Partnership Aims For Faster CommercializationPosted: Updated:
The Purdue Foundry is partnering with an Indianapolis-based company in hopes of speeding up the commercialization process for Purdue University innovations. VisionTech Partners LLC aims to connect early-stage companies to angel investing groups in multiple Indiana communities.
March 11, 2014
West Lafayette, Ind. -- The Purdue Foundry and VisionTech Partners, LLC have entered into an agreement to expedite the transfer of Purdue innovations to the public through commercialization deals and development of startups.
"The individuals involved in the collaboration are experienced entrepreneurs and investors, which is needed to move technologies to the public and create successful startups," said Greg Deason, vice president and executive director of the Purdue Foundry. "Our plan is to identify startups where we can mutually apply our skills and resources and advance an innovation."
The Foundry is an entrepreneurship and commercialization hub at Purdue University, and VisionTech Partners is an Indianapolis-based company focused on connecting investors to high-potential, early-stage companies. VisionTech Partners has angel investing groups in Indianapolis, Lafayette, Bloomington and Warsaw, as well as a virtual angel group. The collaboration, comprised of representatives from both groups, will meet on a regular basis to discuss potential commercialization investments.
"Purdue has a strong research ecosystem to generate new innovations and technologies, and this partnership will enrich both of our goals of identifying promising technologies created at Purdue and providing support and funding to advance the commercialization process," said Oscar Moralez, managing director of VisionTech Partners. "We have already met with a number of Purdue entrepreneurs who are looking for capital or other assistance essential to startup companies."
The agreement includes providing potential pathways and resources to support startup activity including mentoring for entrepreneurs, identifying talent and expertise resources and support for participating in business competitions, seminars and other programs.
"We're reviewing several startups representing various sectors including engineering, IT, manufacturing, life sciences and agriculture," Deason said. "Because of the high caliber of the entrepreneurs and their innovations, one of our biggest challenges is deciding which startups to support. That is a good challenge to manage."
About Purdue Foundry
Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship. The foundry collaborates with longstanding activities already taking place in the center with a goal to increase the growing demand from Purdue innovators who have an interest in forming a startup or licensing their discoveries. The foundry is supported and managed by the Purdue Research Foundation and its team of intellectual property, business development and venture capital experts.
About VisionTech Partners, LLC
Founded in 2008, Vision Tech Partners is a privately held company focused on linking investors to high-potential early-stage companies. Headquartered in Indianapolis, one of the most vibrant innovation regions in the country, VisionTech Partners is where inventors, entrepreneurs, investors, universities, and strategic partners converge to share, develop, fund, and launch innovative technologies. Learn more at http://www.VisionTech-Partners.com
Source: Purdue University