Agreement to foster technology commercialization, startup creation in Southern Indiana, Northern Kentucky
February 12, 2014
NEWALBANY, Ind. and LOUISVILLE, Ky. — An agreement among Purdue Foundry, Purdue Technology Center of Southeast Indiana and Boiling Point LLC will add another avenue to commercialize Purdue innovations.
The partnership, comprised of representatives from Purdue Research Foundation and Boiling Point, will meet on a regular basis at the Purdue Technology Center, located in New Albany, Ind., to identify and commercialize Purdue technologies through a variety of business models.
"There are a number of serial entrepreneurs in this area who have a strong desire to move cutting-edge technologies to the real world where they can make a difference," said Paul Moses, director of the center. "This agreement will help generate more startups in Southern Indiana and give local and regional entrepreneurs the opportunity to take advantage of the incubator program at the Purdue Technology Center."
The center provides an incubator program that offers business accelerator services, shared office services, managed mail services, marketing assistance, HR recruitment services and conference space, as well as access to Purdue Foundry support from West Lafayette, Ind.
The various types of technologies to be considered for commercialization through the agreement include life sciences, manufacturing, engineering, IT and other high-tech innovations.
"What's great about Boiling Point partnering with Purdue is that we know the university has a constant stream of technologies moving through their pipeline," said Mike Pattison, founder of Boiling Point. "We have already identified a number of patented technologies that are available and we are working to connect the technologies to local entrepreneurs and venture capitalists with an end goal to create a startup and get these innovations to the market."
Pattison said factors involved with a decision to market a technology include:
* Technology readiness level.
* Business plan development.
* Market analysis.
* Licensing rights.
* Regulatory requirements.
Boiling Point officials have opened an office in the Purdue Technology Center at 3000 Technology Ave., New Albany. The site is located in the Purdue Research Park of Southeast Indiana.
Purdue Research Park of Southeast Indiana
The Purdue Research Park of Southeast Indiana is one of four business incubation sites across Indiana operated by the Purdue Research Foundation. The New Albany site has 11 companies supporting 107 jobs in the Purdue Technology Center. Other park locations are West Lafayette, Merrillville and New Albany. The park network has nearly 260 companies and 4,500 people working in high-tech sectors. With a combined 500,000-square-feet incubation space, the park has four of the top 10 incubators in Indiana. An independent study reports that the Purdue Research Park network contributes $1.3 billion annually to Indiana's economy.
Writer: Cynthia Sequin, 765-588-3340, casequin@prf.org
Sources: Paul Moses, 812-206-8399, pemoses@prf.org
Michael Pattison, 502-552-1843, michaelpattison@gmail.com
