Purdue Research Foundation, Techshot partner to accelerate development of emerging technology companies

Officials from Purdue Research Foundation and Techshot Inc. announced Friday that they will partner on a program designed to accelerate the development of emerging technology companies by leveraging Techshot's unique technology commercialization capabilities.

“The foundation and Techshot have a proven track record in providing entrepreneurs with the essential facilities and services to be successful”

Purdue Research Foundation, which manages the four-site Purdue Research Park network, and Techshot, a product and technology development company in Greenville, Ind., will coordinate specific technology assessment, product development, Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) services to assist Purdue Research Park-based entrepreneurs.

"The foundation and Techshot have a proven track record in providing entrepreneurs with the essential facilities and services to be successful," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. "Our goal is to expand the services even further by collectively providing more opportunities to entrepreneurs, and, in turn, promoting the growth of high-tech companies in Indiana."

These services will complement the existing slate of advisory services available to Purdue Technology Center companies through its Purdue Portals program. Together, the enhanced service offerings are intended to accelerate new business growth by creating links between product research and commercial application.

As part of the partnership, officials from Techshot will have office space in the Purdue Research Park of Southeast Indiana and may eventually have office space in the Purdue Research Park locations in Indianapolis, West Lafayette and Merrillville. Techshot's first spin-off, a medical device company called IKOTECH, was the first to move into the Purdue Technology Center of Southeast Indiana in New Albany.

"For 12 years, we have been in the business of helping entrepreneurs succeed, specifically focusing on research and development, design reviews, feasibility studies and prototyping," said Mark S. Deuser, co-founder and president of Techshot. "The partnership between Techshot and Purdue Research Foundation is unique in the sense that we are both in business to help other businesses. With that common goal, we anticipate that we will be able to move forward quickly with commercializing new technologies and getting new products to the public faster."