Notre Dame Doubles Down With $25M Fund

Posted: Updated:
In an interview on Inside INdiana Business with Gerry Dick, Ritchie talked about Notre Dame’s increasing engagement in economic development. In an interview on Inside INdiana Business with Gerry Dick, Ritchie talked about Notre Dame’s increasing engagement in economic development.
SOUTH BEND -

The University of Notre Dame is continuing to put its considerable reputation and influence to work around innovation and entrepreneurship, and Indiana is benefiting. The world-class research institution is this week announcing the creation of a $25 million fund that will target innovative ideas and companies. The school is expected to release details on the effort this week. "This is really groundbreaking for a university as a general (partner), very few actually run a fund as a general partner, which is what we will be doing, which will allow us to invest in these companies," said Bryan Ritchie, Notre Dame's vice president and associate provost for innovation.

In an interview on this weekend's edition of Inside INdiana Business with Gerry Dick, Ritchie talked about Notre Dame’s increasing engagement in economic development.

The launch of the fund continues momentum that has been building at Notre Dame around efforts to help grow the regional and state economies.

"For Notre Dame to really accomplish its mission and goals, it needs the community to transform, and we're trying to create an ecosystem that will drive economic growth and development far into the future," said Ritchie, who points to numerous examples of momentum in recent months.

Last month, the university's IDEA Center announced it had surpassed its goal for launching faculty and student startups companies in its first year of operation. The university says a total of 27 startups were created between July 2017 and June 2018, topping the original goal of 16.

Notre Dame says the number of new startups nearly equals the total amount launched by the university in its entire 175-year history prior to 2017. The university's previous single-year record for new startups was three, in 2016.

One of the companies housed at the center, Trion Coatings LLC, just landed an investment from North Carolina-based Nucor Corp. Trion has developed an environmentally-friendly chrome plating process in partnership with Notre Dame faculty.

Also, leadership at Notre Dame played critical roles in the region's winning Regional Cities Initiative bid, which includes dozens of projects totaling more than $735 million, including a transformation of South Bend’s former Studebaker buildings and improvements to Ignition Park.

  • Perspectives

    • Big Data's Role in Site Selection

      In the world of site selection, companies assess the pros and cons of various factors to identify the location that best fits their current and future business needs. The list may seem endless: labor availability, utility needs and costs, real estate options, tax climate, incentives, quality-of-life considerations, even an area’s weather patterns and the likelihood of natural disasters. With the emergence of big data and the use of data analytics in all facets of business...

    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

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • 'Heartbreaking' End For Nashville House

      The 91-year-old Nashville House restaurant is closing. The Brown County family dining staple will serve its last meal at the end of the month. In a post on Facebook, Gina Sarah Rogers, daughter of late-owners Andy and Fran Rogers, said it is "the end of an era and very heartbreaking." The restaurant is known for its country-style fried chicken and ham meals. Business on the property dates back to the late-1860s when an inn opened. It was acquired in...

    • High Alpha Spawns Tenth Tech Startup

      The first company has launched from Indianapolis-based High Alpha since the venture studio received a $100 million infusion in July, and the tenth overall. Anvl develops software designed to reduce and prevent maintenance service industry injuries. The company is led by Hoosier tech scene veteran Robin Fleming, who previously served as vice president of technology for Angie's List before its acquisition by New York-based IAC (Nasdaq: IAC). Anvl was born out of a first-of-its-kind...

    • (Image courtesy of Endocyte)

      $2.1B Endocyte Deal a Record-Breaker

      A veteran of Indiana's life sciences industry says the proposed blockbuster sale of West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) is good for the ecosystem in the state. Switzerland-based Novartis AG has signed an agreement to acquire Endocyte for $2.1 billion, which BioCrossroads Project Director Brian Stemme says is "by far" the largest-ever acquisition of an Indiana life sciences company. The deal still faces regulatory and shareholder hurdles.

    • The MedTech Park would include a medical office building to house Central Indiana Orthopedics' Fishers operations.

      Construction on MedTech Park to Begin

      Officials in Fishers will Friday break ground on the first portion of the $13 million MedTech Park project. Muncie-based Central Indiana Orthopedics, which first proposed the development more than two years ago, says construction will begin on a 50,000-square-foot medical office building.