Purdue University has posted record-breaking numbers in commercialisation activities for the fiscal year ending June 30 with 40 start-ups, of which 25 are based on Purdue-licensed intellectual property, officials announced.
The global and the US patents filed through the Purdue Research Foundation Office of Technology increased by 14 per cent in the year 2014-15. The number of invention disclosures filed also saw a jump by 12 per cent and 241 technologies were licensed to 131 entities.
Last year's Purdue Start-up Class of 2014 brought in more than $25 million in venture funding and created 75 new positions in Indiana this year. A recent report released by the National Academy of Inventors and the Intellectual Property Owners Association ranked Purdue 16th in the world, up from 36th in 2012, among universities granted the US utility patents.
“The entrepreneurial ecosystem at Purdue and around Indiana is growing every day with hundreds of people and partners working together to help entrepreneurs and innovators get their start-ups off the ground,” said Dan Hasler, president and chief entrepreneurial officer of the Purdue Research Foundation in a statement. “The resources that Purdue-affiliated start-ups can access area tremendous help as well.”
The Purdue-affiliated entrepreneurs has full access to the university's resources including Purdue Foundry, a business incubator to help Purdue faculty, staff and students create start-ups.
The university also has a $12 million Foundry Investment Fund to support life-sciences start-ups originating from Purdue innovations.