

21 partnerships are on record, tiered core and minor.

• Arizona State University (ASU)coreStrategic or Co-development Partner · 30 June 2026ASU is PEI's primary university research partner. ASU Knowledge Enterprise provides corporate engagement and strategic partnerships through Grace O'Sullivan (PEI Board Member). ASU co-hosts the Celebrating Innovation Summit and provides faculty, students, and research infrastructure (Science and Technology Centers, Biomedical Engineering) for PEI's Applied Research Centers. ASU's New Economy Initiative targets 40,000 high-wage jobs by 2041 through STC collaborations with industry.
• Mayo Clinic College of Medicine and SciencecoreStrategic or Co-development Partner · 30 June 2026Mayo Clinic College of Medicine and Science partners with PEI's Applied Research Centers program, providing clinical research expertise and validation capabilities for health technology projects being developed through the WearTech Applied Research Center.
• Remedy Medical ManufacturingminorStrategic or Co-development Partner · 1 January 2025Phoenix-based Remedy Medical Manufacturing collaborates with PEI-funded Senphonix to finalize design and prepare for mass production of the SleeveSense wearable vitals monitor through the WearTech Applied Research Center.
• IntelcoreTechnology or Integration · 11 May 2022Intel joined AZ BARC as an inaugural member, gaining exclusive access to the blockchain applied research center's findings. Intel participates in applied research projects addressing real-world blockchain challenges relevant to semiconductor and technology supply chain applications.
• Kudelski SecuritycoreTechnology or Integration · 11 May 2022Kudelski Security is an AZ BARC member and provides blockchain security expertise. Head of Blockchain Scott Carlson participated in PEI's State of Innovation Summit panel on blockchain applications. The partnership focuses on cyber threats, data protection, and blockchain solutions.
• Early Warning ServicescoreTechnology or Integration · 11 May 2022Early Warning Services, a financial services technology company, joined AZ BARC as an inaugural member to access blockchain research findings and contribute to applied research projects in digital trust and security.
• BD (Becton, Dickinson and Company)coreTechnology or Integration · 11 May 2022BD partnered with AZ BARC on a medical device inventory management project focused on secure data sharing, provenance, and tracking for better supply chain management. BD is also listed as an AZ BARC inaugural member.
• City of PhoenixcoreStrategic or Co-development Partner · 15 December 2021PEI partners with City of Phoenix to distribute millions in ARPA funding. The Connective acts as program manager for Family Assistance Resource ($1,000/month for 1,000 families for 12 months) and Workforce Wraparound Tuition/Apprentice programs. Phoenix City Council unanimously approved the contract in December 2021.
• Greater Phoenix Economic Council (GPEC)coreStrategic or Co-development PartnerGPEC is a founding partner of The Connective smart region consortium and a PEI board-affiliated organization. President and CEO Chris Camacho serves as PEI board member. GPEC collaborates on regional economic development, smart city initiatives, and innovation-driven growth strategies.
• Maricopa Association of GovernmentscoreStrategic or Co-development PartnerMAG is a founding partner of The Connective smart region consortium, providing regional governance coordination across Greater Phoenix's 22+ municipalities for smart city and technology deployment initiatives.
• Institute for Digital ProgresscoreStrategic or Co-development PartnerThe Institute for Digital Progress is a founding partner of The Connective, contributing technical expertise for smart region infrastructure and digital equity initiatives across Greater Phoenix.
• Mastercard / City Possible NetworkcoreStrategic or Co-development PartnerPEI's The Connective leverages its City Possible network membership (pioneered by Mastercard) to access digital inclusion frameworks and best practices for ARPA-funded family assistance programs. City Possible has grown from 16 founding members in 2018 to 300+ city members.
• Enlighten MobilityminorStrategic or Co-development PartnerEnlighten Mobility formed a strategic partnership with Gravitrex to strengthen engineering, clinical, and commercialization capabilities for gait training solutions targeting post-acute care patients.
• 22+ Greater Phoenix MunicipalitiescoreStrategic or Co-development PartnerThe Connective convenes 22+ municipalities across Greater Phoenix (including Wickenburg, Phoenix, Tempe, Scottsdale, Mesa, Avondale, and others) to collaboratively develop and deploy smart region solutions at scale, covering 14,000+ square miles.
• National Smart Coalitions PartnershipminorStrategic or Co-development PartnerThe Connective participates in the National Smart Coalitions Partnership, which unites 100+ governments across seven regional coalitions to advance smart city and smart region best practices and implementation frameworks.
• University of ArizonacoreStrategic or Co-development PartnerUniversity of Arizona is a university research partner in PEI's Applied Research Centers program, providing faculty expertise and research infrastructure for health technology projects. The University of Arizona's Biomedical Engineering department collaborates with PEI-funded startups like Senphonix.
