Purdue Innovates updates support for both inventors and entrepreneurs

WEST LAFAYETTE, Ind. — At Purdue, innovation doesn’t stop at discovery. It’s where big ideas ignite bold startups and world-changing inventions with excellence at scale. Launched in April 2023 and updated in summer 2025, Purdue Innovates helps Boilermakers transform problems into possibilities: protecting IP, launching new companies, funding bold solutions and partnering with industry to create real-world impact. Over the past two years, the initiative has unified technology transfer, startup incubation and venture investment. Now this streamlined system has even more to offer for Boilermakers to turn ideas into impact.

Purdue Innovates serves as the unified front door for technology commercialization, startup incubation and venture investment for faculty, staff, students and alumni — both inventors and entrepreneurs — to accelerate the Purdue innovation ecosystem.

The university consistently ranks among top global universities for its commercialization and entrepreneurship efforts. Purdue ranked fourth among all U.S. universities and seventh among worldwide universities for 213 U.S. issued patents, placing the university in the top five in the U.S. for four years running.

“Purdue Innovates is committed to the success of Boilermaker innovators across the university, its research foundation and alumni network,” said Purdue President Mung Chiang. “First, through the generation and licensing of intellectual property, such as patents, where Purdue continues to lead nationally. Second, through enterprise creation at scale, by supporting the launch and growth of startups founded by our students, faculty and alumni. Purdue Innovates simplifies and amplifies the support system for Boilermaker entrepreneurs and inventors alike.”

Under Purdue Innovates’ strategic guidance, millions of people benefit from the cutting-edge research that takes place at Purdue and will continue to support exceptional Boilermaker talent to solve some of the world’s most pressing issues.

Recent startup and commercialization highlights from the Purdue Innovates ecosystem include:

• Purdue received more than $100 million as a portion of its royalty interest in the prostate cancer drug Pluvicto, developed by Philip Low in early 2023.
• Eradivir, a clinical-stage small molecule immunotherapy biotech company, raised $10.25 million in a Series A funding round to complete its Phase 2 human challenge study of EV25, an antiviral therapeutic built on a platform created in Low’s lab. With international attention and excitement, the combined earned media opportunities for Eradivir totaled a potential audience reach of over 5 billion in one year.
• Affirming Purdue Innovates as a protector of all who pursue innovation, Purdue won a patent infringement lawsuit against STMicroelectronics in fiscal year 2024 — resulting in $32.5 million awarded to the university in past compensatory damages — protecting Purdue IP from unauthorized use.
• In 2023 Adranos Inc., a startup that originated at Purdue and developed the advanced solid rocket fuel ALITEC, was acquired by defense technology company Anduril Industries.

“Respected globally, the legacy of commercialization and startup creation at Purdue is built on cutting-edge research that benefits millions of people worldwide,” said PRF President and CEO Chad Pittman. “We’ve entered a new chapter defined by bold innovation and strategic alignment with the university’s goals, ensuring we continue to serve the needs of the Purdue entrepreneurial ecosystem with streamlined processes for commercialization and startup creation.”

Building on a strong legacy of commercialization and entrepreneurial support, Purdue Innovates continues to expand its impact through a suite of new cornerstone programs:

• Purdue Innovates Accelerator, a three-month, investment-based startup program that empowers founders to transform their bold visions into disruptive impact. The inaugural cohort welcomed five Purdue-connected companies to the fast-paced accelerator.
• Commercialization Fellowship provides recent PhD graduates and postdoctoral researchers an opportunity to advance commercialization of Purdue-owned intellectual property through startups or licensing to industry. Four Commercialization Fellows took part in the initial cohort, taking ideas from the lab and into the real world.
• The Low Institute for Therapeutics (LIFT) was announced this fiscal year, which offers a new approach to advancing Purdue technologies into the marketplace and building on the success of Purdue Innovates’ therapeutic commercialization efforts.

The streamlined system continues to enhance programming that funds students, faculty, staff and alumni:

• Advancing student entrepreneurship through enhanced funding opportunities in existing programs like the Moonshot Pitch Challenge and New Venture Challenge, which have collectively awarded over $75,000 in cash prizes to student startups over the last two years.
• Supporting Purdue researchers through the “valley of death” with the Trask Innovation Fund, which allows recipients to receive up to $50,000 for their initial project and up to $100,000 total.
• Additional programs and funding to de-risk Purdue intellectual property, such as prototyping funds and industry-funded capstone projects, FusionPoint.

Purdue innovations can be found in all 50 U.S. states and in over 100 countries around the world. In fiscal year 2025, the office reported 161 licensing deals, of which 18 were to startups by Purdue faculty or students, with 269 technologies licensed. With 267 U.S. and international patents received, it also ranks among the top four universities in receiving U.S. patents.

“From Indiana to the far reaches of the globe, Purdue innovators, innovations and Purdue-connected alumni, startups and enterprises are transforming industries, improving lives and shaping the future,” said Brooke Beier, senior vice president of Purdue Innovates. “With record-setting achievements in invention, licensing and patents, Purdue Innovates proves that Boilermaker ideas don’t just stay in the lab, the classroom or our minds — they reach the world. As we look ahead, we must continue to evolve and push boundaries in how we support and enable these efforts with both infrastructure and the community they need to thrive.”

The Purdue Innovates umbrella covers:

• Office of Technology Commercialization, one of the most comprehensive technology transfer programs among leading research universities in the U.S. The technologies supported by OTC are available at inventions.prf.org.
• Incubator, the front door to the rich ecosystem of programs and services designed to help early-stage startups take their next step
• Ventures, strategic support, early-stage investment and community activation for Purdue-connected, venture-scale startups with strong growth potential across agriculture, deep tech, digital tech, mobility and life sciences.

These units collaborate with other Purdue entrepreneurial programs, including:

• Certificate in Entrepreneurship and Innovation
• Digital Innovation in Agriculture Systems Lab (DIAL)
• I-Corps, where Purdue is the Midwest hub’s co-lead
• Colleges across campus that support commercialization activities, including Agriculture, Business, Engineering, Polytechnic, Science and more
• Many student startup organizations such as Anvil

Key partners such as Silicon Valley Boilermaker Innovation Group (SVBig), High Alpha with DIAL and others remain an integral part of the Purdue Innovates startup ecosystem, where they help advance, mentor and fund high-value startups.

By welcoming all Purdue innovators and Purdue-connected companies though a unified front door to commercialization and entrepreneurship, Purdue Innovates takes the guesswork out of where to go for assistance and builds capacity for entrepreneurs and innovators to bring novel ideas to the market faster.

About Purdue Innovates 

Purdue Innovates is a unified network at Purdue Research Foundation to assist Purdue faculty, staff, students and alumni in either IP commercialization or startup creation. As a conduit to technology commercialization, intellectual property protection and licensing, startup creation and funding, Purdue Innovates serves as the front door to translate new ideas into world-changing impact. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at otcip@prf.org. For more information about involvement and investment opportunities in startups based on a Purdue innovation, contact Purdue Innovates at purdueinnovates@prf.org.