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Inc. magazine lists 2 Purdue Research Park-based companies among nation’s fastest growing

admin — Thu, 13 Aug 2009 22:00:56 +0000

WEST LAFAYETTE, Ind. — Two Purdue Research Park-based companies rank among the fastest-growing privately held companies in the United States, according to editors of Inc. magazine.

Purdue Research Park based companies, Officescape Inc. and Passageways LLC, were both ranked on the third annual Inc. 5000 list.

Officescape Inc. and Passageways LLC were ranked on the third annual “Inc. 5000″ list.

Officescape is 25th among the 62 Indiana-based companies on the list. Between 2005 and 2008, the company saw revenue growth of 206.6 percent, increasing from $1.9 million to $5.9 million over that time. The company has an office in the International Technology Center in the Purdue Research Park of West Lafayette as well as in Indianapolis.

Passageways ranks 36th among Indiana-based companies. The company experienced a 115.2 percent increase in revenue from 2005 to 2008, growing from $1.3 million to $2.7 million. This is the second year in a row that Passageways has been ranked on the annual Inc. 5000 list. The company also has an office at the Purdue Research Park of West Lafayette.

Officescape is an office service provider employing advanced technology to provide office-on-demand, virtual office, unified communications, video and Web conferencing, and Web services to their professional and business clients.

Passageways is an industry-leading provider of enterprise portal solutions to financial institutions. The solutions provide financial institutions with the ability to organize, manage and deliver role-based views and access to enterprise information such as content, applications, business processes, collaboration and more.

Companies on the 2009 Inc. 5000 list are ranked by percentage of revenue growth between 2005 and 2008. The minimum qualifications were at least $200,000 in revenue in 2005 and at least $2 million in 2008. Companies on the list also generated revenue by the first week of 2005 and showed sales for four full calendar years. All companies are based in the United States, for profit, privately held and independent – neither a subsidiary nor a division of another company – as of Dec. 31, 2008. The Inc. 500 list, in its 28th year, comprises the companies in the top 10 percent of the Inc. 5000.

About Officescape Inc.

Officescape integrates the most advanced information technology with the established “office suites” industry into a mobile and secure working platform for today’s business professionals. Officescape’s online and physical office services offer flexible terms and unprecedented efficiency.

About Passageways LLC

Passageways specializes in providing corporate portal solutions for financial institutions, connecting their employees, directors, partners and vendors. Passageways’ solutions are used to streamline communications, increase collaboration and automate internal processes by replacing traditional intranet solutions. Passageways supports nearly 200 banks’ and credit unions’ portals, including several dozen board portals and a number of industrywide community portals, making it a leader in collaboration solutions in the financial services industry.

About Purdue Research Park

The 725-acre Purdue Research Park of West Lafayette has the largest university-affiliated business incubation complex in the country. The park is home to more than 160 companies. About 100 of these firms are technology-related and another 39 are incubator businesses. The park is owned and managed by the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.

Three businesses in Purdue Research Park named Companies to Watch

admin — Fri, 17 Jul 2009 16:01:10 +0000

WEST LAFAYETTE, Ind. — En’Urga, Kylin Therapeutics and Passageways, three Purdue Research Park-based firms, were named by the Indiana Economic Development Corp. in its second annual list of 50 Companies to Watch.

“These three companies represent some of the key economic sectors – life sciences, information technology and engineering – that will diversify and strengthen Indiana’s economy,” said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park. “Recognition in the Companies to Watch program is a great honor for an entrepreneur, especially when you consider that nearly 450 companies were nominated for the award.”

The program is sponsored by the Indiana Economic Development Corp. and its Small Business Development Center network; Barnes & Thorburg LLP; KeyBank; Premier Capital Corporation; Katz, Sapper & Miller; Purdue University; and the Edward Lowe Foundation. An awards ceremony will be held Aug. 27 at the Indiana Roof Ballroom in Indianapolis.

The Purdue Research Park-based firms included in the 2009 list include:

En’Urga Inc., which helps some of the world’s largest manufacturers, utility companies and government agencies maintain quality and efficiency while protecting the environment through its products and contract services in combustion diagnostics and combustion systems analysis.

Kylin Therapeutics Inc., a biotechnology company that employs an RNA nanoparticle technology platform called pRNA to exploit the enormous potential of RNA interference (RNAi) for treatment of many common diseases. This platform has enormous potential to meet the huge market opportunity for treating cancer and other diseases with RNA-based therapeutics. The unique capabilities of the platform have enabled Kylin to overcome the most significant challenges in the development of RNA-based therapies.

