Purdue Foundry

Overview

The Purdue Foundry is dedicated to helping the Purdue Community move ideas to the marketplace through new ventures. It is located in the Burton D. Morgan Center for Entrepreneurship and is a key program of the Center. The Purdue Foundry is a part of the Purdue Research Foundation and is focused keenly on the creation of startup companies that are based on Purdue University intellectual property. In this effort, the Purdue Foundry works closely and collaboratively with the Office of Technology Commercialization and the Purdue Research Park.

Access

The Purdue Foundry serves the Purdue Community. This includes faculty, researchers, graduate students, undergraduate students and alumni. The Purdue Foundry is open during normal business hours of Purdue University, but also hosts and sponsors a variety of evening and weekend events.

Tools, Materials and Resources

The Purdue Foundry offers a number of key resources including: ideation workshops and training, entrepreneurs in residence, business-related competitions, funding resources, logo design and access to advisors and mentors. The Purdue Foundry also provides a number of social gathering opportunities aimed at networking and connecting the entrepreneurial community.

Access & Usage Costs

The Purdue Foundry serves the Purdue Community. This includes faculty, researchers, graduate students, undergraduate students and alumni. The Purdue Foundry is open during normal business hours of Purdue University, but also hosts and sponsors a variety of evening and weekend events.

Management

A team of 10 staff members including programmatic staff and entrepreneurs in residence manage the Purdue Foundry operation and service offerings.  

Training

The LaunchBox is a workshop that teaches the basics of ideation. We also offer elements of the Business Model Canvas, Lean LaunchPad, WKI and customized training. The intent is to develop entrepreneurial skills with a focus on building and executing a strategy for taking new products or services to market. Training and counsel are provided in areas such as: team building, prototype development, funding, first customers and first markets.

Use and Activity

The Purdue Foundry is an entrepreneurial hub of activity. The space doubles as co-working space for client companies and the place where workshops, meetings and activities are based. Weekly social gatherings are part of the Purdue Foundry. One gathering, Foundry Grounds, is a gathering of the entrepreneurial community where new companies pitch ideas, entrepreneurs share lessons learned and various experts share knowledge in entrepreneurial and business topics.

Culture and Community

The Purdue Foundry is in the business of building startup companies and as such is an open space that encourages our startups and entrepreneurs to interact. On a daily basis there is a mixture of entrepreneurs and startup leaders spending time with staff and each other. On a regular basis, the Purdue Foundry also hosts a community event called the Spirited Entrepreneur. This after hours gathering is an opportunity for networking amongst the regional entrepreneurial community. 

Challenges and Lessons Learned

We have had great success in our first 2 years of effort. We are always on the lookout for new mentors and leaders that could become the CEO of a new startup. Funding for startups is also of keen interest.

Advice to other Makerspaces

The key to success is providing quality programs via staff that have a passion for entrepreneurship. The staff of the Purdue Foundry are truly passionate about helping startups and leads to outstanding dedication and service to those wanting to learn more or start their company.