Purdue University is known for its thriving startup and Venture Capitalist (VC) ecosystem. This is largely attributable to the Purdue Foundry, an entrepreneurship and commercialization accelerator in Discovery Park's Burton D. Morgan Center for Entrepreneurship. The Purdue Foundry aims to help Purdue students, faculty, and local alumni move ideas to the marketplace more quickly. It provides a range of services, from idea development and market research, to business plan creation, and funding.
One of the University’s most successful startups is Endocyte, a pharmaceutical company specializing in the development of targeted therapies for the treatment of cancer and inflammatory diseases. Endocyte was founded by Purdue Professor Philip Low, and was acquired by Novartis in 2018 for $2.1 billion.
Another significant success story is that of Scott Dorsey, a Purdue graduate who co-founded ExactTarget, a provider of digital marketing automation and analytics software. ExactTarget was acquired by Salesforce in 2013 for $2.5 billion.
Further highlighting Purdue's strong entrepreneurial culture is the Anvil, the largest student-run entrepreneurial organization in the United States. The Anvil provides resources such as workspace, networking events, and mentorship to student startups.
A unique initiative at Purdue University is the Deliberate Innovation for Faculty (DIFF), which encourages faculty members to consider the commercial possibilities of their research. This program has successfully fostered a culture of innovation across the various departments at the university.
The University also has a robust VC scene with Purdue Ventures, a $12 million fund dedicated to supporting investment-worthy, high-growth companies that are based on Purdue technology or expertise in the STEM areas.
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