IDEATION

START SOMETHING

The Purdue Foundry is the on-campus resource for students or faculty to commercialize ideas or products. Research, local & national business ideas, products and more can be commercialized with the guidance of the Purdue Foundry.

FIRESTARTER

The overall goal of Firestarter (formerly LaunchBox) is to help inventors/founders find the value proposition of their idea. What does that mean exactly? Many faculty and students come to us with just an early-stage idea and it is our job to help them identify the value of that idea. One of the ways we do this is through Firestarter. The program gives clients the opportunity to explore potential markets, customers and financial models. At the end of the process, each member has the necessary information to decide if there is value in the idea and if it makes sense to continue moving forward.

COMMUNITY

In addition to the ecosystem, the Foundry hosts events by entrepreneurs for entrepreneurs tailored toward helping you achieve entrepreneurial success. Our Friday morning Foundry Grounds features networking, a speaker presenting their “Lesson Learned” and a practice pitch for Foundry startups. Once a month we host an evening of networking at the local 9 Irish Brothers for startups, mentors, investors and more. Appetizers and introductions are provided! View our calendar for more events.

Calendar

PLANNING

BUSINESS MODEL

Building and validating a client company business model is a key early activity after Firestarter. The EIR guides the client company through customer interviews to develop a final business model with all nine sections of the Business Model Canvas validated. This document then serves as the foundation from which the final business plan is created. Entrepreneurs can also increase their chances of receiving an NSF SBIR/STTR by completing the national I-Corps program. There are several options available for this learning: 6-week short course, semester-long course, or national program.

ENTREPRENEUR IN RESIDENCE (EIR)

The Foundry deploys Entrepreneurs in Residence to advise client companies through the development of a commercialization plan. The EIR is an experienced entrepreneur with both, industry and management experience. They have led startup companies and understand the steps needed to develop a sustainable business model. EIRs also insure Foundry resources are available to the startup company.

MBA

The Foundry has available a strong team of MBA students from the Krannert School of Management. These students are a valuable resource for client companies. The MBA team conducts market and industry analyses, develop competitive company profiles, evaluate go to market strategies and build financial models to support client company business plans.

LEGAL

Several law firms connected to the entrepreneurial community provide pro-bono and reduced fee services to Foundry client companies. These firms specialize in corporate formation and documents, intellectual property protection and immigration issues.

GRANT WRITING

Grants are a powerful source of non-diluting funds for startup companies, thus, SBIR and STTR grants are specifically designed to support startup companies. The Foundry provides our client companies with a grant writer to help write, organize and submit Phase I grant proposals. These writers are experts in SBIR/STTR grant writing and have experience in to what makes a successful proposal.

EXECUTION

LAUNCH

"A good plan, violently executed now, is better than a perfect plan tomorrow.” – Gen. Patton. Whether you’re a startup founder, talent from industry, or a potential investor, you play an integral role as we launch new startups out of the Foundry.

FUNDING/INVESTMENTS

We at the Foundry know that in order for our client’s innovations to move from being an idea to a commercialized product it takes capital resources. We have worked diligently to be able to provide these resources, with funding and investments ranging from $20,000 to $300,000.

TALENT

Whether you’re the CTO of your startup looking for a CEO, or the CEO looking for an Advisor or First Employee, we leverage our network to help you build a winning team. Are you someone with industry knowledge and experience and interested in joining a high-tech startup? Reach out to us!

SUPPORT & SERVICES

The Foundry offers a variety of support for entrepreneurs throughout the thriving Purdue entrepreneurial ecosystem. Mentors, staff, legal council and a vast collection of Purdue alumni all work together to move you from ideation through and beyond execution. We also provide services for members of the Foundry including logo design, co-working space, educational opportunities, networking events, pitch critiquing and more.

WE MAKE YOUR IDEAS HAPPEN