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International organization names Purdue top award recipient for its invention to commercialization system

Austin, Texas and West Lafayette, Indiana, Nov. 14, 2016 (GLOBE NEWSWIRE) -- The Association of Public and Land-grant Universities named Purdue University as a top winner at its 2016 Innovation and Economic Prosperity Universities Designation and Awards Program during its Nov. 13 annual meeting in Austin, Texas.

The award recognizes association members for demonstrating excellence and leadership in planning, implementing, and evaluating programs and initiatives that support regional economic development. A video from the event can be viewed here. Only three other U.S. universities received top awards at the event. They are Arizona State University, Colorado State University and Montana State University.

“Economic engagement is a central component of public universities’ work,” said APLU President Peter McPherson. “Public institutions are working to advance economic opportunity and drive prosperity in their communities. The IEP Award winners have established themselves as exemplary institutions in this space, and we applaud their important leadership.”

Purdue is recognized for its world-changing research and commercialization activities, which has recorded three consecutive years of record-breaking results in issued patents, technology licenses and startups.

“In the past three years, we have created a number of initiatives in technology transfer and commercialization that many of our Purdue-based innovators and entrepreneurs, not just faculty but often students, are taking advantage of in record numbers,” Purdue President Mitch Daniels said. “In today’s knowledge economy, along with teaching and research, there is no purer form of service to our citizens than to launch new job-creating inventions and new companies into the marketplace.”

From 2014 to 2016, Purdue created 76 startups based on Purdue patented innovations and created more than 160 new positions. Another 48 startups originated from Purdue “know-how” technologies. During that time, the startups generated more than $96 million in venture funding.

“What is especially heartening about receiving this award is that the winners are chosen by our peers,” said Steve Abel, Purdue associate provost for engagement. “It means a lot to be recognized by our colleagues in the public and land-grant universities for the work Purdue is doing in technology transfer, entrepreneurship and business development.”

Purdue also is ranked 15th in the world among universities granted U.S. utility patents and its Office of Technology Commercialization executed over 147 technology licenses in 2015.

"We are proud to accept this prestigious award, and we recognize that this success is the result of hundreds of Purdue researchers and entrepreneurs working together to produce impactful changes for people," said Greg Deason, senior vice president, director of innovation and entrepreneurship for Purdue Research Foundation and founding director of the Purdue Foundry. "That is truly the mission of a land-grant university, to teach, research and outreach to the betterment of our society."

In the past five years, more than 500 disclosures, patents, licenses/options were facilitated through Purdue’s Discovery Park, an interdisciplinary research hub at the university.

“Discovery Park is a more than $1.2 billion research enterprise that manages many large-scale interdisciplinary research activities with a goal of driving innovation to the market,” said Tomás Díaz de la Rubia, executive director of Discovery Park. “The research funding Purdue receives, its facilities and the entrepreneurial ecosystem, further support a long-term pipeline of research and innovation for the future.”

Initiatives established to encourage an environment of entrepreneurship include:

* Purdue Foundry, an entrepreneurial hub that supports faculty, staff and student innovators in all Purdue colleges and departments and actively engages outside businesses and investors to encourage collaborative research and startup development.

* Discovery Park Partners, a facility used by corporations interested in partnering with Purdue on research projects and for faculty, staff and student entrepreneurs who have founded a company and want access to Purdue research facilities.

* The Anvil, a nonprofit entity founded by students that is used for Purdue entrepreneurial co-space.

* Elevate Purdue Foundry Fund, a startup fund established by Purdue Research Foundation and Elevate Ventures that provides support to Purdue-affiliated companies. Since its founding in 2014, the fund has invested $900,000 to 36 startups.

* Deliberate Innovation for Faculty, a program that provides mentoring for Purdue innovators who have an interest in translating their inventions to the public through commercialization, collaboration or entrepreneurship.

* The Artisan and Fabrication Laboratory, a space is designed to provide students at Purdue with hands-on access to a state-of-the-art manufacturing facility.

* Discovery Park’s Burton D. Morgan Center for Entrepreneurship, a facility that fosters and supports entrepreneurship with faculty and students across the Purdue campus.

About Purdue University

Purdue University, a top public research institution, offers higher education at its highest proven value. Committed to affordability, the university has frozen tuition and most fees at 2012-13 levels. Committed to student success, Purdue is changing the student experience with greater focus on faculty-student interaction and creative use of technology. Committed to pursuing scientific discoveries and engineered solutions, Purdue has streamlined pathways for faculty and student innovators who have a vision for moving the world forward.

About the Association of Public and Land-Grant Universities

APLU is a research, policy, and advocacy organization dedicated to strengthening and advancing the work of public universities in the U.S., Canada, and Mexico. With a membership of 236 public research universities, land-grant institutions, state university systems, and affiliated organizations, APLU's agenda is built on the three pillars of increasing degree completion and academic success, advancing scientific research, and expanding engagement. Annually, member campuses enroll 4.8 million undergraduates and 1.3 million graduate students, award 1.2 million degrees, employ 1.2 million faculty and staff, and conduct $43.1 billion in university-based research

Purdue Research Foundation, Cynthia Sequin, 765-588-3340, casequin@prf.org Association of Public and Land-Grant Universities, Jeff Lieberson, 202-478-6073

Source:Purdue Research Foundation