The IDEA Center at the University of Notre Dame launched 28 startup companies last year. Additionally, the center said the university’s active startups raised more than $86 million in investment funding, a nearly 60% increase over the previous year.
Founded in 2017, the IDEA Center creates startups that are primarily based on inventions from Notre Dame faculty and business ideas from students. The university said at least two or three startups are generated each year from the South Bend-Elkhart community as well.
Student entrepreneurs founded 20 of the startups created last year, with six being formed through faculty inventions and two from community members.
The IDEA Center said the startups represent industries such as healthcare, artificial intelligence, blockchain, drones, education, food, travel, gaming and transportation.
“Although 2023 is likely shaping up to be a challenging year for startups, particularly as it relates to raising investment funding, we’re optimistic that the foundational work and growth our startups have experienced will set the stage for their future advancement,” Kelley Rich, interim vice president and associate provost for innovation at Notre Dame, said in written remarks.
The new companies bring the number of active university startups to 96. All of the active startups reported total product sales of $136 million in 2022, marking a 1,394% year-over-year increase.