Tech Transfer eNews Blog

‘Double Down Experiment’ seeks to help Purdue start-ups scale up

By Jesse Schwartz
Published: January 15th, 2020

The Purdue Foundry has completed the selection of the first cohort for its Double Down Experiment (DDX) — nine businesses ready “to reach the next level” of their development – and has begun working with the start-ups. The companies were drawn from the total of 250-plus start-ups helped by the Foundry in the past six years.

The new program addresses what many tech transfer observers see as a gap in the continuum of support universities offer their start-ups. In most TTOs, once new ventures are launched, they may get some support, but many don’t, or they get to a certain inflection point and don’t reach the next level. DDX is a program specifically geared toward changing that, and bringing more support to start-ups that have exhibited good potential but which struggle to scale.

Members of the program’s first cohort were selected based on three main criteria — revenue earned, funding acquired, and full-time jobs filled, says Angela Goldenstein, director of growth for Purdue Foundry. “The Foundry, now in its seventh year, had previously proved to be successful training entrepreneurs and forming companies,” she notes. “This addresses ‘what’s next’ once they’re up and running and had some traction, to help them grow.”

The nine companies were chosen, she adds, by leadership from Purdue Foundry, in partnership with the Burton D. Morgan Center for Entrepreneurship at Purdue and Purdue’s Office of Technology Commercialization. “We’re looking for companies that have started to see traction on any of those three metrics, all of which will again be used to measure progress at the end of the program,” notes Goldenstein. “It’s designed to be a year-long program, and we will have new cohorts join every six months from then on, on a rolling basis.”

A detailed article on Purdue’s Double Down Experiment appears in the December issue of Technology Transfer Tactics. For subscription information, click here.

Posted under: Tech Transfer e-News

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