Business Growth
Business market assistance
If your company is in its “second-stage,” meaning it has about 10 to 99 employees and/or $750,000 to $10 million in revenue, it may be eligible to receive assistance through Purdue’s Economic Gardening initiative. Economic gardening focuses on (1) core business strategy, (2) market intelligence, (3) qualified leads, (4) and leadership and management team development.
A student workforce
Purdue Research Park located in West Lafayette offers companies the advantage of near-campus Student Fulfillment Centers This labor set-up allows emerging and second-stage technology-based companies to produce a high-quality work product while relying primarily on a student labor force. Examples of a Student Fulfillment Center include the Delphi E&S Verification Lab and the RSA Security, Inc. Anti-Fraud Command Center.
The center operates as an ongoing department or division of a larger corporation based elsewhere. Purdue University student-workers are considered regular or part time employees as opposed to interns or Co-Op students. Hired through a temp agency to decrease the administrative burden to the company, students generally work a flex schedule of 12 to 30 hours per week with pay ranging from $15 to $20 per hour.
New technologies
Sometimes, what’s needed by growing companies is a new product or service line to complement and enhance already existing offerings. Purdue Research Foundation’s Office of Technology Commercialization assists in the protection, marketing and licensing of the university’s intellectual properties and plays a leading role in the success of Purdue’s economic development initiatives. If you are interested in learning more about technologies available for licensing from OTC or interested in Purdue’s R&D capabilities, view OTC’s database.
Business mentoring
Purdue offers significant opportunities for faculty and alumni inventors and entrepreneurs as well as Purdue Research Park-based company founders to receive advice and insight from distinguished university alumni on technical and business-related matters. The Purdue Foundry, a Purdue Research Foundation initiative located on campus in the Burton D. Morgan Center for Entrepreneurship, consults with innovators, entrepreneurs and founders, providing direct advice and making full use of its networks to identify avenues of support to growing ventures. The Foundry also connects growing companies with alumni who have relevant experience to share.
Regional Connectivity
Purdue University’s regional campuses are working to enhance connections to regional industry and to provide student connectivity to career and internship opportunities. Purdue University Northwest is creating certificate programs to address the needs of employers and students in their area. Indiana University/Purdue University Fort Wayne created the Campus to Community Connections portal that will allows employers in that area of the state to access a variety of University programs aimed at assisting businesses (through student employment, technical assistance, laboratory rentals, etc.).