Passageways LLC, a leading portal provider to the community bank and credit union industry. Passageways’ mission is to provide an affordable portal strategy for financial institutions of all sizes, helping employees, directors and partners become more efficient in collaboration and communications.

Last year, Purdue Research Park-based companies named as Companies to Watch were Cook Biotech Inc., Endocyte Inc., Next Wave Systems LLC, Quadraspec Inc. and Simulex Inc.

Indiana high school students win college tuition vouchers at Purdue Research Park Entrepreneurship Academy

admin — Sat, 27 Jun 2009 22:40:32 +0000

WEST LAFAYETTE, Ind. — Indiana high school students in top-finishing teams of the third annual Purdue Research Park Entrepreneurship Academy competition received college tuition vouchers during a special event Friday (June 26).

The vouchers ranged from $100 to $500 and can be used at all Purdue University and Ivy Tech Community College campuses in Indiana. About 50 juniors and seniors from 21 Indiana counties participated in the program.

Anthony Rice of Greenwood presents a business plan for the company 'Impulse Inc.' before judges during the Purdue Research Park Entrepreneurship Academy. About 50 Indiana high school juniors and seniors worked with business leaders to create a business, including a financial plan, marketing plan and product development during the weeklong event that concluded Friday (June 26). (Andrew Hancock/Purdue Marketing and Media)

“Indiana’s and the country’s economy depend upon not only the creation of new innovations and technologies but also their commercialization,” said Gregory W. Deason, vice president for real estate and research park development. “The future entrepreneurs who participated in the Purdue Research Park Entrepreneurship Academy have built upon their critical skills and abilities, which will aid them in college and their careers.”

The weeklong academy was based on Wendy Kennedy’s entrepreneurship program “So what? who cares? why you?”. Kennedy’s program has been adapted by numerous entrepreneurship and educational organizations across North America.

Students formed teams to create business plans and investor presentations for a range of case studies.

First place went to “Impulse,” with team members Jim Schrader of Central Catholic Junior & Senior High School in Lafayette, Anthony Rice of Greenwood High School in Greenwood, Princessa Rennewanz of Logansport High School in Logansport, Nitesh Bajaj, West Lafayette High School in West Lafayette and John Kipfer of Adams Central High School in Bluffton. The team was mentored by Jonathon Gortat of the Purdue Research Foundation’s Office of Technology Commercialization.

“I really learned what it means to create a marketing plan and a business,” said Schrader. “The most important skill I learned was working with people and understanding their strengths and weaknesses and getting the right synergy going.”

Rice of Greenwood High School agreed. “The whole experience left me with an understanding of how much it takes to be a successful entrepreneur,” Rice said.

Rennewanz of Logansport High School was a second-year participant in the academy.

“I feel more confident this year and understand more about what is going on,” she said. “It’s been exciting because there was something different going on every day as we faced new challenges.”

Bajaj, who also was participating in his second year, said, “It was interesting to apply business knowledge to a different product. Last year we had a bicycle and this year it is a medical implant.”

“I had no idea how much technical work goes into creating a business,” added Kipfer.

Purdue University faculty, Purdue Research Foundation staff, industry experts and high-tech business entrepreneurs worked with the teams to test the feasibility of the case studies, identify capital needs and devise a management plan.

“It’s been a busy week, but rewarding especially when you see the light bulb go off in a student’s eyes when you answer their questions,” Gortat said.

Students from second- and third-place teams, their high schools and hometowns are:

Second place: Saar Inc. with team members are David Gerth, Franklin Central High School, Indianapolis; Alexandra Huang, Greenfield Homeschool Co-op, Indianapolis; Caleb Nagel, Benton Central High School, West Lafayette; Briseida Sandoval, Frankfort High School, Frankfort; and Andrew Stearns, Argos High School, Argos. The team was mentored by Shane Fimbel of the Purdue Research Foundation’s Office of Technology Commercialization.

Third place: Petroleum with team members are Greg Burns, Central Catholic High School, Lafayette; Dongyun Lee, Hamilton Southeastern High School, Fishers; Jennifer Park, Bloomington North High School, Bloomington; Aaron Simmons, Shawe Memorial High School, North Vernon; Jacob Stouder, Triton High School, Etna Green; and Shane White, Greenwood High School, Greenwood. The team was mentored by Heather Clark-Reynolds of the Hoosier Heartland Small Business Development Center.

The David E. Ross Award for Entrepreneurial Distinction was presented to Caleb Nagel of Benton Central High School in Oxford, who was part of the HealRight Team that created a company called Saar Inc. “When I came here last week I did not know a single person on my team,” he said. “But when you spend this much time around the clock with people you get to know them pretty well. I have made many new friends through this experience.”

