Purdue FoundryX initiative secures over 50 industry mentors, holds first event

January 27, 2016  

WEST LAFAYEYETTE, Ind. – Purdue Foundry announced on Jan. 21 that FoundryX, an initiative that invites active industry leaders and business experts to connect with early-stage Purdue startups and patented innovations that are available to license, has attracted over 50 mentors to help facilitate its mission to collaboratively drive new technologies to market.

FoundryX also held its first networking and tech showcase event on Jan. 26 at the Launch Fishers, 12175 Visionary Way, Fishers, Indiana, for those interested in joining a startup, mentoring a company or learning more about FoundryX.

"We believe that mentors who have a wealth of knowledge and experience in specific industries will play a huge role in helping the startups of FoundryX grow into larger companies and help with the commercialization process of our technologies," said Mike Asem, director of collaborative relations at Purdue foundry. "The overwhelming interest from mentors so far has shown us that people are excited to be a part of this initiative, and the innovation and commercialization taking place at Purdue. We hope that as the program grows, more mentors will join, in a more engaged way, by serving on advisory boards or even joining teams as executives or co-founders."

Kristen Cooper, an executive at Sticksnleaves, a technology consulting firm, and founder of The Startup Ladies and indyfeminist.com, said she is excited to make an impact in the Indiana entrepreneurial community through FoundryX.

"As the founder and vice president of different companies, I'm deeply rooted in the entrepreneurial community," she said. "Serving as a FoundryX mentor allows us to strengthen collaborations between startup communities and help grow the number of women-owned businesses. Together, I look forward to increasing resources and investments in scalable startups which will lead to new job opportunities in the state."

Another FoundryX mentor, Jeffrey Eschbach, CEO and founder of Page Vault, a company dedicated to bringing cloud-based business solutions to the legal space, and a National Science Foundation fellow, said he also is excited to experience FoundryX as a mentor.

"As an entrepreneur myself, I joined FoundryX as a way to give back to the startup community. Numerous mentors have shared time and knowledge with me over the years, and this community provides a great way to do the same for others," he said. "I'm especially excited to see how the membership is growing with both passionate founders and experienced entrepreneurs, providing a great 'network effect' for everyone involved. I'm looking forward to even more participation and successful startups as FoundryX keeps expanding in 2016."

A growing list of FoundryX mentors can be found at purduefoundry.com/foundryx.

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 foundry@prf.org 

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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