General Electric (GE) will lend its tech commercialization group to Purdue University innovations as part of a new partnership announced today. Purdue’s medical diagnostic imaging and biological testing technologies are already under consideration for development through the partnership.
Historically, GE has hired more Purdue grads than grads from any other university in the world, Tony Denhart, Region Manager, University Relations, said in a press release.
“An agreement like this can be a game-changer. This tests a new model of collaboration and lays the groundwork for advancing the way universities commercialize innovations,” Dan Hasler, president and chief entrepreneurial officer of the Purdue Research Foundation, said in the release. “It’s more than providing novel technologies that have a promise of commercialization, because innovation leaders from GE and Purdue will meet on a periodic basis to discuss strategies and forward-thinking, value-added objectives derived from university-based research.”
What inspired the partnership?
In 2011, Purdue, GE Healthcare and the University of Notre Dame partnered on the development and commercialization of a CT scanning reconstruction technology called Veo. . . that enables physicians to diagnose patients with high-clarity images at previously unattainable low radiation dose levels.
Veo‘s quick and successful commercialization process seems to have deeply developed the relationship.
“The successful partnership to commercialize a novel digital CT scanning technology has answered a critical need in health care to provide dose optimized scans and extraordinary image clarity for health care providers,” Charles Bouman, professor of electrical and computer engineering plus professor of biomedical engineering at Purdue, said. “I credit GE for moving this medical device to the public so quickly, and hopefully the agreement with GE will help us identify more examples like Veo.”
The deal also considers developing “advanced propulsion technologies, solar technologies (and) energy recovery technologies.”
For another example of business model innovation in university tech transfer centers, check out this feature on the Arizona Furnace.