2024 was another banner year for Purdue Research Foundation. From the largest single economic development in the history of Indiana to record-breaking growth across all entrepreneurial efforts to all the world-changing innovations going from research to commercialization, PRF is proud to support Purdue in its land-grant mission each and every year.
Here are 24 Purdue-connected stories that mark just some of the giant leaps taken in 2024:
SK hynix announces semiconductor advanced packaging investment in Purdue Research Park
On April 3, SK hynix announced that it plans to invest close to $4 billion to build an advanced packaging fabrication and R&D facility for AI products in the Purdue Research Park. The development of a critical link in the U.S. semiconductor supply chain in West Lafayette marks a giant leap forward in the industry and the state. That news was followed by a U.S. Department of Commerce announcement in August of a $450M grant and $500M loan to SK hynix’s AI memory chip facility in the park.
President Edelman announces retirement, economic development leader Pittman to take his place
Chad Pittman has been named president and CEO of PRF, effective Feb. 1, 2025. Pittman succeeds Brian Edelman, who served as president since spring of 2017. Edelman announced his retirement in August 2024.
“I am honored to take on the next chapter of my time with Purdue Research Foundation,” Pittman said. “Over the past decade, I have been privileged to serve with a talented team of individuals to attract and support world-class partners. Together we will build on our success and increase our contributions to Purdue University, the state of Indiana and the wider world by fulfilling Purdue’s land-grant mission.”
Purdue’s entrepreneurial ecosystem undergoes record-breaking growth in 2024
Since the creation of Purdue Innovates in 2023, the comprehensive system has worked to streamline access and strengthen support to technology commercialization and startup support resources. An increase in intellectual property disclosures, patent issued, and patent licenses to programming like the Trask Innovation Fund, student startup Moonshot Pitch Challenge, and more, the push to provide top-tier resources for entrepreneurial activities in Indiana is paying off.
Purdue University Airport welcomes daily commercial flights, new Amelia Earhart terminal
2024 was a massive year for LAF and its impact on aviation innovation and economic development in Greater Lafayette and the state of Indiana. Daily commuter flights to and from Chicago O’Hare began this May. The FAA awarded LAF a $1.5M grant for the new Amelia Earhart Terminal in October. (And speaking of Earhart: in January, explorers announced they believed they found Earhart’s PRF-funded plane!)
Boilermaker research demonstrates excellence at scale: Purdue ranks 4th in U.S. for U.S. patents received in 2023
No matter their area of expertise, Purdue researchers persistently pursue solutions to real-world problems, changing lives every day with innovation and commercialization. Purdue received 201 patents from the U.S. Patent and Trademark Office during the 2023 calendar year. The University of California system, MIT, the University of Texas system and Stanford also ranked in the top five. Purdue is the only Big Ten university ranked in the top 10.
Giant leaps in innovation
Purdue researchers across colleges and disciplines consistently produce excellent research at scale. Explore some of the most high-impact discoveries announced in 2024:
- Researchers develop super-absorbent material from hemp that could revolutionize diapers: ‘We are passionate about the potential’
- Researchers create orientation-independent magnetic field-sensing nanotube spin qubits
- ‘Hydroponics for mushrooms’ technology will revolutionize the $50B/yr mushroom market
- This Indiana highway can wirelessly charge electric cars and trucks as they drive
‘Like a hand fitting into a glove’: Purdue-engineered compound designed to treat drug-resistant acute myeloid leukemia
Researchers at Purdue University’s College of Science have developed a patent-pending compound called HSN748 to treat drug-resistant acute myeloid leukemia (AML).
- Researchers patent revolutionary process to stop air pollution at its source: ‘This technology will lead to a more sustainable future for all of us’
- Purdue innovations detect lead exposure faster, easier and with greater precision at the point of care
- Engineers fabricate ultrastrong aluminum alloys for additive manufacturing (subscription required)
Semiconductors at Purdue
Alongside the historic SK hynix announcement in April, Purdue continues its persistent pursuit of semiconductor excellence as part of the Purdue Computes initiative.
Cunningham Restaurant Group to open farm-to-table restaurant in Purdue’s Discovery Park
The restaurant will occupy part of the century-old Beck Barn in the heart of Discovery Park District. While the menu is still being developed, it will highlight CRG’s commitment to “local is best” and unforgettable guest dining experiences. As of 2024, Squirrel Park is being prepared to welcome the historic Beck Barn with a slated open date by the fall of 2025.
Funding and commercialization
PRF works to manage and protect the intellectual property developed at Purdue along with funding research and promoting entrepreneurial activities around this IP. In 2024, many exciting innovations were funded and commercialized through the work of Purdue Innovates. Here are a few of those innovations:
- Purdue Innovates Startup and Technology Expo 2024
- Returning rare earth element production to the United States
- The future of autonomous aerial vehicles? Robust partnerships, say Purdue-connected startups
Biotech company Eradivir closes $10.25M Series A funding round to complete Phase 2a study of influenza therapeutic
Eradivir, a preclinical biotech company that develops antiviral therapeutics, has completed a $10.25 million Series A funding round. The funding will be used to conduct a Phase 2a challenge study of its EV25 influenza treatment, which consistently outperforms the current standard of care.
Media contact: Polly Barks, phbarks@prf.org
