"Big ideas don't change the world until they go to market."
As a favorite Krannert expression, this quote resonates strongly with those who have world-changing ideas but lack the business resources that ensure their implementation. In the case of one Krannert affiliated start-up, these realities are reaching new heights- launching close to home, and even outer space.This past weekend Adranos Energetics LLC, a Purdue University start-up led by Purdue PH.D. In Aeronautics and Astronautics Dr. Brandon Terry and 2nd year MBA student Shane McGuire, came one step closer to making their business idea a reality.
On Saturday, Adranos took home first place and $25,000 at the University of Oregon New Venture Championship for their business proposition for high performance, clean rocket fuel for Aerospace and Defense industries that virtually eliminates hydrochloric acid production and increases total propulsion power.
The competition took place in Portland, Oregon, where teams from around the world and the United States had the opportunity to present and defend their business plans to a panel of esteemed judges for valuable feedback and a chance to win cash prizes.
This victory comes on the heels of another win at the 2016 University of Nebraska, Lincoln Global New Venture Competition, which awarded the team with a $10,000 prize. Additionally, Adranos recently won Purdue's Burton D. Morgan Business Plan Competition.
Not only will U.S. soldiers have a direct competitive advantage with less maintenance and safer launches, the only byproduct produced by this new fuel is lithium salt, a common ingredient found in most depression medications, which does not negatively impact the soldiers or environment.
When asked how their current and future earnings will be spent, McGuire offered the following statement:
"Most of the funding will be dedicated to business development activities such as: fundraising, marketing, and establishing customer relationships.”
Adranos work has been conducted with Government support under and awarded by DoD, Air Force Office of Scientific Research, National Defense Science and Engineering Graduate (NDSEG) Fellowship, 32 CFR 168a. The authors would also like to acknowledge funding provided by both the Purdue Forever fellowship and AFOSR MURI contract (#FA9550-13-1-0004) with Mitat Birkan as Program Manager
For more information about McGuire's involvement with Adranos Energetics LLC, please click here.
For more information about the Oregon New Venture Championship, please click here.