Purdue Innovates: Empowering Innovators and Entrepreneurs

At Purdue University, innovation is more than just discovery—it's the launchpad for bold startups and world-changing inventions. Launched in April 2023 and enhanced in summer 2025, Purdue Innovates serves as a unified gateway for technology commercialization, startup incubation, and venture investment, supporting faculty, staff, students, and alumni in transforming ideas into impactful realities.

The inaugural cohort of Purdue Innovates Accelerator at pitch night, featuring startups like REV Pharmaceuticals and Capturely.

Purdue consistently ranks among the top global universities for commercialization, holding the fourth position in the U.S. for patents received, with 213 U.S. issued patents in recent years. This initiative has unified efforts across technology transfer, incubation, and investment, making it easier for Boilermakers to navigate the innovation ecosystem.

Key Achievements and Highlights

Under Purdue Innovates, significant milestones include:

• Receiving over $100 million in royalties from the prostate cancer drug Pluvicto, developed by Philip Low.
• Eradivir, a biotech company, raising $10.25 million in Series A funding for its influenza therapeutic, reaching a potential audience of over 5 billion.
• Winning a patent infringement lawsuit against STMicroelectronics, resulting in $32.5 million in damages to protect intellectual property.
• The acquisition of Adranos Inc., a Purdue-originated startup, by defense technology company Anduril Industries.

New Programs and Initiatives

Purdue Innovates has introduced several cornerstone programs to bolster support:

• Purdue Innovates Accelerator: A three-month, investment-based program helping founders turn visions into disruptive companies.
• Commercialization Fellowship: Offers recent PhD graduates and postdocs opportunities to advance IP commercialization through startups or licensing.
• Low Institute for Therapeutics (LIFT): A new approach to market Purdue technologies, building on therapeutic commercialization successes.

Announcement of LIFT with key figures including Philip Low and President Mung Chiang.

Enhanced Funding and Support

The system provides various funding avenues:

• Student entrepreneurship programs like the Moonshot Pitch Challenge and New Venture Challenge, awarding over $75,000 in prizes.
• The Trask Innovation Fund supports researchers with up to $100,000 to bridge the 'valley of death' in innovation.
• Additional prototyping funds and industry collaborations through FusionPoint.

In fiscal year 2025, Purdue reported 161 licensing deals, with 18 to faculty or student startups, and 269 technologies licensed, showcasing global impact across 50 U.S. states and over 100 countries.

Comprehensive Ecosystem Coverage

Purdue Innovates encompasses:

• Office of Technology Commercialization: A leading tech transfer program with technologies available at inventions.prf.org.
• Incubator: Support for early-stage startups with programs and services.
• Ventures: Investment and community activation for high-growth startups in sectors like agriculture, deep tech, and life sciences.

Collaborations extend to other Purdue programs, including entrepreneurship certificates, I-Corps, and various colleges, ensuring a robust support network.

Winners from the New Venture Challenge at the Purdue Innovates Startup & Technology Expo.

Key partners like the Silicon Valley Boilermaker Innovation Group and High Alpha play vital roles in mentoring and funding startups, reinforcing Purdue's position as a hub for innovation.