Areas of Concentration
Enhancing Indiana’s New Economy
Purdue Research Foundation (PRF) plays an instrumental role in furthering Purdue University’s economic development agenda by building and operating state-of-the-art technology business incubators. From these technology communities emerge companies that have the ability to bring in out-of-state revenue, pay good salaries, and hire the best and bright minds graduating from Indiana’s premiere universities.
Near the university’s main campus, PRF’s flagship incubator, Purdue Research Park, is the landing pad for businesses built around new ideas emerging from Discovery Park – Purdue’s ambitious on-campus endeavor to bring innovation through multidisciplinary action. PRF is bringing the university’s business-building programs and services to other parts of Indiana through its two satellite incubators (in Merrillville and Indianapolis), and on the road to potential investors and entrepreneurs through its Technology Roadshows.
Commercializing Technology
PRF’s Office of Technology Commercialization (OTC) operates one of the most comprehensive technology transfer programs among leading research universities in the United States. Purdue’s intellectual property is an asset OTC strives hard to protect, market and license.
OTC works hand-in-hand with Purdue faculty-, staff- and student-entrepreneurs to provide the resources needed to better understand Purdue policies related to intellectual property and the processes whereby this intellectual property can become an actual product or service.
Once commercially viable Purdue technologies are identified, the OTC team assists inventors by protecting discoveries. These technologies can then be marketed and licensed to appropriate industry partners or to startups that are built around the innovations through an award-winning Businessmaker Process™ developed by PRF’s Office of Business Development.
Acquiring Property
Anticipating where Purdue University expansion will occur, PRF purchases parcels of available land ahead of time, and this foresight in acquiring real estate has saved the university millions of dollars. PRF owns and oversees the following: more than 130 properties, including approximately 10,000 acres of Indiana farmland, and many rental properties leased through its PRF Residential division; Purdue West, a student shopping center along the west edge of the campus; Purdue Research Park, which was founded as the Purdue Industrial Research Park in 1961; and the Purdue Technology Center of Northwest Indiana, a satellite technology business incubator located in Merrillville, Ind., near Purdue University-Calumet.
In addition, PRF holds many of the mortgages on fraternities and sororities; helps Purdue open laboratories and parking garages; and provides interim support during contract negotiations for Purdue’s extramurally funded projects.
Funding Research
Various funds have been left in trust with PRF to support the activities of Purdue University’s Division of Research and Scholarly Activities.
Following recommendations from the deans of each Purdue school or college, funds are awarded through a set of annual grant competitions coordinated by
Sponsored Program Services, which is a university division that submits proposals and negotiates contracts for externally sponsored projects, administers sponsor awards, provides management data on sponsored projects, and provides research communication services. The following grants are awarded annually:
Faculty Research Grants;
Summer Faculty Grants;
International Travel Grants; Special Incentive Research Grants; and grants for the Doctoral Fellowship Program and for the Equipment Matching Fund.
