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Rose-Hulman Ventures Celebrating 15 Years of Delivering Innovative Engineering Solutions
November 10, 2014
Unique Technology Model: Rose-Hulman Ventures differentiates itself by balancing top-quality learning experiences for students with business value for clients, and allowing clients to keep commercial rights to project-related intellectual property. (Photos by Chris Minnick)
Rose-Hulman’s design and product development operations, Rose-Hulman Ventures, is celebrating 15 years of delivering technology-based solutions that yield industry results and address real-world business challenges.
Founded in 1999 with Lilly Endowment Inc. support, the engineering consulting business has worked with 170 client partners on innovation-based projects for a variety of industry sectors. More than 990 student interns have worked in the 35,000-square-foot facility on Rose-Hulman’s South Campus with professional-level laboratory equipment, engineering tools, machine shops, and workspaces.
“Rose-Hulman Ventures differentiates itself from other university incubators and centers of excellence by balancing top-quality learning experiences for students with business value for clients, and allowing clients to keep commercial rights to project-related intellectual property,” says Elizabeth Hagerman, PhD, vice president for Rose-Hulman Ventures.
Innovative engineering solutions developed for clients across Indiana, as well as with companies that have regional, national, and global operations include:
FAST BioMedical: Rose-Hulman Ventures has helped this private, Indiana-based clinical stage medical technology company develop technology for quantifying volume status and kidney function in a clinically actionable timeframe. FAST BioMedical completed its Phase I trial in Germany and is currently enrolling a Phase II trial in the United States.
Precision Planting: Agricultural data collection tools have been developed to help farmers reach their best yield. One device uses an iPad application to document the distance between freshly sprouted cornstalks -- collecting more than three million data points during the past two years from fields across Texas, Louisiana, Kentucky, Illinois, and Iowa.
Remy: A system was designed to test different alternator frequency ranges that helped the company design methods for engines and alternators to interact more effectively. This productive relationship has also been a success for Conexus Indiana, an initiative designed to capitalize on emerging opportunities in advanced manufacturing and logistics and align resources and expertise to make Indiana a leader in these industries.
GlasCol: As one of Rose-Hulman Ventures’ first clients, student interns have aided in the development of multiple high quality lab products to support the Terre Haute company’s mission to be a worldwide leader in the field of laboratory products and industrial heating and mixing equipment.
Providing top-quality engineering talent at a competitive cost, Rose-Hulman Ventures has also assisted in developing products for NICO Corporation, Simma Software, and General Electric Power and Water. Projects generally last three to nine months and are supported by teams of two to six people, including student interns and a project manager who is an engineer and industry veteran.
Rose-Hulman Ventures was established and later expanded with grants totaling $55 million from Lilly Endowment Inc.