Rose-Hulman Ventures Marks 15 YearsPosted: Updated:
An engineering consulting business at Rose-Hulman Institute of Technology is celebrating its 15-year anniversary. Rose-Hulman Ventures connects local and national businesses with interns and project managers, while allowing the companies to keep commercial rights and project-related intellectual property. The school says about 1,000 students and 170 clients have benefited from the operation. Rose-Hulman Ventures works with a variety of partners, from startups to global corporations. November 10, 2014
TERRE HAUTE, Ind. - Rose-Hulman Institute of Technology's design and product development operations, Rose-Hulman Ventures, is celebrating 15 years of delivering technology-based solutions that yield industry results and address real-world business challenges.
Founded in 1999 with Lilly Endowment Inc. support, the engineering consulting business has worked with 170 client partners on innovation-based projects for a variety of industry sectors. More than 990 student interns have worked in the 35,000-square-foot facility on Rose-Hulman's South Campus with professional-level laboratory equipment, engineering tools, machine shops, and workspaces.
"Rose-Hulman Ventures differentiates itself from other university incubators and centers of excellence by balancing top-quality learning experiences for students with business value for clients, and allowing clients to keep commercial rights to project-related intellectual property," said Elizabeth Hagerman, PhD, vice president for Rose-Hulman Ventures.
Innovative engineering solutions developed for clients across Indiana, as well as with companies that have regional, national, and global operations, include:
-FAST BioMedical: Rose-Hulman Ventures has helped this private, Indiana-based clinical stage medical technology company develop technology for quantifying volume status and kidney function in a clinically actionable timeframe. FAST BioMedical completed its Phase I trial in Germany and is currently enrolling a Phase II trial in the United States.
-Precision Planting: Agricultural data collection tools have been developed to help farmers reach their best yield. One device uses an iPad application to document the distance between freshly sprouted cornstalks -- collecting more than three million data points during the past two years from fields across Texas, Louisiana, Kentucky, Illinois, and Iowa.
-Remy: A system was designed to test different alternator frequency ranges that helped the company design methods for engines and alternators to interact more effectively. This productive relationship has also been a success for Conexus Indiana, an initiative designed to capitalize on emerging opportunities in advanced manufacturing and logistics and align resources and expertise to make Indiana a leader in these industries.
-GlasCol: As one of Rose-Hulman Ventures' first clients, student interns have aided in the development of multiple high-quality lab products to support the Terre Haute company's mission to be a worldwide leader in the field of laboratory products and industrial heating and mixing equipment.
Providing top-quality engineering talent at a competitive cost, Rose-Hulman Ventures has also assisted in developing products for NICO Corporation, Simma Software, and General Electric Power and Water. Projects generally last three to nine months and are supported by teams of two to six people, including student interns and a project manager who is an engineer and industry veteran.
Rose-Hulman Ventures was established and later expanded with grants totaling $55 million from Lilly Endowment Inc.
Learn more about Rose-Hulman Ventures at www.rhventures.org.
About Rose-Hulman Institute of Technology
Founded in 1874, Rose-Hulman Institute of Technology is dedicated to preparing its students with the world’s best undergraduate science, engineering, and mathematics education in an environment infused with innovation, intellectual rigor, and individualized attention. The college, located in Terre Haute, Indiana, has an enrollment of approximately 2,200 undergraduate students and 100 graduate students. A national survey of engineering department deans and senior faculty, conducted by U.S. News & World Report, has consistently ranked Rose-Hulman and its academic programs No. 1 in undergraduate engineering education. Six of the institute's professors were featured in The Princeton Review's Best 300 Professors book, the only institution of higher learning in Indiana to be included. Learn more at www.rose-hulman.edu.
Source: Rose-Hulman Institute of Technology