Purdue Foundry

Purdue Foundry, based in West Lafayette, Indiana, serves as a crucial hub within Purdue University's robust entrepreneurial ecosystem, specifically designed to foster the creation and growth of new ventures. Its primary mission is to commercialize Purdue intellectual property and support startups founded by the university's faculty, staff, students, and alumni. The Foundry provides a comprehensive suite of resources, including mentorship, business development assistance, and access to capital, aiming to transform innovative research into viable commercial enterprises.

A key component of Purdue Foundry's financial support mechanism is the Foundry Investment Fund (FIF). This dedicated fund, capitalized at $12 million, is specifically designed to provide critical early-stage capital to Purdue-affiliated startups. The FIF targets companies with a strong connection to the university, whether through their founders or by licensing Purdue's proprietary technologies. This strategic focus ensures that the fund directly contributes to the university's mission of economic development and technology transfer.

The Foundry Investment Fund typically deploys initial investments ranging from $50,000 to $250,000. These investments are often structured to provide essential seed capital, enabling startups to achieve key milestones, develop prototypes, and secure initial customers. Beyond direct financial contributions, Purdue Foundry offers extensive non-monetary support, including access to a network of experienced mentors, legal and financial advisory services, and connections to follow-on investors. This holistic approach aims to significantly increase the success rate of university-born ventures, bridging the gap between academic innovation and market readiness.