Purdue University says record startup activity on the West Lafayette campus is creating a pipeline for the Indiana economy. The Purdue Foundry announced last week that it has launched 165 startups since opening in 2013, 100 of them with Purdue intellectual property. "Eighty percent of those companies that we are working with have stayed here in Indiana," said Purdue Director of Innovation and Entrepreneurship Greg Deason, who adds the new innovation and competition create an "economic dynamism" that stimulates additional job creation.
In an interview on Inside INdiana Business Television, Deason said Purdue’s startup success has been years in the making.
Purdue says 152 of the 165 startups are in active operation, with 137 of those based in Indiana. The school says the startups have attracted more than $230 million in funding and span industries including engineering, agriculture, information technology, veterinary science, technology, biomedicine and pharmaceuticals.
"We have been so proud to see our name among some of the leading ecosystems in the world for startup production," said Deason. "That bodes well, not only for the state of Indiana, but for the entire region around Indiana."
A Milken Institute report, issued in April, ranked Purdue number one in the Midwest among the best universities for technology transfer. In a report released in July by the National Academy of Inventors and the Intellectual Property Owners Association, Purdue ranked 12th in the world among universities granted U.S. utility patents. Purdue’s Office of Technology Commercialization boasted 123 U.S. patents and 222 licensing deals of Purdue intellectual property.
You can connect to a full list of Purdue-affiliated startups by clicking here.
Watch the full Greg Deason interview: