Notre Dame, High Alpha Innovation working towards ‘the greater good’
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The IDEA Center at the University of Notre Dame and Indianapolis-based venture studio High Alpha Innovation are collaborating on a new program that will help guide Notre Dame-rooted research and innovation towards commercialization. The partners say the initiative is not only about providing early-stage capital to get a product to market, but to help accelerate software startups that hope to address some of the world’s greatest challenges, like sustainability and poverty. Kelley Rich, Notre Dame IDEA Center interim vice president and associate provost for innovation, says it’s about having an impact.
“It’s to make sure that all the great research and innovations that are originating from the Notre Dame ecosystem aren’t stuck in a research lab somewhere,” said Rich. “So, they make it out into the world successfully commercialized so they can make a positive difference in people’s lives.”
The partners will create an on-campus venture studio which will be managed by High Alpha Innovation.
Rich says the investment element of the collaboration will make investment capital available to qualified startup companies originating through IDEA Center operations. The venture studio element will assist faculty, students, staff startups that have the potential to be disruptive innovation and aim to benefit worldwide needs.
“That’s the only way that we’re going to really fulfill the [IDEA Center] mission is to leverage innovation to help tackle some of the world’s greatest challenges…. for the greater good,” said Rich.
High Alpha Innovation Chief Executive Officer Elliott Parker says a properly executed startup has the power to lift people up and solve important problems.
“I am a firm believer that a well-executed startup can have a profound impact on the world,” said Parker. “Entrepreneurs solve big problems. And we need more entrepreneurs in the world, we need more of them to be successful.”
Rich says collaborating with High Alpha Innovation will not only aid the successful launch of Notre Dame’s startups and play an important role in economic development, but it will also help strengthen entrepreneurial alumni relationships and Indiana’s innovation ecosystem as a whole.