Foundation fund

Eight Purdue researchers awarded $470,000 to boost market appeal of their work

Trask Innovation Fund, Proof of Concept Fund fund projects to improve food packaging, antibacterial therapies, machine learning and battery technology

WEST LAFAYETTE, Ind. – Creating breakthrough inventions to improve lives takes more than an idea: it takes research and development, which involves funding. Two funds from Purdue University help researchers take these R&D steps.

Eight Purdue University researchers have received more than $470,000 from the Trask Innovation Fund and the Proof of Concept Fund to make their work more attractive for commercial use. Both funds are managed by the Purdue Research Foundation Office of Technology Commercialization.

“Researchers face a gap between creating their technology and advancing it to the point where it’s ready to be licensed and brought to market. Researchers need funding to fill this ‘valley of death,'” said Brooke Beier, senior vice president of commercialization at the Purdue Research Foundation. “PRF recognizes the importance of funding in translating research into viable products for startups and industry. These programs are two examples that are helping Purdue technologies move toward commercialization. »

The proof of concept fund was created in 2021; this is its first round of funding. It invests up to $100,000 in select Purdue technologies for commercialization-focused research or related projects. Industry leaders are involved in the selection, design and oversight of funded projects.

“This commitment from industry professionals reflects the Proof of Concept Fund’s goal of funding work that will significantly improve the likelihood that a start-up company will be investable or that a license with an existing business will be executed,” said Abhijit KarveDirector of Business Development for the Office of Technology Commercialization.

The recipients of the Proof of Concept fund, their college, the title of the project and the total amount of the grant are:

The Trask Innovation Fund awards up to $50,000 to support short-term projects that enhance the business value of Purdue intellectual property. The beneficiaries of the Trask Innovation Fund, their project and the amount of the prize are:

These and other inventions created by Purdue researchers across all academic disciplines and campuses are available for further development and licensing. Contact [email protected] for more information.

The application deadline for the next round of Trask Innovation Fund price is September 23.

About the Purdue Research Foundation Office of Technology Commercialization

Purdue Research Foundation Technology Commercialization Office operates one of the most comprehensive technology transfer programs among leading research universities in the United States. The services provided by this office support Purdue University’s economic development initiatives and benefit the university’s academic activities by marketing, licensing, and protecting Purdue’s intellectual property. The office recently moved into the Convergence Center for Innovation and Collaboration in the Discovery Park District, adjacent to the Purdue campus. In fiscal year 2020, the office reported 148 agreements finalized with 225 technologies signed, 408 disclosures received, and 180 U.S. patents granted. The office is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. In 2020, IPWatchdog Institute ranked Purdue third nationally for startup creation and in the top 20 for patents. The Purdue Research Foundation is a private, nonprofit foundation established to advance the mission of Purdue University. Contact [email protected] for more information.

About Purdue University

Purdue University is a leading public research institution that develops practical solutions to today’s toughest challenges. Ranked in each of the past four years as one of the 10 most innovative universities in the United States by US News & World Report, Purdue delivers groundbreaking research and groundbreaking discoveries. Committed to hands-on, online, real-world learning, Purdue provides transformative education for all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, allowing more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap to https://stories.purdue.edu.

Writer: Steve Martin, [email protected]

Source: Abhijit Karve, [email protected]