Purdue Foundry
Purdue Foundry (Purdue Innovates) is the technology commercialization and startup incubation arm of Purdue University. It licenses Purdue IP, runs founder programs, and deploys venture capital to convert university research into commercial ventures for industry, faculty, students, and alumni.
- Company typePrivate
- Founded2013
- HeadquartersWest Lafayette, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Purdue Foundry does
Purdue Foundry (operating as Purdue Innovates) is the technology commercialization and startup incubation arm of Purdue University, managed by the Purdue Research Foundation, a private nonprofit. Its core function is to convert Purdue research output into commercial outcomes through three integrated divisions: the Office of Technology Commercialization (OTC) handles invention disclosure, patent prosecution, and licensing of Purdue IP; the Incubator runs a portfolio of stage-gated founder programs including Firestarter (pre-idea), Market Readiness, New Venture Challenge, Moonshot Pitch Challenge, Summer Sprint, and the equity-backed Accelerator; and Purdue Innovates Ventures deploys capital into Purdue-affiliated startups. Supporting instruments include the Trask Innovation Fund for proof-of-concept grants, the Commercialization Fellowship for postdoctoral researchers, and Capstone Plus / Fusion Point for industry-sponsored student projects.
The platform processes invention disclosures at scale (479 in FY25), files hundreds of patent applications annually (863 in FY25), maintains a portfolio of 1,000+ licensable technologies spanning 17 sectors from aerospace to AI/ML, and executes licensing agreements with global industry partners. FY25 OTC gross revenue reached $14.57M with $12.79M in AUTM-defined royalty income. Purdue was ranked #7 globally and #4 in the U.S. for utility patents in 2024 and has placed in the U.S. top 10 for six consecutive years.
Revenue mechanics are diversified across licensing royalties (upfront fees, maintenance fees, royalties), equity stakes via SAFE agreements in Accelerator portfolio companies (up to $100k each), federal grant cost reimbursement ($1.78M in FY25), and Trask Fund disbursements (recycled from licensing revenues, ~$3M cumulative since 2013). Most founder-facing programs are free; monetization occurs at the licensing and venture stages. Distribution is hybrid: community-led for Purdue-affiliated founders, enterprise field sales for industry licensing, and event-driven through monthly mixers, pitch competitions, and the new Third Coast Foundry SF hub co-founded with seven peer Midwestern universities to access Bay Area venture capital.
Purdue Foundry firmographics
Firmographics- Name
- Purdue Foundry
- Legal name
- Purdue Research Foundation
- Website
- https://purdueinnovates.org
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Purdue Foundry (Purdue Innovates) is the technology commercialization and startup incubation arm of Purdue University. It licenses Purdue IP, runs founder programs, and deploys venture capital to convert university research into commercial ventures for industry, faculty, students, and alumni.
- Ownership category
- akta.pro rank
Purdue Foundry industry classification
Industry- Product category
- Technology Transfer Services
- NAICS
- Management, Scientific, and Technical Consulting Services (5416), Management Consulting Services (54161)
- SIC
- Patent Owners & Lessors (6794), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Technology Transfer & Innovation-Driven Research Universities (High Commercialization) (EDAHABAH)
- akta.pro secondary industries
- Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH), Technical Universities with Strong Industry Partnerships (EDAHAEAG), Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC)
Keywords
Where Purdue Foundry is headquartered
LocationHeadquarters
- HQ city
- West Lafayette
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Purdue Foundry business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Technology Licensing: Revenue from licensing Purdue intellectual property including patents, copyrights, and tangible research property. Includes option agreements, commercial evaluation licenses, license agreements, and express startup licenses. Payments include upfront fees, maintenance fees, and royalty payments based on commercialization outcomes.
- Startup Equity: Investment in startups through the Accelerator program in exchange for equity. Provides up to $100k investment via SAFE agreement. Equity stakes in Purdue-connected startups formed to commercialize university IP.
- Federal Grant Reimbursement: Reimbursement of costs and investments from various sources including federal research grants. FY25 cost reimbursement was $1.78M.
- Trask Innovation Fund: Proof-of-concept funding supporting short-term projects to enhance commercial value of Purdue IP. Funded by recovered licensing revenues. Awardees may re-apply up to 3 times per technology, with aggregate cap of $100,000.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free seven-week cohort-based program for founders |
| Subscription | Multi-year contract | Accelerator investment in exchange for equity |
| Other | Pay-as-you-go | Student startup competition with prize money |
| Other | Pay-as-you-go | Ideation pitch competition for students |
| Other | Pay-as-you-go | Proof-of-concept funding for Purdue researchers |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Purdue Foundry product offering
Product offeringCore offering
Purdue Foundry, operating as part of Purdue Innovates within the Purdue Research Foundation, runs the Office of Technology Commercialization (OTC) which manages invention disclosures, patent prosecution, and licensing of Purdue University intellectual property, and an Incubator that delivers a portfolio of cohort-based startup programs (Firestarter, Market Readiness, New Venture Challenge, Moonshot Pitch Challenge, Accelerator, Summer Sprint). It also deploys proof-of-concept grants via the Trask Innovation Fund, invests equity through Purdue Innovates Ventures, and operates industry-academia engagement programs (Capstone Plus and Fusion Point).
