The University of Southern Indiana says a collaboration with Purdue University has led to the discovery of previously-unidentified commercialization resources. The state-funded initiative documented the resources used by existing southwest Indiana startups, and uses the data to help connect entrepreneurs and organizations to local economic development offices, co-working spaces and commercialization opportunities at the Crane Naval Surface Warfare Center. USI says three successful startups have been created as a result of the process.
They are Pivot Engineering LLC and H&H Heating Sources LLC, both in Evansville and Jasper-based Somatics Systems LLC.
USI says the Rural Indiana Technology Commercialization Initiative received funding from the Indiana Office of Defense Development. Partners involved in the collaboration include USI’s Technology Commercialization Academy, USI’s Applied Engineering Center, Purdue Foundry and Indiana University’s law clinic services. USI says the groups’ resources helped lead to the transfer of Crane intellectual property to the market.
USI Director of Opportunity Development Daniela Vidal says "we identified more resources supporting Indiana technology commercialization than were previously known. An initiative with this many entities and services requires dedicated project management with intentional coordination and communication among partners so that resources can be used to maximize benefits for our region, especially within the rural areas. We are pleased with the positive outcomes of the collaboration."
Resulting recommendations from the initiative include:
establishing a state fund to support innovation commercialization
establishing an external entity in the Westgate area to provide program management and coordination
capitalizing on currently supported technology commercialization activities, while also seeking other funding opportunities.
You can connect to more on the initiative by clicking here.
USI Director of Opportunity Development Daniela Vidal tells Inside INdiana Business many entrepreneurs have struggled with the same challenges.