Business Development OverviewNow more than ever, university research is a core component of the world’s knowledge economy and central to the United States’ continued technological leadership. With more than $330 million in annual research and some 400 labs across its system, Purdue University’s focus on discovery, development and delivery produces hundreds of disclosures annually. These innovations have resulted in licensable technology, numerous startup companies and job creation. Critical to this success is the Office of Business Development, which provides comprehensive assistance to Purdue entrepreneurs. Technology EvaluationHow do you know if your idea has what it takes to be the next market breakthrough? While there’s no crystal ball, the Office of Business Development does offer technology evaluations to help determine the commercial relevance of an innovation and prepare entrepreneurs for possible participation in the Emerging Innovation Fund. Commercialization WorkshopsNext Event: Key Drivers of Reimbursement Strategy Development and Planning for Medical Devices The presentation is open to Purdue faculty, students and staff and collaborators in the community. The workshop, which runs from 10 a.m. to 11 a.m. is free. |
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How to Apply to the FundThe Emerging Innovations Fund is specifically for young companies and is structured as a loan rather than a grant. Featured StartupMatrix-Bio, Inc. Metabolite Profiling: A more accurate, reliable test for early cancer diagnosis, recurrence detection and treatment monitoring With early detection, cancer is highly treatable and survivable. Yet current diagnostic procedures yield too many false positives and costly, unnecessary biopsies. Purdue-based startup Matrix-Bio, Inc., has developed a technology called “Metabolite Profiling” that diagnoses early stage cancers with greater accuracy than current diagnostic tests and procedures. It also can detect cancer recurrence and monitor treatment. The patent-pending technology relies on biomarkers in body fluids rather than tissue and has applications for a number of cancers. The market potential for early cancer diagnostics is measured in the billions of dollars. Follow UsFollow Us on Twitter, Facebook, and LinkedIn for updates and investment information! |
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With the Emerging Innovations Fund, Purdue University has created a new paradigm for expediting new technology from the lab to the marketplace. It is designed to provide faculty, staff, students and Purdue Research Park startup companies with the targeted funding, support and structure necessary to translate great ideas into commercial products and services. |
Economic growth is driven by innovation—novel ideas that result in new products, processes or services. Purdue researchers are all about ideas: in 2007/2008, 256 new invention disclosures were processed, creating new opportunities for licensable technology, acquisitions and partnerships in promising startup companies. |
How does an idea go from good to great in terms of its investment potential? Purdue University has created a dynamic environment for ideation and innovation, but more importantly, for translating new technologies into commercially viable products and services. Here, potential investors can discover opportunities that are truly “investor ready.” |
Entrepreneurial mentors are business professionals who volunteer to share their street smarts, knowledge, and experience. The Office of Business Development gives Purdue entrepreneurs the resources they need to find and connect with an entrepreneurial mentor. |
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For additional information, please contact: Jonathan D. Gortat | (765) 588-3485 | jdgortat@prf.org
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