Since Purdue University created Purdue Innovates in 2023, the system has worked to streamline access and strengthen support for technology commercialization and startup support resources. The goal of providing top-tier resources for entrepreneurial activities in Indiana is paying off.
This year, Purdue once again reached new entrepreneurial milestones, shattering the records set just last year according to a summary report presented to the university’s Board of Trustees by President Mung Chiang.
Under the banner of Purdue Innovates, the Office of Technology Commercialization (OTC) operates one of the most comprehensive and active technology transfer programs among leading research universities in the US. And among the most notable statistics, OTC reported the following in fiscal 2024:
— IP disclosures surged nearly 17% to 466 from 400.
— Patents issued for Boilermaker innovations increased by 11% to 290.
— Patent licenses skyrocketed by 49% to 224.
By turning knowledge into impact at scale, Purdue University researchers are ranked number 4 among all U.S. universities and number 5 among all international universities in U.S. patents received in 2023. And its 201 patents for the calendar year ranked first both in Indiana and the Big Ten Conference. Purdue has ranked in the top five in the U.S. for three years running.
Purdue Innovates’ entrepreneurial ecosystem helped establish 16 companies based on Purdue research – which includes companies like Aerovy, an advanced air mobility software provider that completed an $800,000 pre-seed funding round, and Emboa Medical – which won first place and $10,000 in the Purdue Innovates Incubator New Venture Challenge for developing a novel blood clot extraction device to improve patient outcomes after strokes.
KEY QUOTE:
“The excellence at scale of Purdue inventions is yet again reflected in the metrics I shared for fiscal year 2024. Boilermakers continue to translate fundamental research breakthroughs to societal impact, changing the world with their innovations. Supported by Purdue Innovates, I expect the support for Boilermaker inventors and entrepreneurs in years to come will intensify — and records will continue to be broken.”
– Mung Chiang
