Startups that have licensed innovations developed at Purdue University or are based in the four-site Purdue Research Park network are eligible to apply for a round of funding from the Emerging Innovations Fund. The cumulative funding of all awards will total up to $150,000.
The deadline to apply for funding is Aug. 31. Applications may be submitted to Jonathan D. Gortat, jdgortat@prf.org, project manager at the Purdue Office of Technology Commercialization, in a Microsoft Word or PDF format. Due diligence will be conducted through Dec. 14, with awards determined later that month. Once a project is reviewed and recommended, investments may be tranched in accordance with milestone events.
Applications must include the following:
* Full business plan, complete with a financial plan, marketing strategies and an executive summary.
* Company contact information, including management team names and titles, previous investors, IP status, number of employees, and the amount of capital sought.
* Planned use of the requested investment, including specific product development events to be accomplished.
Applications also must include 250-word descriptions of the following: one-line pitch; business summary; management team qualifications; customers' problem; company's solution; market definition; list of current and potential customers; sales and marketing strategy; business model; competitive landscape, including a list of competitors; and competitive advantages and a list of barriers to entry.
Application assistance is provided through the Purdue Office of Technology Commercialization. Questions should be directed to Gortat at 765-588-3485, jdgortat@prf.org, or visit http://otc-prf.org/emerging-innovations-fund
Previous funding from the Emerging Innovations Fund was awarded to Bioscience Vaccines, Matrix-Bio, Medtric Biotech, Microfluidic Innovations, Spensa Technologies and Tymora Analytical Operations.
The Emerging Innovations Fund was established in 2008 by the Purdue Research Foundation and Purdue University to expedite the process of moving research discoveries to commercial delivery. Funds distributed through the Emerging Innovations Fund are made on a competitive basis. The fund is designed to be self-sustaining by making investments as a loan with equity participation.