Foundation to Toast Commercialization Efforts

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Purdue University will announce this year's winner of the Outstanding Commercialization Award next week in West Lafayette. Dozens of faculty and staff members will be recognized during the 10th annual Inventors Recognition Reception. November 13, 2014

News Release

WEST LAFAYETTE, Ind. - A Purdue University professor will be named winner of the Outstanding Commercialization Award for Purdue University faculty, and more than 80 other faculty and staff will be recognized at the 10th annual Inventors Recognition Reception.

The Outstanding Commercialization Award is given annually to a faculty member in recognition of outstanding contributions to, and success with, commercializing Purdue innovations. The award was established with an endowment gift from the Central Indiana Corporate Partnership Foundation.

Event details include:

-When: Tuesday

-Purdue speakers: Mitch Daniels, president; Suresh Garimella, executive vice president for research and partnerships; Debasish Dutta, provost and executive vice president for academic affairs; and Dan Hasler, Purdue Research Foundation president.

-Attendees: More than 150 Purdue innovators and guests.

Purdue innovators at the event will be recognized for receiving a patent during the fiscal year July 1, 2013, to June 30, 2014. Their inventions have resulted, or may soon result, in commercial applications to benefit society.

Purdue Research Foundation officials reported a record-breaking year in commercialization activities for FY14 with 120 licensing deals, compared to 87 the previous year; 156 issued U.S. and global patents, compared to 106 the previous year; and $5.94 million in royalty income. Officials also reported a record 24 startups based on Purdue intellectual property were launched in the fiscal year compared to eight the previous year.

About Purdue Research Foundation

The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2014 Incubator Network of the Year from the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org.

Source: Purdue Research Foundation