WEST LAFAYETTE, Ind. (WLFI) – Twenty-four startup companies have helped the Purdue Research Foundation and Purdue Foundry report record breaking numbers.
Last year, startup companies drew more than $20 million in public funding. The rise in startup companies is largely due to the creation of the Purdue Foundry.
Pu Wang was one of its first clients. Through the Foundry’s help, Wang founded Vibronix, which is developing more precise ways to predict heart attacks.
Wang said Purdue Foundry is the one that encouraged him to pursue commercialization.
“They not told us what to do, they did this with us and helped us to find the connections, help us find the patterns and led us through every detail,” said Wang.
The foundry was established last summer to encourage more people to explore new business.
When the foundry was established last summer, executive director Greg Deason said the initial goal was to bring in 12 new startups.
Deason said they want people with big ideas to explore the possibilities of new business.
“We just are trying to make it so much easier. You know where to go to get help. You know where to stop in to get help. We’ve brought together a lot of resources around that just to make that process clear, straight-forward and simple,” said Deason. “If we had thought about it from the standpoint of all the people that would get involved, maybe we would have though that it would have been this great. But even this is a huge celebration, because we really improved upon where we’ve been in the past. We think this is sustainable for the future.”
Of the 24 new startups, 15 came from the West Lafayette campus.