Startups Finding Success Through Purdue Foundry Program
Purdue-affiliated NutraMaize LLC expands its line of milled products with the addition of fine-ground corn flour (photo courtesy of Purdue Foundry)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFourteen Purdue University-affiliated startups are finding success through a new program with the Purdue Foundry. The university says the Double Down Experiment, which is designed to help startups identify and overcome challenges of launching a business, has graduated its first two cohorts.
Purdue says DDX successes from the latest cohort include a SaaS startup doubling its freemium-to-subscription conversion rate, an agriculture company increasing its profit margins by 9%, and a medical device company launching an outbound sales strategy resulting in a 36% prospect-to-lead conversion rate.
“We are incredibly proud to see the growth of the DDX startups,” said Wade Lange, vice president and chief entrepreneurial officer of the Purdue Research Foundation. “The Purdue Foundry has worked with these entrepreneurs to overcome challenges and experience high growth opportunities.”
The university says DDX focuses on experimentation and constant learning to help founding teams with next stage growth. Participants attend monthly meetups with industry experts and peers to help accelerate growth and identify new opportunities.
Purdue says Indianapolis-based Elevate Ventures sponsored the DDX program through a higher education grant. The funding supports consulting services for each DDX startup.