Purdue Ranked 3rd Nationally in Startup Creation Over 200 Universities and Research Entities
Convergence is home to the Purdue Foundry and Purdue Research Foundation Office of Technology Commercialization, organizations that help Purdue turn technologies into products with impact and get startups launched.
A report covering an 11-year period of technology commercialization activities lists Purdue University as third in the U.S. for startup creation. Purdue also is in the top 20 for patents issued compared with legal expenditures and for the most invention disclosure forms when compared with published research.
The report, compiled and reported by the respected IPWatchdog Institute, covers data collected by AUTM over the period of 2008-18. The information is reported annually by members to AUTM, a nonprofit organization that collects technology transfer data, among other things, from more than 800 universities, research centers, hospitals and government organizations around the globe. IPWatchdog excluded the University of Texas System and the University of California System from its study because those schools report startup data that includes the state’s collective results and not individual university results.
“What this means is that Purdue is being extremely efficient in its patent-filing strategy and that when faculty scientists publish peer-reviewed articles, their research is highly likely to be disclosed, patented and become a product to help people.”
The IPWatchdog report also recognized Purdue for its leadership and support for startups and for its societal impact through biotechnology innovations and economic development.
In 2013, the Purdue Research Foundation created the Purdue Foundry, an entrepreneurship and commercialization hub whose professionals have helped nearly 300 startups that generated around $400 million in funding and investments generated and more than 350 new jobs.
“We are doing something that matters. Not just for Purdue but for all universities that strive to turn technologies into products with impact.”“In startup creation we are converting life-changing technologies to the market that create new jobs, new opportunities and new ways to positively impact our global society.”
Purdue also is recognized in the report for the number of startups that have been acquired by larger companies. Ten Purdue startups have been acquired by major national or international companies.
In other rankings, Purdue was 12th in the world among universities granted U.S. utility patents in 2018, in the annual rankings put out by the National Academy of Inventors and the Intellectual Property Owners Association.
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