IBJNews

Purdue hopes center simplifies commercialization

Back to TopCommentsE-mailPrintBookmark and Share

Like all universities, Purdue University wants to derive more revenue from the research of its professors. But the West Lafayette school’s leaders think the process of matching its professors with people who can help create commercial products is too cumbersome.

So last week Purdue announced a new Innovation and Commercialization Center, which is supposed to be a one-stop shop for professors to get help developing their research into products and for outside investors to find out what research is taking place inside Purdue.

In addition, the center will have a small pool of money to make selective seed grants of about $50,000 per year to help professors test concepts, develop prototypes, find external development partners or get help doing market research.

Purdue President France Cordova said Purdue Research Foundation already has been doing many of these activities, but she thought the communication about and access to those services could be improved.

“All the different efforts that we have scattered,” she said, “you have to work awfully hard to find out that it’s there.”

Cordova even wants students to bring their ideas to the center and try to commercialize them.

The new center will operate as a subsidiary of the Purdue Research Foundation and be located in Purdue’s Burton D. Morgan Center for Entrepreneurship. It will operate during its first year with $1 million in alumni funds, and likely will ramp up to operations and investing funds of $2.5 million per year, Cordova said. She stressed that the center will receive no state funding.

The center will be run initially by Gerry McCartney, Purdue’s chief information officer. The center’s investment work likely will focus on information technology, at least at first, Cordova said, but it’s purpose is to help researchers in all areas so that Purdue has a culture that encourages professors to work on commercialization—not just on getting their research articles published in academic journals.

“Not to be forgotten is the whole cultural signal that this launches, that we care about the D as much as the R,” said Cordova, referring to research and development, which is commonly abbreviated R&D. She added, “Yes you can get promotion and tenure and you can be recognized as having an impact by focusing on the D part.”

Cordova said the Innovation and Commercialization Center would operate similarly to Purdue’s Alfred Mann Institute for Biomedical Engineering. Since being established in 2007, the Mann Institute has searched out innovative work among Purdue faculty, selectively doling out seed grants.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.

ADVERTISEMENT