Elevate Ventures Takes Over State Program

Updated:
Elevate Ventures contributed to the round of funding. Elevate Ventures contributed to the round of funding.
INDIANAPOLIS -

The state's Small Business Innovation Research and Small Business Technology Transfer program is undergoing a realignment. The Indiana Economic Development Corp. says the program, which encourages R&D, technological innovation and commercialization, will now be fully administered by Indianapolis-based Elevate Ventures.

The IEDC and Elevate Ventures have co-managed the program since 2014. Elevate Ventures says it will have the Indiana Procurement Technical Assistance Center realign the program in an effort to increase efficiency in the grant application and evaluation process.

"Today, nearly 500,000 small businesses operate across the state, and many of these companies have received one-on-one grant counseling from the Indiana PTAC," said IEDC President Elaine Bedel. "This move allows the state to continue supporting Hoosier entrepreneurs by streamlining SBIR/STTR’s grant administration while also increasing small businesses’ access to investment capital at an earlier stage in their development."

Elevate Ventures says it will administer both advisory and funding services for innovators and businesses by providing topic identification assistance, proposal reviews, letters of support for companies seeking funding, reviewing and approving state funding matches up to $50,000, and post-funding assistance.

"Elevate Ventures is committed to providing assistance and investment capital to Indiana entrepreneurs as well as building communities focused on entrepreneurs and innovation," said Chris LaMothe, chief executive officer of Elevate Ventures. "This consolidation simplifies the assistance, application and funding distribution to ensure Indiana entrepreneurs have a gateway into a venture capital firm early on, and a partnership with a funding source that can come alongside them from ideation to exit.”

Indiana's SBIT/STTR program has awarded more than $4.5 million in matching funds to 67 companies between 2014 and 2017. Companies eligible for the program are for-profit small businesses headquartered in Indiana with fewer than 500 employees.

  • Perspectives

    • Richardson is a practice lead with Centric Consulting.

      How to Create Consistent and Positive Customer Experiences with Your Brand

      Everyone knows that keeping the consumer happy is the first priority. The importance of considering the customer’s experience in all areas of engaging with your business, not just customer service is becoming even more clear. I’m seeing an increasing number of my peers in the marketing world take ownership of the customer experience with their brands. As a result, we’re all learning how to borrow and...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall. 

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • (WISH-TV Photo)

      Clif Bar Expands Indy Bakery

      California-based Clif Bar & Co. has completed a $10 million expansion of its commercial bakery in Indianapolis. The company says the project involved a more sustainable redesign of the facility for its employee-owners with a greater focus on energy efficiency.