Purdue News

December 4, 1998 Gateways Program takes new businesses under wing WEST LAFAYETTE, Ind. -- With the implementation of the Purdue Gateways Program, high-tech start-up companies in the Purdue Research Park will have access to professional business assistance -- including market analysis, networking and access to financial resources. Modeled after a highly successful incubator program in Pittsburgh, the Gateways Program will be a mentoring presence for the many businesses throughout the Research Park. "It will provide an infrastructure for the commercialization of new technology," said Sam Florance, who was hired Oct. 1 as the program's director. Along with Florance, the Gateways Program has created a task force of accountants, attorneys, bankers and others who can provide a diverse perspective in response to a new business venture. The mentoring opportunity involves mainly Purdue alumni who have distinguished themselves in their specific areas. "The very best innovators can benefit from others' experiences in initiating and maintaining a business," said Stan Mithoefer, director of real estate for the Purdue Research Foundation. "These prospective entrepreneurs are heavily involved in their own research. This program aims to raise their awareness of the need for a business plan and the capital requirements of starting a new business." The program makes available resources that can identify market prospects, develop a prototype, launch marketing activities or develop financial resources. "Most incubators don't have that kind of support," Mithoefer said. The Gateways Program will focus on new technology-based businesses. Such businesses wishing to obtain space within either of the park's two small-business incubators -- the Business Technology Center or the Purdue Technology Center -- will be expected to present a brief summary of their technology and market prospects to the Gateways Task Force. The task force will consider the company's readiness to enter into business. If the company is approved, the Purdue Research Foundation will offer to lease incubator space to the business. Once inside the incubator, companies will benefit from a shared office concept, flexible leases, attractive rental rates and some shared office services. The incubator buildings' net revenues will be available to the Gateways Program. The Purdue Research Park, which opened in 1961, is home to 81 companies that employ 2,500 people. It covers almost 700 acres, of which 120 have been developed by the Purdue Research Foundation, the nonprofit corporation that sponsors the park. CONTACTS: Mithoefer, (765) 494-1727; e-mail: smithoef@purdue.edu Florance, (765) 496-6140; e-mail: florance@purdue.edu Purdue News Service: (765) 494-2096; e-mail, purduenews@purdue.edu