Product overview
Purdue Innovates is a streamlined system providing innovators support and resources for technology commercialization, intellectual property protection and licensing, enterprise creation, and venture capital. The organization operates through three main divisions: the Office of Technology Commercialization (OTC) handles IP protection and licensing; the Incubator provides a portfolio of programs supporting startup founders at every stage from ideation to growth (Firestarter, Market Readiness, New Venture Challenge, Moonshot Pitch Challenge, Accelerator, Summer Sprint); and Ventures provides funding and investment. Supporting services include the Trask Innovation Fund for proof-of-concept funding, Capstone Plus and Fusion Point for industry-academia collaboration, and the Commercialization Fellowship for PhD researchers. Together, these products form a comprehensive ecosystem connecting Purdue innovations to commercial markets through licensing, startup formation, and investment.
Differentiator
Problem solved
Functional benefit
Brands
- Office of Technology Commercialization (OTC): A division of Purdue Research Foundation that handles technology transfer, IP protection, and licensing of Purdue innovations. Operates one of the most comprehensive technology transfer programs among leading research universities in the U.S.
- Purdue Innovates Incubator
- Purdue Innovates Ventures
- Trask Innovation Fund
- Commercialization Fellowship
- Third Coast Foundry
- Capstone Plus
- Fusion Point
Quantifiable outcome
- 213 patents received in 2024, ranking 7th globally among universities
- +3 more outcomes
Companies that use Purdue Foundry
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Purdue Foundry technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Purdue Foundry partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- Third Coast Foundry Consortium (8 Midwestern Universities)coreThird Coast Foundry is a new San Francisco-based hub launched by 8 Midwestern universities to connect their startups with Bay Area venture capital. The two-year pilot program provides workspace in SF's South Park neighborhood where university founders can meet investors, host showcases, and build relationships with Bay Area partners. Purdue is partnered with Carnegie Mellon, Northwestern, Ohio State, UIUC, UW-Madison, Washington University in St. Louis, and University of Chicago.
- Carnegie Mellon UniversitycorePartner university in Third Coast Foundry consortium
- Northwestern UniversitycorePartner university in Third Coast Foundry consortium
- Ohio State UniversitycorePartner university in Third Coast Foundry consortium
- University of Illinois Urbana-ChampaigncorePartner university in Third Coast Foundry consortium
- University of Wisconsin-MadisoncorePartner university in Third Coast Foundry consortium
- Washington University in St. LouiscorePartner university in Third Coast Foundry consortium
- University of ChicagocorePartner university in Third Coast Foundry consortium
- Purdue PolytechniccorePurdue Polytechnic partners with industry through Capstone Plus and Fusion Point programs to provide access to qualified student talent and cutting-edge research
- Purdue NorthwestcorePurdue Northwest collaborates on industry partnerships and student projects through Capstone Plus and Fusion Point programs
- Vibe RoboticsminorPurdue-connected startup in 2026 Accelerator cohort, founded by four Purdue students building affordable humanoid robots for education and research
- Second OpinionminorPurdue-connected startup in 2026 Accelerator cohort using multi-AI model for document review; COO is Purdue alumnus
- ResolvrminorPurdue-connected startup in 2026 Accelerator cohort building digital asset infrastructure for insurance; co-founder holds Purdue degree
- FiberXminorPurdue-connected startup licensing and co-developing biorefinery technology with Purdue Chemical Engineering faculty
- EvoLink SystemsminorPurdue-connected startup in 2026 Accelerator cohort building modular digital infrastructure; co-founder is Purdue graduate
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
Purdue Foundry competitors and assessment
Company assessmentDirect peers
- Stanford Office of Technology Licensing (OTL): Stanford's technology transfer office is the benchmark U.S. university TLO, licensing Stanford IP, supporting faculty startups, and generating royalty income at the top of the AUTM rankings — directly comparable to Purdue's OTC in mission, operating model, and customer base (corporate licensees, faculty inventors, and startup founders).
- MIT Technology Licensing Office: MIT's TLO performs the same end-to-end tech transfer function as Purdue's OTC — invention disclosure review, patent prosecution, licensing, and startup formation — and is consistently ranked among the top U.S. university TLOs by patents and licensing revenue, making it a direct structural and competitive peer.
