Dayton, Ohio, March 28, 2016 (GLOBE NEWSWIRE) -- The U.S. Air Force Research Laboratory (AFRL) at Wright-Patterson Air Force Base (USAF/AFMC) and Purdue Research Foundation have signed a partnership intermediary agreement to accelerate the commercialization process and support activities to move innovations to the public.
"We already have a robust research and development program, but the agreement with Purdue will enable us to capitalize on the successful proven approaches used by Purdue to efficiently and effectively commercialize advanced technology products at an even faster rate," Bill Harrison, director of the AFRL Small Business office. "In addition, we will be able to tap into Purdue's established entrepreneurial activities including educational and mentoring opportunities and its entrepreneurs-in-residence program."
The Air Force Research Laboratory is a global technical research enterprise employing and working with some of the world's most renowned research leaders. The laboratory's successful innovations include game-changing technologies such as hypersonics, directed-energy weapons, and autonomy. The Air Force Research Laboratory manages an impressive science and technology program comprised of $2.1 billion of internal funding and an additional $2.3 billion of external funds.
With two consecutive years of record-breaking commercialization activities, the Purdue Office of Technology Commercialization and the Purdue Foundry have a proven track record of successfully moving innovations to the public. The Purdue Startup Classes of 2014 and 2015 include 49 startups based on Purdue University intellectual property that have received more than $96 million in venture funding. Another 39 startups have originated from non-patented Purdue know-how.
"The goals of this agreement include implementing our established technology translation processes and to expand the commercialization channels for Purdue and the Air Force Research Laboratory," said Chad Pittman, vice president of the Purdue Office of Technology Commercialization. "Because we share so many similar disciplines and industries, the successful marketing and commercialization methods we utilize will fit well with the innovations and technologies that the Air Force Research Laboratory has developed and patented. We are excited to begin this endeavor with the Air Force."
The Purdue Office of Technology Commercialization signed a similar agreement with NSWC-Crane Division in 2014 that showcases both organizations' intellectual property with a goal to expedite and support the move of innovations to the public. The agreement has already resulted in a few successful licensing agreements.
Like the NWSC-Crane agreement, U.S. Air Force Research Laboratory and Purdue will retain independent ownership of their relative intellectual property, but USAF intellectual property will be marketed alongside Purdue's innovations through the Purdue Office of Technology Commercialization, which is managed by the Purdue Research Foundation.
Purdue uses a number of marketing tools to promote its innovations including FlintBox, an online tool to promote innovations; a Web page of available technologies; a monthly e-newsletter with more than 100,000 subscribers; and an Innovation and Entrepreneurship landing page of resources for investors, entrepreneurs, researchers and potential collaborators.
In addition to NSWC-Crane, the Purdue Office of Technology Commercialization previously signed technology transfer partnerships with,WestGate Technology Park, Battery Innovation Center, Indiana Office of Defense Development, Radius Indiana and the University of Southern Indiana SwiSTEM Resource Center.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at firstname.lastname@example.org
About U.S. Air Force Research Laboratory
The Air Force Research Laboratory is a global technical enterprise with some of the best and brightest leaders in the world whose mission is to lead the discovery, development, and integration of affordable warfighting technologies for its air, space, and cyberspace force.
Source:Purdue Research Foundation