02/02/2012
Purdue launches commercialization center to accelerate discovery to delivery
Purdue University plans to build a a new research commercialization center that will move Purdue discoveries to the marketplace more quickly, increase revenue for the university, and spur economic development, according to an announcement on the university’s Website.
Purdue University President France A Córdova made the announcement about the Innovation and Commercialization Center.
"The Innovation and Commercialization Center will step up the value of carefully selected Purdue-owned intellectual property, allowing us to spin it out of the university in a way that directly benefits both Purdue and the economy of Indiana," he said in the announcement.
The center will serve as a "one-stop shop" for faculty and staff inventors and offer seed grants and other funding for testing concepts, developing prototypes or participating in joint technology development projects with external partners. First-year activities will be supported by $1 million in gift funds donated by alumni entrepreneurs. No general funds from state appropriations or tuition will be used.