Purdue Research Foundation

Courtesy City of West Lafayette

The vacated building on the corner of State Street and Northwestern Avenue is on track to be replaced with apartments and a popular retail store.

The space – which now bears only a gutted neon sign of the bar it once housed and faded artwork featuring shadowy figures – has long been an eyesore, says West Lafayette Development Director Erik Carlson.

Stan Jastrzebski / WBAA News

Dignitaries cutting the ribbon Thursday at a new Rolls-Royce research facility at Purdue University say increased defense spending proposed in President Trump’s budget could enable growth of the school’s fledgling aerospace park.

“You know, if the defense budget goes up, I certainly hope and expect that Rolls-Royce technology will be right there with it – going up," says Rolls-Royce North America CEO Marion Blakey. "Because we do expect that we could do work right here, in West Lafayette. We could do it right here at this facility.”

City of West Lafayette

The many different moving parts of West Lafayette's State Street redesign continue to turn, but one project has been delayed by two years. 

Russell Street, on the Purdue campus, has been converted from a one-way to a two-way street as expected. And excavation work is underway to relocate a segment of Todd's Creek, just west of Airport Road. 

City of West Lafayette

As the winning bid for West Lafayette’s State Street overhaul is set to be announced, the city’s Redevelopment Commission is expressing its displeasure with the process.

In a largely symbolic 3-2 vote Wednesday, the Commission decried what it sees as a lack of transparency in the so-called “build-operate-transfer” process.

City Attorney Eric Burns tried to assuage the concerns of Board Chair Larry Oates, but Oates pounded on his desk and insisted on trying to slow down the Joint Board overseeing the project.

Purdue Research Foundation

Rolls-Royce has announced plans to build a 40,000-square foot facility at Purdue. The company is the first tenant in the university research park’s newly-established Aerospace District.

Keith Cooper / https://www.flickr.com/photos/cooperweb/8363160192

Purdue University investment officials say they’re waiting for an upswing in world stock markets to help offset some huge losses in recent weeks.

As world financial markets have been racked with instability recently, Purdue acting Chief Investment Officer Scott Seidle estimates the school’s holdings have shed 2-to-3-percent of their value. With an estimated $2.4 billion under management, that means Purdue’s wealth has declined about $60-70 million in the last few weeks.

courtesy Purdue University

The Purdue Research Foundation currently makes around $7 million per year from licenses on patents owned by Purdue staff and students.

For 2014, the school placed sixteenth on a list of all universities worldwide in terms of number of patents filed – a list PRF leaders didn’t even know existed until they were told Purdue was on it.

But as officials expand their patent protections, they say they’re not looking for the next Google on which the school can strike it rich.

The Purdue Research Foundation is partnering with Cook Medical to support life sciences startup opportunities.

Plans call for establishing a $12-million evergreen investment fund.

The Foundry Investment Fund will seek to join with other investors to fund companies based on Purdue technology or expertise in the areas of human and animal health and plant sciences.

Returns on the investments will remain in the fund for future investments.

The fundraising arm of Purdue is moving to the Purdue Research Foundation.

The Board of Trustees’ Executive Committee approved the transfer Friday afternoon.

Administrators say it will provide more flexibility and allow both the University Development Office and P.R.F. to better serve donors.

Foundation President Dan Hasler says both have similar functions, so combining the two makes sense.

Purdue University

Purdue is putting a greater emphasis on commercialization of faculty, staff and student inventions.

To help move ideas to the marketplace more quickly, the Purdue Research Foundation created the Foundry. Officials say it’s a place to transform innovators into entrepreneurs by offering advice on legal matters, market analysis and business plans.

Greg Deason, executive director, says the move brings together all of Purdue’s resources that are available for starting new companies.