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Purdue Innovates
Purdue Innovates is a technology commercialization and intellectual property protection organization. It provides services for invention disclosure, technology...
Purdue Innovates
Purdue Innovates is a technology commercialization and intellectual property protection organization. It provides services for invention disclosure, technology licensing, enterprise creation, and venture capital support. Founded in 2013 in West Lafayette, Indiana, Purdue Innovates has made 12 investments, including a Series B investment in ANELLO Photonics on November 18, 2024.
General information
Firm type
other
Location
Region
North America
Country
United States
City
West Lafayette
Corporate office
West Lafayette, IN, United States
Sector focus
Frequently asked questions
How does Purdue Innovates source its deal flow?
Deal flow originates exclusively from Purdue University's annual research enterprise, which exceeds $600 million in sponsored funding. Faculty, staff, and graduate researchers disclose roughly 400 inventions per year through the Purdue Research Foundation's Office of Technology Commercialization. Purdue Innovates screens these disclosures, secures intellectual property protection, and determines whether to license the technology to an outside firm or form a new startup around the IP.
Does Purdue Innovates invest directly into startups, or is it purely a licensing office?
It does both. The technology commercialization arm handles patenting and licensing, while the startup creation functions provide direct pre-seed and seed capital through vehicles like the Trask Innovation Fund and the Purdue Innovates Incubator. These funds often co-invest alongside external venture capital firms in companies founded on Purdue-owned intellectual property.
What types of companies typically emerge from Purdue Innovates?
The startup portfolio skews heavily toward deep tech, reflecting Purdue's research strengths in engineering and agriculture. Areas include advanced manufacturing, solid-rocket propulsion, precision agriculture, semiconductor materials, AI/ML applications, and life sciences. A notable example is Adranos, which developed next-generation solid rocket fuel and was acquired by defense technology company Anduril Industries in 2023.
Is Purdue Innovates a single entity, or a collection of programs?
It is an umbrella organization that consolidates multiple units under one brand: the Purdue Research Foundation Office of Technology Commercialization, the Purdue Innovates Incubator, and associated venture-development and startup-support programs. This structure is designed to provide a continuous pipeline from invention disclosure through startup formation and initial funding.
How is Purdue Innovates connected to the broader Purdue Research Foundation?
Purdue Innovates operates as a division of the Purdue Research Foundation, a private, nonprofit corporation that manages Purdue University's intellectual property, real estate holdings, and economic development initiatives. The foundation itself accepts and manages gifts, holds title to the university's patents, and oversees the Purdue Research Park network.
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