Indiana University and the University of Notre Dame have joined with 10 other Midwest universities to launch an online platform designed to connect high-tech startups with experienced business executives. Midwest Executives-on-Roster, or XOR, gives startups access to C-suite personnel to help advance their research into a commercial product.
The Indiana University Research and Technology Corp. says the program’s online platform features a curated list of startups considered to have valuable intellectual property and commercial potential. Executives will be able to review opportunities at the companies and then connect with faculty researchers.
"While university researchers are the best in the world in their academic disciplines, they might not have the knowledge or experience needed to run a company," said Tony Armstrong, chief executive officer of the IURTC. "Midwest XOR will help us improve the matchmaking process between startups and potential leaders and investors. We are also providing career-exploration opportunities for alumni interested in working in exciting, research-proven companies."
Midwest XOR has launched with 22 companies. IU’s first startup in the program is Care Revolution, which aims to reduce unnecessary transfers from nursing homes to hospitals and recently received a $150,000 investment from the IU Philanthropic Venture Fund.
The other university partners in Midwest XOR include Ohio University, Ohio State University, University of Chicago, University of Cincinnati, University of Kentucky, University of Louisville, University of Minnesota, University of Nebraska, and University of Oklahoma.