The Purdue Research Foundation is partnering with a Los Angeles-based venture capital firm in an effort to bring more venture funding to Purdue research, technologies and startups. The university says the deal with Kairos Ventures "provides additional leverage for Purdue’s startup ecosystem and supports investments in companies commercializing Purdue’s intellectual property."
In addition to funding, Kairos provides startups with mentorship from industry experts and assistance with sales and marketing. Some of the benefits of the partnership, Purdue says, include:
- Early-stage investment in incubating companies
- Executive assistance to help guide incubation companies
- Series A funding for companies so positioned
- Regular reviews of available technologies and investment opportunities
- Participation in events, entrepreneurship competitions, showcases, business plan competitions, etc.
Dan Hasler, chief entrepreneurial officer at Purdue, says the partnership opens a new door for technologies and startups coming from the university.
"We anticipate that this multi-million dollar collaboration will provide another strong avenue to move Purdue’s life-changing innovations to the marketplace through successful commercialization," said Hasler. "The funding could be used in a number of ways from pre-commercialization research projects to early-stage investments to Series A investments in companies."
The university says Purdue Ventures will provide matching investments to the funding awarded by Kairos "if appropriate and possible."