Purdue Startups to Receive $750K
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThree startups based on Purdue University technologies are eligible to receive investments totaling $750,000 in matching funds from the Purdue Research Foundation’s Foundry Investment Fund. Purdue says the funding will support the commercialization and stability of the growing companies.
The fund was created in 2014 through a partnership between Purdue Research Foundation and Cook Medical.
Animated Dynamics Inc. is slated for a $250,000 matching investment from the fund.
Brightlamp Inc. and Predictive Wear LLC each could receive $250,000 from the fund if they are able to raise enough capital to match.
“Through its matching fund program, the Foundry Investment Fund plays an important role in attracting interest in Purdue-affiliated life sciences companies,” said John Hanak, managing director of Purdue Ventures, in a news release. “These companies are advancing quickly and have already received funding and investments from other sources making them eligible for this fund.”