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On behalf of Purdue, the Research Foundation: 1) manages gifts, bequests and endowments; 2) makes funding available to faculty, staff and students to aid in scientific investigation, research or educational studies; 3) acquires, constructs and improves Purdue's facilities, grounds and equipment; and 4) manages intellectual property developed at Purdue. In 2008, the Purdue Research Foundation introduced the Emerging Innovations Fund, an integrated approach to research innovation, development and commercialization. A partnership between the Purdue Research Foundation and the Burton D. Morgan Center for Entrepreneurship, the Emerging Innovations Fund is an initiative that brings together ideas, management and money accelerate the commercialization of early-stage technologies in the Purdue community. New ventures formed by Purdue faculty, staff and students that are based on Purdue discoveries and Purdue Research Park companies are eligible to apply for development funding in amounts from $20,000 to $150,000. Funding can be used to develop prototypes, perform critical commercially-relevant development, and improve the probability of attracting the next level of funding. With four locations, the Purdue Research Park network has sites in West Lafayette, Indianapolis, Merrillville and New Albany. The park network has more than 260 companies that employ about 4,500 people. A 2011 independent study reports that the park network provides an annual economic impact of $1.3 billion to the State of Indiana. Between 1999 and 2010, $256 million has been invested in facilities and infrastructure for the park network.
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