11-03-2025
Universities are central players in the innovation economy. They do not just produce research, they generate founders, attract capital and strengthen ecosystems. Patents are important for protecting discoveries, but patents alone do not build markets. Entrepreneurship is what turns protected ideas into startups, and it is why universities are such critical sources of deal flow for venture capital. At Roll Tack Ventures, we view universities as key partners in developing the entrepreneurial talent and ecosystems that make those startups possible.
Patents, licensing agreements and other forms of intellectual property give universities the tools to safeguard discoveries and bring industry partners to the table. But economic value shows up when those discoveries are paired with entrepreneurs who can align technology with customer demand. At New Eagle, the company I co-founded and later sold, success did not come from technology in isolation. It came from execution, customer validation and financial discipline layered on top of that technology. Patents provide a foundation. Entrepreneurship unlocks their potential.
Entrepreneurial education benefits universities as much as it does students. Alumni who trace their success back to the entrepreneurial training and networks they accessed on campus often re-engage as mentors, advisors and program sponsors. Many also choose to reinvest financially, strengthening the next wave of programs and facilities. The pattern is clear. Phil Knight’s contributions to Oregon, Michael Bloomberg’s support of Johns Hopkins, and Jeff Bezos’s gifts to Princeton all grew out of entrepreneurial success. For Purdue, this cycle means today’s student founders can drive economic growth now and expand opportunities for others later.
Bringing research to market requires more than intellectual property protection. Effectuation theory shows that entrepreneurs reduce uncertainty by engaging stakeholders early. The NSF’s I-Corps program applies this by requiring more than 100 customer interviews before a concept moves forward. In my work as an I-Corps mentor, I have seen how this discipline forces startups to leave assumption-driven planning behind and replace it with evidence from real customers. That shift produces stronger companies and better deal flow.
When universities layer entrepreneurial education onto research, they create ecosystems that de-risk startups for investors. Incubators, accelerators, alumni networks and early-stage venture funds give founders the scaffolding to navigate finance, operations and governance. From my perspective as a venture capital operating partner, startups that emerge from these ecosystems come to market more disciplined, more prepared and ultimately more investable.
Startup activity still clusters in coastal hubs, but strong regional institutions change that equation. Schools like Purdue serve as anchors in areas often overlooked by venture capital, attracting investment into local ecosystems that would otherwise be undercapitalized. By bringing capital into these regions, universities broaden deal flow, diversify opportunity and strengthen the economic base where they operate.
Purdue is uniquely positioned here. Its global strength in STEM creates a constant stream of technical innovation. The Daniels School of Business adds the financial and entrepreneurial expertise to commercialize those innovations. That combination, deep technical capacity plus applied business discipline, produces startups that are both inventive and executable. It also produces graduates who know how to do more than create solutions. They know how to scale them responsibly in competitive markets.
Mary “Mickey” Swortzel, operating partner at Roll Tack Ventures and entrepreneur in residence at Purdue Ventures, is a Business Fellow at the Daniels School of Business. Fellows serve as an extension to the school’s strategy, representing the school in their industry, engaging with students, faculty and curriculum, and providing thought leadership to guide future direction. The role offers a unique opportunity to make a meaningful impact on both the school and the future of business.
