IDEA Center Touts New Startups

Posted: Updated:
(photo courtesy University of Notre Dame) (photo courtesy University of Notre Dame)
SOUTH BEND -

In its first year of operation, the IDEA Center at the University of Notre Dame has surpassed its goal for launching faculty and student startups companies. The university says a total of 27 startups were created between July 2017 and June 2018, topping the original goal of 16.

Notre Dame says the number of new startups nearly equals the total amount launched by the university in its entire 175-year history prior to 2017. The university's previous single-year record for new startups was three in 2016.

Since launching, the companies have raised a collective total of more than $4 million in investments or grants, created 83 jobs, launched 23 products, and generated more than $500,000 in sales, according to the IDEA Center. They represent a number of sectors, including healthcare, information technology, law, and media.

"The IDEA Center and its team members have done a wonderful job during their first year translating faculty, staff and student ideas into innovation success stories,” said Thomas Burish, provost at Notre Dame. "In the process, they also worked with others at the University and throughout the South Bend-Elkhart region to create tremendous energy and enthusiasm among those with the passion and drive to see their ideas through to successful launch."

Notre Dame says in order to qualify as a startup, a company must be licensed as a business, have a business plan and management team, and have completed the IDEA Center's "de-risking" process, which assesses ideas for their market potential.

"The success of the IDEA Center’s strategy indicates that a strong focus on startups in the South Bend-Elkhart region will lead to the potential for significant economic growth, such as that seen in other technological hub cities in the country,” said Bryan Ritchie, associate provost and vice president for innovation. “In time, we believe this region will retain and attract even more of tomorrow’s brightest, most innovative minds.”

The IDEA Center says its goal for the 2018-2019 fiscal year is to create 30 startups and plans to increase the goal each year. You can learn more about each of the startups and the IDEA Center by clicking here.

  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      Crews Start Demolition of Carson's in Hammond

      The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s. 

    • Some 'Emerging Ethical Dilemmas' Already Here

      An annual list of emerging ethical dilemmas and policy issues in science and technology has been released by the John J. Reilly Center for Science, Technology, and Values at the University of Notre Dame. It includes robotic clergy, a crime reporting app and facial recognition technology that could read emotions.

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Cuts Jobs, Low Price Imports Partially to Blame

      Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs. 

    • UPDATE: Nestl√© Details Fort Wayne Layoffs

      Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.

    • (Photo courtesy Batesville Tool & Die)

      Batesville Tool & Die Acquires Tipton Company

      Batesville Tool & Die is adding to its portfolio. The metal stamping manufacturer has acquired a majority interest in Tipton-based DC Coaters LLC. Financial terms of the deal are not being disclosed.