LA-based venture fund to support Purdue research, technologies, startups

LOS ANGELES and WEST LAFAYETTE, Ind. – Los Angeles-based Kairos Ventures and Purdue Research Foundation today announced a partnership to bring substantial venture funding support to Purdue University research, technologies and startups with high commercial potential.

The collaboration provides additional leverage for Purdue’s startup ecosystem and supports investments in companies commercializing Purdue’s intellectual property.

“The Kairos partnership with Purdue opens a whole new door for technologies and startups coming out of Purdue. We anticipate that this multi-million dollar collaboration will provide another strong avenue to move Purdue’s life-changing innovations to the marketplace through successful commercialization,” said Dan Hasler, Purdue’s chief entrepreneurial officer. “The funding could be used in a number of ways from pre-commercialization research projects to early-stage investments to Series A investments in companies.”

Kairos collaborates with universities by providing funding, mentorship from industry experts, and assistance with sales and marketing. Its scientific and business advisory boards also provide additional support for startups.

“Our investment goals are to build relationships with top universities that have well-established startup ecosystems, because we believe that research originating from the top minds in academia and industry have the potential to change the world,” said James Demetriades, managing partner and founder of Kairos. “Purdue University, like the other top-tier universities we partner with, is a proven leader in translating research to successful commercial endeavors. We look forward to working with Purdue-based companies from an idea all the way to positive impact on our society.”

The Kairos/Purdue partnership provides:

*Early-stage investment in incubating companies.

*Executive assistance to help guide incubation companies.

*Series A funding for companies so positioned.

*Regular reviews of available technologies and investment opportunities.

*Participation in events, entrepreneurship competitions, showcases, business plan competitions, etc.

“The Purdue Foundry, our startup accelerator, was founded in 2013 and has had great success. We recently celebrated 165 startups that raised more than $270 million,” said John Hanak, managing director, Purdue Ventures. “Even considering this tremendous accomplishment, with Purdue University’s strong pipeline of research and innovation we know there are even more untapped and available innovations that are ready to move through the commercialization channel. Our partnership with an entity as highly respected and knowledgeable as Kairos opens the door to new opportunities and possibilities.”

Purdue Ventures, a Purdue Foundry entity that manages Purdue-based funding opportunities for startups including matching funds, will provide matching investments to Kairos Ventures funding if appropriate and possible.

About Purdue Foundry

The Purdue Foundry is an entrepreneurship and commercialization accelerator in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry was co-named a top recipient at the 2016 Innovation and Economic Prosperity Universities Designation and Awards Program by the Association of Public and Land-grant Universities for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org.

About Kairos Ventures

Kairos Ventures invests in ideas, patents, and businesses from the top universities and scientists. Kairos Ventures works to translate scientific innovations into successful commercial opportunities with world-changing potential. Their team possesses an extraordinary passion to have a huge impact on our world through the creation of companies that will improve our lives and that of the generations that will follow. They aim to do this by backing the very best scientists, engineers and entrepreneurs and help them transform their knowledge, ideas and discoveries into viable businesses. They expect these companies to have a huge impact on the world and create significant returns for their shareholders. 

Writer: Cynthia Sequin, 765-588-3340, casequin@prf.org

Sources:

John Hanak, 765-588-5255, jmhanak@prf.org

Dan Hasler, 765-588-1039, djhasler@prf.org

Alex Andrianopoulos, Alex@kairosventures.com