An Evansville company is one of several startups getting a helping hand from Purdue University. Heliponix is getting an $80,000 cut from the Elevate Purdue Foundry fund.
It’s a partnership between Elevate Ventures and the Purdue Foundry an entrepreneurship and commercialization accelerator. The money will go toward things like market research, product development, and prototype creation. Elevate Purdue Foundry Fund invests more than $500,000 to 11 startups to help advance companies.
The company has invested more than a half-million dollars in 11 Purdue University startups to help them advance their companies, including five companies each receiving $80,000 for achieving “Gold Award” investment status. Heliponix was one of those companies awarded.
The startups were selected by the Elevate Purdue Foundry Fund’s Investment Committee.