Participating students were from Adams, Allen, Benton, Cass, Clinton, Delaware, Floyd, Gibson, Greene, Hamilton, Hancock, Hendricks, Howard, Jefferson, Johnson, Lake, Marion, Marshall, Monroe, Tippecanoe and Vanderburgh counties.

Judges for the academy were Brad Addison, Barnes & Thornburg LLP; Jody Hamilton, Greater Lafayette Commerce; John Hertig, AMIPurdue (Alfred Mann Institute for Biomedical Development); Gail Koehler, Purdue Employees Federal Credit Union (PEFCU); and David Shelby, ICx Griffin Analytical.

Academy sponsors included AMIPurdue, Barnes & Thornburg LLP, Camille’s Sidewalk Café, CSO Architects, Dairy Queen, Flowers by Rustic Bouquet, Greater Lafayette Commerce, Holladay Properties, Ice Miller, Knoy Apparel, Lafayette Office Supply, PEFCU, the Purdue Research Foundation and Sign Art Etc.

Team members Si Yi Huang of Greenwood, Mathew Altepeter of Lafayette, Josie Gandy of Frankfort, Kyle Yoder of Indianapolis and Jake Pusateri of Fishers present their business plan for the company 'Compact Disk Diagnostics LLC' before judges during the Purdue Research Park Entrepreneurship Academy. Judges facing the students are from left: Jody Hamilton of Greater Lafayette Commerce, Gail Koehler of PEFCU, Dave Shelby of ICx Griffin Analytical Technologies Inc. and Brad Addison of Barnes & Thornburg LLP. (Andrew Hancock/Purdue Marketing and Media)

Other teams participating in the event included:

RipeRight: Emily Bielefeld, Westfield High School, Westfield; Daniel Collins, Floyd Central High School, Floyds Knobs; Niall Lockyear, F.J. Reitz High School, Evansville; Caralyn Rich, Frankfort High School, Frankfort; Bosi Zhang, Hamilton Southeastern High School, Fortville. The team was mentored by Susan Davis of Greater Lafayette Small Business Development Center.

BikeRight: Sadie Brown, Taylor High School, Kokomo; Franklin Eaglebarger, Indiana Academy for Science, Math & Humanities, Cedar Lake; Austin Marcotte, Brownsburg High School, Brownsburg; Vinya Sagi, West Lafayette High School, West Lafayette; Dalton Snyder, Gibson Southern High School, Haubstadt. The team was mentored by Raul Flamenco of FlamencoNets LLC.

DrillRight: Cary Carreño, Frankfort High School, Frankfort; Phillip Foreman, Lake Central High School, Crown Point; George Garrett, Benton Central High School, Pine Village; Grant McAdams, Franklin Central High School, Indianapolis; and Nicolas Spoentgen, Jefferson High School, Lafayette. The team was mentored by Chris Beltran of Passageways.

DiagnoseRight: Madison Donoho, Frankfort High School, Frankfort; Tiffiny Dreibelbis, Argos High School, Bourbon; Keilor Gilbert, Eastern Greene High School, Solsberry; Christopher Nei, Elmhurst High School, Fort Wayne; Carmen Siew, Crown Point High School, Crown Point; and Andrew Thomas, Leo High School, Fort Wayne. The team was mentored by Stroh Brann of Seneca Consulting LLC.

TestRight: Mathew Altepeter, Jefferson High School, Lafayette; Josie Gandy, Frankfort High School, Frankfort; Si Yu Huang, Greenwood High School, Greenwood; Jake Pusateri, Hamilton Southeastern High School, Fishers; and Kyle Yoder, Franklin Central High School, Indianapolis. The team was mentored by Chris McEvoy of Actum Group.

ReadRight: Emmanuel Bravo, Triton High School, Bourbon; Nicole Jancetic, Elmhurst High School, Fort Wayne; Mark Krutolis, West Lafayette High School, West Lafayette; Alex Robinson, Indiana Academy for Science, Math & Humanities, Goshen; and Tom Zhang, Hamilton Southeastern High School, Fortville. The team was mentored by Steve Thalls of ActionCOACH Business Coaching.

Purdue Research Park dedicates new tech center, honors EE alumnus and spouse

admin — Thu, 28 May 2009 18:27:07 +0000

WEST LAFAYETTE, Ind. — Purdue Research Park officials dedicated a 105,000-square-foot technology center on Wednesday (May 27) in honor of Heddy Kurz and her late husband, Herman Kurz, a Purdue University electrical engineering alumnus.

