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Purdue Announces Record-Breaking Year in Commercialization Activities
|By Business Wire
|July 15, 2014 09:11 AM EDT
University had record-breaking numbers in commercialization
activities highlighted by 24 startups based on Purdue intellectual
Research Foundation officials announced.
The growth is reflected in other increases through Purdue's Office
of Technology Commercialization including 146 U.S. and global issued
patents and 120 licensing deals with startups and established companies.
"As Indiana's land-grant university, one of Purdue's most important
missions is to move its innovations to the public where they can improve
lives, drive Indiana's economy and create jobs for Hoosiers," said
Purdue University President Mitch Daniels. "Purdue faculty, staff and
students are some of the most creative and hardworking individuals in
the world. Over the past 18 months we made several policy changes to
create a climate of entrepreneurship and deliberate innovation."
This was most recently acknowledged by the awarding to Purdue of the
2014 Incubator Network of the Year, the highest distinction offered by
Business Incubation Association.
Pu Wang, a doctoral student in biomedical engineering, was new to the
entrepreneurial arena when he helped found and became chief technology
officer for Vibronix
Inc., one of Purdue's 2014 startups.
"Two years ago I was on a career path to be a tenured faculty member and
didn't even think about pursuing something different," he said. "Then I
started hearing about the entrepreneurial opportunities at Purdue. At
that time, I was researching a technology that provides advanced imaging
that could predict the risk of a heart attack with more precision than
other devices currently on the market.
"I started thinking about licensing and commercializing this technology,
so I talked with the Purdue Foundry folks. It changed my future. My
advisor and I were their first clients, and the assistance we received
helped us create Vibronix."
For a complete list of all Purdue 2014 startups, visit http://otc-prf.org/startups
Recent initiatives to strengthen the Purdue entrepreneurial ecosystem
Foundry, a business incubator to help Purdue faculty, staff and
students create startups.
* Student-managed Anvil,
a business incubator to support student-generated startups.
Park Partners, a business facility for industry and Purdue research
* Change in intellectual
property policy so Purdue student inventors own their innovations.
license to expedite the technology transfer process.
option to give faculty and staff the ability to option intellectual
property that received support from an SBIR/STTR grant.
* $12 million Foundry
Investment Fund to support life sciences startups originating from
Certificate in Entrepreneurship and Innovation in Discovery Park
geared for undergraduate students who are interested in entrepreneurship.
* Product prototyping
and entrepreneurship landing page to drive innovators to the right
entrepreneurial resources online.
Innovator Startup Guide, an online and print publication to provide
intellectual property protection guidance, startup advice and other
Innovation for Faculty program that provides mentoring from
successful Purdue faculty entrepreneurs.
Valley Boilermaker Innovation Group that leverages Silicon Valley
Purdue alumni to provide mentoring for Purdue's new ventures.
"It's been a great year for commercialization and Purdue innovation, and
we expect 2015 to replicate or surpass last year's growth," said Dan
Hasler, president and chief entrepreneurial officer of the Purdue
Research Foundation. "These enterprises can only be successful through
the continued involvement of the Purdue innovators and leaders, our
alumni, the surrounding community, and state."
For information about investing in a Purdue startup or licensing a
Purdue innovation, visit PurdueFoundry.com
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