- Wisconsin Alumni Research Foundation (WARF): WARF is the nonprofit tech transfer and venture arm for UW-Madieu son — a Third Coast Foundry co-partner of Purdue — and operates the same university-affiliated patent licensing and startup investment model. WARF's long history (since 1925) and venture activity make it a highly comparable peer.
- Columbia Technology Ventures: Columbia University's tech transfer office handles invention disclosures, patenting, and licensing for Columbia research — operating an essentially identical model to Purdue's OTC and serving the same customer base of corporate licensees, faculty inventors, and startup founders.
- University of Michigan Innovation Partnerships: U-M's tech transfer office is one of the largest U.S. university TLOs by disclosure volume and licensing activity, and a peer R1 public university comparable to Purdue in research scale, mission, and commercialization model.
- University of Illinois Urbana-Champaign Office of Technology Management: UIUC's OTM is a Third Coast Foundry co-partner with Purdue and operates an analogous tech transfer and startup support platform serving a top-tier Midwestern public research university, making it a highly comparable direct peer.
- OSU Technology Commercialization Office: Ohio State University's Technology Commercialization Office is a Third Coast Foundry co-partner of Purdue and operates the same university tech transfer and startup support model for a comparable large public R1 research university in the Midwest.
Emerging players
- Techstars: Techstars is a global accelerator network offering cohort-based programs, mentor networks, and seed investment in exchange for equity — directly comparable to the Purdue Innovates Accelerator in format and target customer (early-stage founders), though operating at for-profit scale across geographies.
Broad incumbents
- Y Combinator: Y Combinator is the largest and most established startup accelerator globally, offering standardized cohort-based programming and seed investment in exchange for equity. Comparable to the Purdue Innovates Accelerator in operating model, though with a far broader, non-university-tied deal funnel.
- National Science Foundation I-Corps: NSF I-Corps is a federally funded entrepreneurship training and customer discovery program for academic researchers — comparable to Purdue's Firestarter and Market Readiness programs in targeting faculty/student inventors and providing structured commercialization curriculum, though operating at national scale across all U.S. universities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Purdue Foundry social profiles
Digital presencePurdue Foundry financial estimates
Financial estimateRevenue estimate
Valuation estimate
Purdue Foundry leadership team
Management profileNumber of profiles
Profiles18 records
Purdue Foundry subsidiaries and ownership
Company hierarchySubsidiaries5 records
Purdue Foundry funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Purdue Foundry M&A and investment
M&A and investmentM&A
Investments35 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Purdue Foundry
What does Purdue Foundry do?
Purdue Foundry, operating as part of Purdue Innovates within the Purdue Research Foundation, runs the Office of Technology Commercialization (OTC) which manages invention disclosures, patent prosecution, and licensing of Purdue University intellectual property, and an Incubator that delivers a portfolio of cohort-based startup programs (Firestarter, Market Readiness, New Venture Challenge, Moonshot Pitch Challenge, Accelerator, Summer Sprint). It also deploys proof-of-concept grants via the Trask Innovation Fund, invests equity through Purdue Innovates Ventures, and operates industry-academia engagement programs (Capstone Plus and Fusion Point).
Is Purdue Foundry a public or private company?
Purdue Foundry is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Purdue Foundry founded?
Purdue Foundry was founded in 2013. It employs 51 to 100 people.
Where is Purdue Foundry based?
Purdue Foundry is headquartered in West Lafayette, United States, in the North America region.
How does Purdue Foundry make money?
Four revenue lines are on record. Technology Licensing is the primary driver. The others are startup Equity, federal Grant Reimbursement and trask Innovation Fund.
Who are Purdue Foundry's main competitors?
Direct peers on record are Stanford Office of Technology Licensing (OTL), MIT Technology Licensing Office, Wisconsin Alumni Research Foundation (WARF), Columbia Technology Ventures, University of Michigan Innovation Partnerships, University of Illinois Urbana-Champaign Office of Technology Management and OSU Technology Commercialization Office. Techstars is listed as an emerging player. Broad incumbents are Y Combinator and National Science Foundation I-Corps.
Does Purdue Foundry have an API?
No public API is recorded for Purdue Foundry.
What industry is Purdue Foundry in?
Purdue Foundry's product category is Technology Transfer Services. Its primary akta.pro industry code is EDAHABAH, Technology Transfer & Innovation-Driven Research Universities (High Commercialization), with a secondary code of EDAHAEAH, Technical Universities with Entrepreneurship & Incubation Focus. Its NAICS code is 5416 and its SIC code is 6794.