West Lafayette, IN-based Purdue Startup Fund, a $10m resource to create and grow startups by Purdue University alumni, has been officially launched.
Jointly funded by Purdue alumni and the Purdue Research Foundation, the fund is designed to increase seed capital available to investment-worthy startups and the generation and commercialization of intellectual property at Purdue.
The initiative will be managed by the Purdue Foundry, the university’s startup acceleration hub, and the University Development Office.
Purdue University is a recognized international leader in technology commercialization and startup creation. In 2015, it created 40 new companies of which 25 were based on Purdue intellectual property, received 178 global patents, filed 317 invention disclosures and closed 241 technologies licensed.