Purdue ag, research foundation create $2M crop startup fund

WEST LAFAYETTE, Ind. (AP) – Purdue University has created a $2 million fund that will help launch startup companies working to commercialize crop-boosting innovations developed by Purdue researchers.

The fund announced Thursday is called the “Ag-celerator” and is a joint project of Purdue’s College of Agriculture, the Purdue Research Foundation and the Purdue Foundry.

Money from the fund will go toward fledgling startup companies seeking to commercialize Purdue plant sciences innovations such as developments that can improve crop traits and boost yields.

Individual startups can obtain up $100,000 each from the fund. The money will be awarded on a competitive basis by an investment-review committee.

The Ag-celerator program will also support two entrepreneur-in-residence positions in the Purdue Foundry who will work directly with Purdue innovators to help commercialize plant sciences innovations.