More than 200 people gathered for the dedication of the Herman and Heddy Kurz Purdue Technology Center in the Purdue Research Park. The 105,000-square-foot facility will house the Purdue Research Foundation offices, provide space for up to 26 companies and support up to 275 jobs. (Purdue University photo/Andrew Hancock)

The Herman and Heddy Kurz Purdue Technology Center, 1281 Win Hentschel Blvd., will house the Purdue Research Foundation offices, provide space for up to 26 companies and support about 275 jobs. Heddy, who lives in Louisville, made a deferred gift in the amount of $3 million in honor of Herman to help fund the $14.5 million, 13-acre Purdue Research Park expansion.

“This is the first gift of this magnitude that the Purdue Research Foundation has received to name a facility in the Purdue Research Park,” said France A. Córdova, president of both Purdue and the Purdue Research Foundation. “The Herman and Heddy Kurz Purdue Technology Center represents the Purdue Research Park’s success in economic development.”

Kurz previously donated $1.9 million for the Herman and Heddy Kurz Atrium in the Neil Armstrong Hall of Engineering and $2 million for the Herman and Heddy Kurz Lobby in the Richard and Patricia Lawson Computer Science Building. The couple also has supported the purchase and maintenance of instruments for the Purdue band.

“Herman used to say that his professional success came from the educational foundation he received while at Purdue,” Kurz said. “I know he would be proud of the gifts bestowed on Purdue to make it an even greater university.”

Heddy Kurz speaks at Wednesday's (May 27) dedication of the Herman and Heddy Kurz Purdue Technology Center in the Purdue Research Park. Heddy Kurz gave a $3 million deferred gift for the building. (Purdue University photo/Andrew Hancock)

Herman Kurz worked as an electrical engineer throughout his career. While a student at Purdue, he was treasurer of the Literary Society and a member of the debate team, Purdue Marching Band, Kappa Phi Sigma honorary society, YMCA, Purdue Athletic Association and the American Institute of Electrical Engineers. Heddy Kurz attended the University of Louisville.

As part of the transition to the new facility, foundation employees moved out of the original Purdue Technology Center. The first center, which opened in 1999 and expanded in 2005, contains more than 100,000 square feet of laboratory and office space. The building has operated at capacity since opening.

“The Herman and Heddy Kurz Purdue Technology Center and the Innovation Center dedicated last month will help us meet the expansion needs of current research park companies and make room for new companies wishing to move into the park,” said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park. “The new facility also has conference rooms and a larger lobby area that will give us the space we need to host events for the more than 160 companies in the West Lafayette park.”

With the addition of the two new buildings, the Purdue Research Park of West Lafayette has about 364,000 square feet of incubation space, making it the largest business incubator complex in the state. Sample Street Business Complex in South Bend is second with 188,383 square feet.

“The state has a number of incubators like the Purdue Research Park where entrepreneurs can get the support they need in the early stages of innovation,” said Mitch Roob, Indiana Secretary of Commerce and chief executive officer of the Indiana Economic Development Corp. “The state’s ongoing partnerships with the Purdue Research Park and the many companies developing the technology of tomorrow are vitally important to our economic base.”

The fund was created in 1999 by the Indiana General Assembly to stimulate the process of diversifying the state’s economy by developing and commercializing advanced technologies.

The development of the new facility also was supported through the city of West Lafayette’s $1.5 million 10-year tax abatement.

“Our partnership with the Purdue Research Foundation is important to the city of West Lafayette and to the economic health of our region,” Mayor John Dennis said. “The park has more than 3,700 employees earning an average annual wage of $54,000. Those statistics are terrific by themselves, but then you add those figures with the jobs created outside the park just because of the presence of Purdue Research Park in our city.”

According to the October 2007 Battelle study “Characteristics and Trends in North American Research Parks: 21st Century Directions,” every job in a university research park generated an average of 2.57 jobs in the economy.

“Overall, we still have a strong manufacturing base in the state but that is diminishing, and in the past decade the economic landscape of Indiana has shifted to life sciences such as medical and biomedical devices,” said Gerry Dick, president and managing editor of Grow Indiana Media Ventures LLC, who spoke at the event. “This changing economy is strongly supported by the Purdue Research Park and other statewide initiatives that encourage the development and commercialization of life science discoveries. The job creation in and around these incubators is phenomenal.”

