Research Foundation News

January 14, 2016  

Purdue FoundryX initiative launches beta site for online community

WEST LAFAYEYETTE, IND – FoundryX, a Purdue Foundry initiative that invites active industry leaders to connect with Purdue startups and patented innovations, recently launched an open beta of its online community.

The FoundryX Forum online community will provide a platform to foster relationships between any Purdue faculty, staff, student or alumni and industry experts who are interested in creating startups based on Purdue innovations.

"The online community incorporated into FoundryX will allow anybody in the community, anywhere, to ask questions and receive quick and effective feedback from experts in a particular field," said Mike Asem, director of collaborative relationships at Purdue Foundry. "Members will be able to connect with others regardless of geographical location and build relationships which we hope will lead to more Purdue related startups and companies, getting Purdue innovations to the marketplace."

Interested participants can sign up for the beta test via the FoundryX Web page at foundryx.org. Users can follow the online community link and create an account to sign up. The FoundryX program encourages people who aren't directly connected with Purdue but are interested in the initiative to sign up.

Asem said experts from a range of industries have already expressed interest in the FoundryX initiative. He said these experts are looking to help Purdue-related startups become large and successful companies.

"Industry experience is invaluable. Having experts and mentors in a range of different fields, and being able to connect them with Purdue people online is a component we think is fundamental to the initiative's success and the success of the startups in our ecosystem," Asem said. "We welcome any 'friend of Purdue' who is interested in the initiative to sign up and become part of the online community. Through the beta site we hope to work alongside members to help improve their overall experience."

Charlie Hu from Mobile Enerlytics, said that the FoundryX forum has had a great impact on his company.

"My company has developed a technology that can extend smartphone battery life by enabling energy-centric mobile app design. I was recently closing a deal with a major software company and had a few questions about the process," he said. "I was able to use the FoundryX online forum to ask questions about the sale process and received immediate feedback from the community, which allowed me to proceed with the deal better equipped and with a better overall understanding."

Asem said Mobile Enerlytics isn't the only company that has benefited from the initiative.

"Through FoundryX we were able to connect Matt Engman, co-founder of Fantronics, a company producing the first wearable technology that allows for better sports fan engagement, with a local high school football coach which has allowed him to test and receive feedback on his product from his target audience in an ongoing relationship," he said. "The FoundryX community also helped Dan Gosling from Chopsaver, a company offering a lip balm invented by a trumpet player, to promote and create awareness of his product that is now being sold in over 7,000 CVS stores."

Other components of the FoundryX initiative include:

* Events that bring business development leaders, entrepreneurs and industry leaders together to review opportunities to license Purdue's available innovations and engage with early-stage, high-tech startups.

* Online, virtual connections through eNewsletters and online forums.

* Ambassadors who will work in communities across the state to provide information and guidance about startup creation and licensing opportunities.

* A mentorship network for experts from industry who are interested in mentoring entrepreneurs and innovators looking to commercialize high-tech innovations.

The organization will be hosting its first networking and showcase event that will feature various industry technologies from startups as well as the newest technologies from Purdue that are available for license. Asem said whether you're interested in joining a startup or mentoring a company, all are welcome to request an invitation. The event will be held from 5:30 -7:30 p.m. Jan. 26 at the new Launch Fishers, 12175 Visionary Way, Fishers, Indiana. To request an invitation to the event please email DMAsem@prf.org. For more information, visit foundryx.org

About Purdue Foundry

The Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at purduefoundry.com 

Purdue Research Foundation Contact: Hillary Henry, 765-588-3586, hkhenry@prf.org 

Source: Mike Asem, 765-588-5257, dmasem@prf.org 

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