July 30, 2008

High school students present business acuity following week-long Purdue Research Park Entrepreneurship Academy

During the program, students learned how to conceive a business plan, identify a customer base, study the competition and develop a marketing plan. Participants were divided into five-member teams. Team members worked with Purdue Research Foundation staff, Purdue University faculty, industry leaders, business experts and successful high-tech entrepreneurs.

The 10 teams will present two-minute elevator pitches to mentors, business leaders and judges from 7:30 a.m. to 12:30 p.m. in Room C-27 of Hillenbrand Hall when the program concludes.

Following the elevator pitches, an awards luncheon will be held from 1 to 2:30 p.m. in the Purdue Memorial Union South Ballroom, where the top three teams will be recognized. The David E. Ross Award of Entrepreneurial Distinction for a team that distinguishes itself also will be awarded during the program.

Judging criteria includes the concept of the business, the presentation to potential investors, market knowledge, awareness of the competition and the financial plan. Awards are college tuition vouchers to help students pursue a degree in higher education and develop their entrepreneurial skills. The tuition vouchers will be $500, $250 and $150 for first, second and third place, respectively, and a $500 voucher for the David E. Ross award.

Della Jules, president of Jinsitec LLC, is the keynote speaker at the luncheon. Jinsitic is a Purdue Research Park affiliate company based in Indianapolis.

High school students attending this year's week-long academy hail from Bartholomew, Benton, Boone, Cass, Clinton, Greene, Hamilton, Hendricks, Howard, Jay, Jefferson, Johnson, Lake, Lawrence, Marion, Marshall, Porter, Putnam, Ripley, Tippecanoe, Vermillion, Wabash and White counties.

Over the course of the week, students toured Bindley Bioscience Center, Birck Nanotechnology Center and the Burton D. Morgan Center for Entrepreneurship in Purdue University’s Discovery Park and visited Cook Biotech, EDS and ICx Griffin at Purdue Research Park. They also met with executives including Wendy Kennedy, a Canadian author, experienced technology industry executive and author of "So What? Who Cares? Why You?"®. Her international entrepreneurial workshop program is used throughout the Purdue Research Foundation Entrepreneurship Academy.

Team members also met with Chad Barden, CEO of Quadraspec, a Purdue Research Park-based company; Susan B. Davis, regional director of the Greater Lafayette Small Business Development Center; Rita Baker, coordinating academic advisor of Purdue University’s Certificate in Entrepreneurship and Innovation; and Alan H. Rebar, senior associate vice president for research and executive director of Discovery Park.

Sponsors of the 2008 Entrepreneurship Academy include Indiana’s WIRED (Workforce Innovation in Regional Economic Development) program, Purdue University, EDS University Centers Program, Purdue Employees Federal Credit Union, Discovery Park, CSO Architects, Wendy Kennedy, Lafayette Printing, Custom Forms, Quadraspec, COOK Biotech, IEDC (Indiana Economic Development Corporation), Alley Flowers Inc., Bernardin Lochmueller & Associates Inc., Taft Stettinius & Hollister LLP,  Stewart & Branigan LLP and Purdue Research Foundation.

The top three teams at last year's inaugural Entrepreneurship Academy were Tri Fusion Technology, mentored by Sue Grimes, commercialization manager for the Purdue Research Foundation Office of Technology Commercialization; Trellis Corp., mentored by Tim Peoples, director of Purdue Technology Centers; and Skin Engineering, mentored by Alyssa Panitch, Purdue University associate professor of biomedical engineering.

About Purdue Research Park

The 725-acre Purdue Research Park (https://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 140 companies. About 90 of these firms are technology-related and another 39 are incubator businesses. The park was ranked No. 1 in 2004 for university- affiliated research parks and received the 2005 Outstanding Commercialization Award, both from the Association of University Research Parks. The park's companies also have received numerous recognitions, including a 2006 MIRA Award: Innovation of the Year for Purdue Research Park/Quadraspec Inc. and a 2005 CoreNet Global Innovators Award finalist. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established or is currently constructing technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.

To the Purdue Research Park, https://www.purdueresearchpark.com

Note to Journalists: The best visual and interviewing opportunities will be during the elevator pitches from 7:30 a.m. to 12:30 p.m., Friday (Aug. 1) in Hillenbrand Hall, Room C-27 and at the awards luncheon  that follows from 1 to 2:30 p.m. in the Purdue Memorial Union South Ballroom. Media are invited to the luncheon, please contact Cynthia Sequin at (765) 404-4192, casequin@prf.org for a reservation.

Purdue Research Park contacts: Cynthia Sequin, (765) 494-4192, (765) 413-6011 (mobile), casequin@prf.org; or Steve Martin, (765) 494-6872, sgmartin@prf.org