Officials celebrate opening of international technology company’s new software center in Purdue Research Park

admin — Tue, 28 Apr 2009 00:51:49 +0000

WEST LAFAYETTE, Ind. — More than 300 people are expected to attend Tuesday’s (April 28) dedication of the Purdue Research Park’s 80,000-square-foot Innovation Center, which will be home to a national software solution center for EDS, an HP company.

“Innovation Center is one of the finest examples of how collaborations among Purdue officials, state and local representatives, and company leaders can make positive things happen even in a challenging economic climate,” said Purdue University President France A. Córdova. “The presence of EDS in the Purdue Research Park of West Lafayette means even greater job opportunities for those looking for jobs right now.”

Innovation Center's 80,000-square-foot facility is the newest building to be dedicated in the 725-acre Purdue Research Park in West Lafayette, Ind. The structure, which was built in partnership with Holladay Properties Inc., will be home to a national software solution center for EDS, an HP company.

Indiana Gov. Mitch Daniels, Secretary of Commerce and Chief Executive Officer for the Indiana Economic Development Corp. Mitch Roob, West Lafayette Mayor John Dennis, Purdue Research Foundation Senior Vice President Joseph B. Hornett and others collaborated to bring EDS to the state and to West Lafayette.

“EDS will draw upon the local talent pool to develop technology solutions that enable our commercial and government health-care clients to become more efficient, more cost effective and better able to serve millions of Americans,” said Rick Shaffer, vice president of global health care at EDS, an HP company. “EDS has been in the state for nearly a quarter century, so we have a long, positive history here. We look forward to working with Purdue University to best identify and meet our clients’ needs.”

The Innovation Center, 3400 Kent Ave., will provide 45,000 square feet of space for more than 200 software engineer and business analyst positions created by EDS. The remaining space will be used by other park companies.

“EDS is a cornerstone in Innovation Center, and their decision to move into the Purdue Research Park was an important one for them, for us and for our community because of the employment opportunities and expansion possibilities,” Hornett said. “Innovation Center also provides us with the much-needed space for other new or expanding companies that want to move into the park.”

The 725-acre Purdue Research Park currently provides nearly 364,000 square feet of office, research and work space to its more than 160 companies. The 105,000-square-foot Herman and Heddy Kurz Technology Center also is under construction in the park and will be dedicated in May. More than 3,700 people work in the Purdue Research Park.

The Purdue Research Foundation and South Bend-based Holladay Properties Inc. formed a joint venture to develop Innovation Center as part of the recruitment of EDS to West Lafayette.

“Innovation Center is just one of the many partnerships we’ve had with the Purdue Research Park,” said John Phair, president and CEO of Holladay Properties. “We also have partnered with them in the development of the Purdue Technology Center of Northwest Indiana and the Purdue Research Park at AmeriPlex-Indianapolis. We are doing this because we believe in the economic strength of Indiana and of the Purdue Research Park system.”

The Indiana Economic Development Corp. offered EDS up to $300,000 in training grants based on the company’s job creation plans.

“There was strong competition from other states for this opportunity, so we are especially pleased that EDS chose Indiana for its new software center investment,” Roob said.

The city of West Lafayette provided $1.5 million in incentives to bring the company to the area.

“The recruitment of EDS to West Lafayette is another example of the unique partnership the city has with Purdue Research Park and Purdue University, and that is why the city leaders worked hard to give EDS an economic incentive to locate in our area,” Dennis said. “We are fortunate to have such a strong engine for business development in our city, especially in this economic environment. The end result is that we have more than the 200-plus jobs that will add to the whole area’s economy and that will create other jobs outside the park.”

About Purdue Research Park
Purdue Research Park (http://www.purdueresearchpark.com) encompasses 725 acres in West Lafayette, Ind., and is home to the nation’s largest university-affiliated business incubator complex. Within the park, 160 businesses, of which more than 100 are high-tech, employ more than 3,700 people. The Association of University Research Parks recognized Purdue Research Park for Excellence in Technology Transfer in 2005, and the park received the organization’s Research/Science Park Company of the Year Award of Excellence in 2004.

About Holladay Properties
Holladay Properties, established in 1952 by well-known architect Wallace F. Holladay, has grown and diversified from building single-family tract housing to become one of the largest privately held developers, design-build firms and fully integrated real estate companies in the eastern half of the United States. Holladay Properties combines its longevity and professional expertise with a solid, financially strong corporate structure to successfully complete projects of all sizes and scopes, primarily in five market areas: build-to-suits (commercial and industrial), land development, hotels, health care and retail. With a total project valuation of more than $2 billion, Holladay Properties has built projects ranging from $750,000 to $75 million in more than 15 states.

