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August 5, 2013

Purdue's Emerging Innovations Fund sets Aug. 31 application deadline

WEST LAFAYETTE, Ind. - Startups that have licensed innovations developed at Purdue University or are based in the four-site Purdue Research Park network are eligible to apply for a round of funding from the Emerging Innovations Fund. The cumulative funding of all awards will total up to $150,000.

The deadline to apply for funding is Aug. 31. Applications may be submitted to Jonathan D. Gortat, jdgortat@prf.org, project manager at the Purdue Office of Technology Commercialization, in a Microsoft Word or PDF format. Due diligence will be conducted through Dec. 14, with awards determined later that month. Once a project is reviewed and recommended, investments may be tranched in accordance with milestone events.

Applications must include the following:

* Full business plan, complete with a financial plan, marketing strategies and an executive summary.

* Company contact information, including management team names and titles, previous investors, IP status, number of employees, and the amount of capital sought.

* Planned use of the requested investment, including specific product development events to be accomplished.

Applications also must include 250-word descriptions of the following: one-line pitch; business summary; management team qualifications; customers' problem; company's solution; market definition; list of current and potential customers; sales and marketing strategy; business model; competitive landscape, including a list of competitors; and competitive advantages and a list of barriers to entry.

Application assistance is provided through the Purdue Office of Technology Commercialization. Questions should be directed to Gortat at 765-588-3485, jdgortat@prf.org, or visit http://otc-prf.org/emerging-innovations-fund

Previous funding from the Emerging Innovations Fund was awarded to Bioscience Vaccines, Matrix-Bio, Medtric Biotech, Microfluidic Innovations, Spensa Technologies and Tymora Analytical Operations.

The Emerging Innovations Fund was established in 2008 by the Purdue Research Foundation and Purdue University to expedite the process of moving research discoveries to commercial delivery. Funds distributed through the Emerging Innovations Fund are made on a competitive basis. The fund is designed to be self-sustaining by making investments as a loan with equity participation.

About the Emerging Innovations Fund

In 2008 Purdue Research Foundation and Purdue University introduced the Emerging Innovations Fund, an integrated approach to research innovation, development and commercialization. The Emerging Innovations Fund is a self-sustaining initiative that brings together ideas, management and money to accelerate the commercialization of early-stage technologies in the Purdue community.

About Purdue Research Foundation

Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. The foundation accepts gifts; administers trusts; funds research, scholarships and grants; acquires property; and negotiates research contracts on behalf of Purdue. In the 1990s, the foundation was charged with helping the university in the realm of economic development. The Purdue Research Foundation oversees the Purdue Research Park, which is the largest university-affiliated business incubator in the country. In addition to the Purdue Research Park of West Lafayette, the foundation has established technology parks in other locations around Indiana including Indianapolis, Merrillville and New Albany.

About Purdue Office of Technology Commercialization

The Purdue Office of Technology Commercialization operates one of the most comprehensive technology-transfer programs among leading research universities in the United States. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities.

Purdue Research Foundation contact:

Steve Martin, 765-588-3342, sgmartin@prf.org 

Source:

Jonathan D. Gortat, 765-588-3485, jdgortat@prf.org