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.