About IEDC
Created by Gov. Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit http://www.iedc.in.gov

Student-Managed Venture Fund invests $100,000 in Purdue Research Park company

admin — Tue, 03 Mar 2009 17:36:24 +0000

WEST LAFAYETTE, Ind. — Purdue University’s Student-Managed Venture Fund, administered by the Burton D. Morgan Center for Entrepreneurship and the Krannert School of Management, is investing $100,000 in Kylin Therapeutics Inc.

The funding is part of a $2 million round of financing led by In-vivo Ventures and Golden Pine Ventures. The funds will help advance Kylin Therapeutics’ lead cancer therapy to the marketplace.

Kylin Therapeutics, located at Purdue Research Park, is in the preclinical stage of commercializing a technology called pRNAi. Based on a Purdue discovery, the technology uses RNA and a natural process called RNA interference (RNAi) to target and “turn off” disease-causing genes.

“We believe the pRNAi platform has superior functionality and will be able to be delivered systematically,” said Eric Davis, Kylin’s president and CEO.

The $100,000 investment stems from a degree program for Krannert MBA students. They analyzed Kylin’s business plan and decided to invest in the Indiana company. Stephanie Williams is a first-year MBA student in Krannert who participated in the due-diligence process on Kylin.

“Our team had the opportunity to meet with the Kylin management team while they assisted with our process of data collection,” Williams said.

Davis said the Student-Managed Venture Fund and Burton D. Morgan Center for Entrepreneurship are assets in economic development not only for Purdue and West Lafayette, but also for the entire state.

“Indiana entrepreneurs and startup company executives seek resources to strengthen their own network and to develop financial support,” Davis said. “These resources and others make the city and state very attractive to high-tech and life sciences entrepreneurs and business executives.”

Kylin was awarded the funding in the 2008-2009 academic year. Davis said the company will use the funding to develop its lead cancer treatment.

“Research in this area shows promise in treating prostate cancer, ovarian cancer and other diseases,” he said.

With current assets of $130,000, the Student-Managed Venture Fund has $25,000 for its next planned investment in fall 2009, said Purdue professor Kenneth Kahn, the Avrum and Joyce Gray Director of the Burton Morgan Center.

“The Student-Managed Venture Fund serves as an investment vehicle to spur commercialization of Purdue research,” Kahn said. “Just as importantly, the fund is an educational vehicle to provide hands-on understanding of venture capital and investment for the university’s entrepreneurially minded students.”

About Burton D. Morgan Center for Entrepreneurship

The Burton D. Morgan Center for Entrepreneurship is Purdue’s interdisciplinary hub for entrepreneurship. Through its sponsored initiatives, including the Certificate in Entrepreneurship and Innovation, Technology Realization Program, Entrepreneurial Leadership Academy and Business Plan Competitions, the center aims to stimulate entrepreneurship at Purdue and serves as a state, regional and national resource. Located in Discovery Park, the Burton Morgan Center leads Purdue’s Kauffman Campuses Initiative and plays a key role in facilitating business development for emerging concepts and technologies stemming from Discovery Park research.

About Kylin Therapeutics

Kylin Therapeutics Inc. is a biotechnology company that employs an RNA nanoparticle technology platform called “pRNA” to exploit the enormous potential of RNA interference (RNAi) for treatment of many common diseases. This platform has potential to meet the huge market opportunity for treating cancer and other diseases with RNA-based therapeutics. The unique capabilities of the platform have enabled Kylin to overcome the most significant challenges in the development of RNA-based therapies.

Nominations for Purdue Research Park Entrepreneurship Academy under way

admin — Tue, 24 Feb 2009 17:38:52 +0000

WEST LAFAYETTE, Ind. — Indiana high school administrators and teachers have until April 24 to nominate juniors and seniors for the third annual Purdue Research Park Entrepreneurship Academy.

Students accepted into the weeklong program will learn what it is like to create a business from the concept to raising funds and creating prototypes. At the completion of the program, student teams will be judged by economic development experts on how well they developed business case studies, crafted marketing plans and planned to raise venture capital.

Students at last year's Entrepreneurship Academy pitch new business ideas. (Photo courtesy Purdue Research Park)

Members of teams with the highest scores will receive college tuition vouchers to pursue a degree in higher education. All Purdue University campuses and Ivy Tech Community College campuses in Indiana accept the vouchers, which range from $100 to $500.

Timothy Peoples, director of the Purdue Research Park Entrepreneurship Academy, said that for the first time nominees will have to include a writing sample. Students should describe what they hope to gain from the weeklong academy in 250 words.

