Purdue Foundry Opens With Ambitious Goals

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An entrepreneurship and commercialization hub is set to open this week. The Purdue Foundry aims to double the number of successful Purdue University startups over the next two years. The center will be based in the Burton D. Morgan Center for Entrepreneurship and offer resources on marketing, financing and navigating regulations. Executive Director Greg Deason discussed the foundry on Inside INdiana Business Television. Deason says his goal is to reach 12 new startups this fiscal year by working directly with innovators. He says the school has a "tremendous number of brilliant minds thinking of ideas," and believes the foundry will allow them to connect with experienced entrepreneurs, including Purdue graduates.

The center also plans to form partnerships with outside organizations such as Indianapolis-based startup support firm Elevate Ventures.

The Foundry, which is owned by the Purdue Research Foundation, will officially open August 20.

Source: Purdue University