Home > Bridging the gap, Business models, Collaboration, Economic Development, Incubator, Industry, Innovation Clusters, Research Park, Startup, University > Purdue Restructures Processes and Incentives for Research Commercialization to Boost Economic Development

Purdue Restructures Processes and Incentives for Research Commercialization to Boost Economic Development

A key element is restructuring the processes and incentives for research commercialization with the additional benefit of boosting economic development in Indiana through the creation of new businesses and products.

From Purdue News:

“A new emphasis on extracting more economic value from sponsored research and intellectual property at Purdue University will help move more Purdue research to the marketplace faster and reduce the university’s reliance on tuition and tax dollars.

Purdue President France A. Córdova announced Wednesday (Sept. 28) a three–part Decadal Funding Plan that will increase sources of revenue beyond tuition and state appropriations – the traditional sources for public university funding – by doubling financial capacity through continued cost-cutting, expanding online degree and professional education offerings, encouraging more robust use of campus facilities through summer teaching, and ramping up research commercialization.

A key element is restructuring the processes and incentives for research commercialization with the additional benefit of boosting economic development in Indiana through the creation of new businesses and products. The effort also invests in more entrepreneurial education and support for faculty, students and businesses.

“We intend to leverage our most valuable resources, a first-class faculty and an amazing group of students, to materially improve our performance in creating and supporting entrepreneurs, commercialization of new science and technology, and industry-university collaborations,” Córdova said…”

READ FULL ARTICLE [web]
Purdue Research Park [web]
Discovery Park at Purdue University [web]
Purdue/Industry Partnerships Newsletter [web, pdf]

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