Nomination forms can be downloaded from the academy’s Web site at http://www.purdueresearchpark.com/academy/nomination.asp. There is no fee to nominate a student, and there is no limit to the number of students that can be nominated from a single school.

Sponsors for the 2009 program include the Alfred Mann Institute for Biomedical Development at Purdue University, Sign Art Etc., Purdue Employees Federal Credit Union and Purdue Research Foundation. Peoples said additional sponsors are being sought.

The weeklong academy will be June 21-26 on Purdue’s West Lafayette campus. During the program, students will work with successful high-tech entrepreneurs, business experts, industry leaders, Purdue faculty and Purdue Research Foundation staff.

Purdue, state, local officials announce first company, dedicate research park by new Indianapolis airport

admin — Mon, 26 Jan 2009 03:28:10 +0000

INDIANAPOLIS, Ind. — The first tenant company of the Purdue Research Park at AmeriPlex-Indianapolis was announced by Purdue University officials Wednesday (Jan. 21) during a dedication ceremony for the 55,000-square-foot incubator that will help high-tech entrepreneurs create new businesses, develop new technology and expand life sciences research in Indiana.

“We chose to locate the research park in Indianapolis because it is in the center of our statewide technology highway,” Purdue President France A. Córdova said. “From northwest in Merrillville, to southeast in New Albany, our research parks continue to advance the state as a hub for innovation and discovery. This location near the new airport will provide additional incentive for national and international companies to choose Indiana as the place to do business.”

The Purdue Research Park at AmeriPlex-Indianapolis technology center, is located at 5225 Exploration Drive, near the Indianapolis International Airport. (Purdue News Service photo/Andrew Hancock)

Córdova told the nearly 300 people attending the dedication that high-tech telecommunications company FlamencoNets Inc. will be the first business housed in the new research park.

FlamencoNets had previously be an affiliate company at the Purdue Research Park at West Lafayette, Ind. An affiliate company is one that is a member of the research park but is not physically based there.

“I joined the Purdue Research Park last year but I wanted to keep my company in the Indianapolis area, so I’ve been waiting for the new research park to open so I could move in,” said Raul Flamenco, founder and president of FlamencoNets. “I appreciate the amenities I’ve received like entrepreneurial conferences and marketing assistance that I’ve had from being affiliated with the Purdue Research Park, and I look forward to having office space in the new facility.”

The new $12.8 million technology center in the Purdue Research Park at AmeriPlex-Indianapolis will accommodate up to 75 businesses and create 1,500 jobs with an average annual salary of $54,000. Most of the new jobs will be in the life sciences and high-tech areas.

The new facility is located at 5225 Exploration Drive along the I-70 corridor and near the midfield terminal of the Indianapolis International Airport. The 78-acre site was purchased by the Purdue Research Foundation and Holladay Properties, a South Bend-based national real estate development company. The Purdue Research Park at Ameriplex-Indianapolis is the centerpiece of the latest 400-acre phase of AmeriPlex-Indianapolis, a nearly 1,500-acre development.

The city of Indianapolis provided a $5 million grant to support the development.

“Collaborative measures like the partnership with Purdue Research Park and Holladay Properties are key in cultivating economic development within our community and keeping Indianapolis competitive in the business world,” said Indianapolis Mayor Greg Ballard. “This facility and the expected growth of the area in the wake of the opening of the new Indianapolis International Airport will set the stage for Indianapolis’ future growth.”

The Purdue Research Park at AmeriPlex-Indianapolis will include:

A 100,000- to 150,000-square-foot industrial flex building.
A 50,000- to 70,000-square-foot multistory office building.
The potential for four additional buildings for companies to accelerate business opportunities.
A 300-bed, six-story hotel with a 30,000-square-foot conference center.
Three sites for restaurants or retail shops.

The university’s other established parks are the Purdue Research Park in West Lafayette, Purdue Research Park in Merrillville and the Purdue Research Park in New Albany.

“The Purdue Research Parks are situated along I-65 from northwest Indiana to southeast Indiana,” said Joseph B. Hornett, Purdue Research Foundation senior vice president, treasurer and COO. “We anticipate the same level of success at the Indianapolis park as we have experienced at our other parks in the state. Combined, the parks support nearly 200 companies and provide jobs for more than 3,200 people.”

Purdue previously partnered with Holladay Properties to develop the Merrillville-based Purdue Technology Center of Northwest Indiana.

