Purdue ranked No. 6 nationally for startup creation through technology transfer activities

December 5, 2011

WEST LAFAYETTE, Ind. - The Association of University Technology Managers, a nonprofit association of academic technology transfer professionals, ranked Purdue Research Foundation's Office of Technology Commercialization No. 6 nationally for its commercialization success in creating startups through tech transfer activities for the past fiscal year.

Technology transfer activities represent discoveries made at a research institution that are developed into a viable product or service, patented and then commercialized for the public through new companies.

The newest survey, released Thursday (Dec. 1), measures fiscal year 2010. Purdue had 11 startups created during that time. The University of Utah was No. 1 with 18 startups, while MIT was second with 17 new companies. Brigham Young University had 13, Columbia and Cornell both had 12. Purdue tied Johns Hopkins with 11, and Cal Tech, Carnegie Mellon University and the University of Michigan all had 10 startups during the same period.

"The steady development of discoveries by Purdue faculty contributes greatly to the outstanding success of our technology transfer activities," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. "Our Office of Technology Commercialization and its team of project managers are constantly working to secure the intellectual property of Purdue and move new discoveries through the commercialization process."

The Association of University Technology Managers (AUTM) ranks institutions on several criteria, including number of employees, expenditures, patents and startups. In fiscal year 2010, 651 new companies were formed as a result of university research, an increase of 9 percent over the previous year, according to the survey.

"Purdue's innovation ecosystem is healthy on many levels, including the commercial deal flow and new venture creation based on Purdue discoveries," said Elizabeth Hart-Wells, assistant vice president and director of the Purdue Office of Technology Commercialization. "It is an honor to be ranked so highly in comparison with our institutional peers and a well-deserved pat on the back to the Purdue researchers and the OTC staff."

Purdue's listed startups for fiscal year 2010 are:

1. QE Corp., West Lafayette, Ind. Yeong E. Kim, professor, Department of Physics.

2. FlexTissue Biomedical LLC, West Lafayette, Ind. Ozan Akkus, associate professor, Weldon School of Biomedical Engineering.

3. Sendsor Corp., Sudbury, Mass. Pedro Irazoqui, associate professor, Weldon School of Biomedical Engineering; associate professor, School of Electrical and Computer Engineering.

4. Linus Pharma, Miami. Mark S. Cushman, Distinguished Professor of Medicinal Chemistry, Department of Medicinal Chemistry and Molecular Pharmacology

5. IV Diagnostics LLC, West Lafayette, Ind. Wei He, then in the Purdue Department of Chemistry.

6. GlucaGo LLC (now LyoGo LLC), West Lafayette, Ind. Purdue graduate student.

7. LogView LLC, West Lafayette, Ind. Rado Gazo, professor, Department of Forestry & Natural Resources.

8. Snare Inc., West Lafayette, Ind. Ephraim Fischbach, professor, Department of Physics.

9. Spensa Technologies Inc. West Lafayette, Ind. Johnny Park, research assistant professor, School of Electrical and Computer Engineering.

10. VibraTEQ LLC, Fort Wayne, Ind. Douglas E. Adams, Kenninger Professor of Renewable Energy and Power Systems, School of Mechanical Engineering.

11. Smart Hydraulic Solutions LLC, Lafayette, Ind. Monika Ivantysynova, MAHA Fluid Power Systems Professor, School of Mechanical Engineering; professor, Department of Agricultural and Biological Engineering.

Also this year, a Purdue University technology that provides a rapid wireless communication system was named to the AUTM Better World Report for its contribution to the safety and welfare of people around the world. The technology has been successfully commercialized through an Indianapolis-based company called BATS (Broadband Antenna Tracking Systems).

About AUTM

The Association of University Technology Managers is a nonprofit organization with an international membership of more than 3,000 technology managers and business executives. AUTM members - managers of intellectual property, one of the most active growth sectors of the global economy - come from more than 300 universities, research institutions and teaching hospitals as well as numerous businesses and government organizations.

About Purdue Research Foundation's Office of Technology Commercialization

Purdue Research Foundation's 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.

Media contact: Cynthia Sequin, 765-588-3340, casequin@prf.org

Sources: Joseph B. Hornett, 765-588-1040

               Elizabeth Hart-Wells, eahart-wells@prf.org

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