• Arizona Department of EducationcoreStrategic or Co-development PartnerArizona Department of Education launched My Future AZ utilizing Pipeline AZ's technology infrastructure to provide statewide career exploration and planning for all Arizona public school students, replacing the previous ECAP standardized tool. Funded through the Perkins V Act.
• Maricopa County Community College DistrictcoreStrategic or Co-development PartnerPipeline AZ supports all public 2- and 4-year postsecondary schools in Arizona, with direct integration supporting the Maricopa County Community College District, enabling career pathway connections from community college to employment.
• Estrella Mountain Community CollegeminorStrategic or Co-development PartnerEstrella Mountain Community College co-hosted the Skilled Trades Expo and In-Person Job Fair (April 30, 2022) at its West-MEC Southwest Campus, part of Pipeline AZ's workforce event series connecting employers with job seekers across skilled trades.
• Arizona State University (Media and Immersive eXperience Center)coreStrategic or Co-development PartnerASU's Media and Immersive eXperience (MIX) Center in Mesa serves as the venue for PEI's Celebrating Innovation Summit 2025. ASU co-hosts the event as part of its efforts to strengthen Arizona's position as an innovation hub.
• Arizona State University — Biomedical Engineering DepartmentcoreStrategic or Co-development PartnerASU's Biomedical Engineering department collaborates with PEI-funded startup Senphonix on development of the SleeveSense wearable vitals monitor, contributing research expertise for the automated patient biosignal monitoring device.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Greater Phoenix Economic Council (GPEC): Regional economic development organization serving the same Greater Phoenix geography with overlapping focus on innovation, talent, and industry attraction. GPEC's President and CEO Chris Camacho sits on PEI's board, and GPEC is a founding partner of The Connective, making it the closest geographic and functional peer.
• Launch Fishers: Indiana-based innovation hub and startup accelerator combining physical workspace, applied research coordination, and ecosystem convening functions. Comparable to PEI in operating as a nonprofit intermediary that bridges industry, academia, and municipal government for innovation outcomes.
• CIC (Cambridge Innovation Center): Operates innovation campuses across multiple U.S. cities that combine startup workspace, venture building, and corporate-innovation partnerships. Comparable to PEI in functioning as a non-equity ecosystem coordinator for technology commercialization and applied research.
• 1871 Chicago: Chicago-based nonprofit technology hub and startup incubator founded with state and university support. Comparable to PEI in its nonprofit model for convening corporates, universities, and entrepreneurs around applied technology development.
• MassChallenge: Global nonprofit startup accelerator that connects early-stage founders with corporate partners and applied industry challenges. Comparable to PEI in delivering non-equity accelerator programming and industry-matched applied research collaborations.
• BioEnterprise / JumpStart Health: Cleveland-based biomedical commercialization organization that connected university research, industry, and capital for health-tech startups. Closest functional peer to PEI's WearTech Applied Research Center given similar biomedical commercialization focus and university-anchored model.
• Opportunity Hub: Atlanta-based innovation ecosystem organization combining startup acceleration, workforce development, and corporate-innovation programming. Comparable to PEI's multi-initiative portfolio approach (applied research + workforce + smart region). Wes Gullett, PEI's Director of Applied Research Operations, is also OH Strategic Communications' CEO.

Broad incumbents

• Arizona Commerce Authority: Arizona's primary state economic development agency that directly administers the Applied Research Fund that finances PEI. Operates with broader scope (workforce, infrastructure, attraction) than PEI but is the upstream funding partner and a key comparable for state-level innovation investment models.
• Techstars: Global startup accelerator operating with corporate partnerships and applied-research-style challenge programming. Comparable to PEI in industry-startup matchmaking but operates at much larger scale and with equity-based incentives rather than nonprofit matching grants.

Regional players

• New Economy Initiative (ASU): ASU's New Economy Initiative targeting 40,000 high-wage jobs by 2041 through industry-university partnerships. Operates within Arizona's same ecosystem as PEI, with overlapping research commercialization scope, but is housed within ASU rather than operating as an independent nonprofit.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/peiphx
• YouTubeyoutube.com/channel/UC36de3ihI5t6RScvJFDwctA
• Facebookfacebook.com/PEIphx
• LinkedInlinkedin.com/company/partnership-for-economic-innovation

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Partnership for Economic Innovation