“This is the second major partnership we have had with the Purdue Research Foundation,” said Doug Hunt, senior vice president of development for Holladay Properties. “With the additional plans to further develop the area with more business offices, restaurants and retail space, we know that this endeavor will not only strengthen our partnership with Purdue but also will support the economic development of the city and state.”

In addition to assisting with the Indianapolis site, the Indiana Economic Development Corp. has worked with Purdue on its other technology parks around the state.

“Indiana has a strong commitment to economic development,” said Mitch Roob, chief executive officer for the Indiana Economic Development Corp. “We support the Purdue Research Parks and similar endeavors through the 21st Century Research and Technology Fund and Certified Technology Parks program. Both help attract high-tech businesses to Indiana.”

Purdue, Bose McKinney offer intellectual property workshops

admin — Mon, 05 Jan 2009 15:42:53 +0000

WEST LAFAYETTE, Ind. — Purdue University and law firm Bose McKinney & Evans LLP will offer two free workshops this month focused on the legal issues of intellectual property involving trademarks, copyrights, patents and trade secrets.

The first session, from 9-11 a.m. Jan. 20, is planned at Discovery Park’s Burton D. Morgan Center for Entrepreneurship, Room 121. The workshop will be repeated from 9-11 a.m. Jan. 27 at Purdue Research Park’s Conference Center, 3000 Kent Ave.

The workshops, titled “Minimize Your Legal Costs While Maximizing Your IP Protection,” are free, but reservations are required. To register, contact kraymer@boselaw.com, (317) 684-5293. For more information, go online to http://www.boselaw.com/events-seminars.cfm?event_id=21.

Attorneys at Bose McKinney & Evans will provide basic information on various types of intellectual property such as trademarks, copyrights and patents, said event co-organizer Julie Goonewardene, director of business development for Purdue Research Parks and Discovery Park.

Presenters will outline how to legally protect intellectual property and when you should consider consulting an attorney or patent agent. In addition, attorneys will discuss the importance of protecting and respecting intellectual property rights in artistic works and marketing initiatives.

Jennifer Walker of Bose McKinney & Evans said the workshops are targeted for entrepreneurs, corporate executives, business owners, scientists, engineers, professors, technology transfer officers, marketing professionals, designers, technology transfer officers and students.

Quadraspec officials announce hiring of chief scientific officer

admin — Tue, 02 Sep 2008 20:33:07 +0000

WEST LAFAYETTE, Ind. — Quadraspec Inc. officials announced Tuesday (Sept. 2) that Stefan Gruenwald, M.D., Ph.D., has joined the company as chief scientific officer.

“Stefan will be an instrumental asset in providing exemplary scientific and strategic leadership and in developing Quadraspec’s technology and scientific work force,” said Jonathon Bradley, director of staffing at Quadraspec, a Purdue Research Park-based company.

Stefan Gruenwald, M.D., Ph.D. has been named Chief Scientific Officer of West Lafayette based Quadraspec

Dr. Gruenwald is responsible for Quadraspec’s intellectual property, scientific development strategy, and research and development oversight.

He received graduate and doctorate degrees from Johann Wolfgang Goethe University in Frankfurt, Germany. Since 2004 he has been the adviser to many small startup companies in the biotech and nanotech arena and has mediated talks with angel investors and venture capital groups.

“Stefan’s knowledge as a physician and a researcher also gives us the capability to link our development to customer requirements,” said Richard Adelman, Quadraspec president and COO. “These unique combinations of skills and experience are a tremendous addition to the Quadraspec team. We are pleased he has decided to relocate from San Diego to West Lafayette in order to join us.”

About Quadraspec

Quadraspec Inc. commercializes the Bio-CD System using Spinning Disc Interferometry™ (SDI™), a patented direct detection diagnostics platform for high-throughput, label-free, highly sensitive and multiplexed assays for protein analysis. Quadraspec products include an SDI™ Bio-CD reader capable of reading more than 750 samples per hour; a fully automated sample processor capable of either 100 or 250 samples per hour; a workstation with customized software packages; and Assay Development Bio-CDs for partners and researchers to develop or perform assays and diagnostics.

About Purdue Research Park

The 725-acre Purdue Research Park (http://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 140 companies. About 90 of these firms are technology-related and another 39 are incubator businesses. The park was ranked No. 1 in 2004 for university- affiliated research parks and received the 2005 Outstanding Commercialization Award, both from the Association of University Research Parks. The park’s companies also have received numerous recognitions, including a 2006 MIRA Award: Innovation of the Year for Purdue Research Park/Quadraspec Inc. and a 2005 CoreNet Global Innovators Award finalist. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established or is currently constructing technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.

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