Indianapolis-based venture development organization Elevate Ventures has granted investment funding to two north central Indiana companies. The funding is from the organization’s Community Ideation Fund, which is used to help ideation-stage companies progress their product with an investment of $5,000-$20,000.
The organization has partnered with Startup South Bend-Elkhart to award funding to South Bend’s Frost Control Systems and Healthy Points. Frost Control Systems develops sensors to gauge road safety during winter maintenance.
“The Community Ideation Fund is by-purpose – this money allows Frost Control Systems to thrive and grow, while also improving the lives of the whole community,” said Frost Control Systems president, Bradley Tener. “I can’t even begin to explain the positive impact this support has already had on our product development and resulting manufacturing.”
Healthy Points is a healthcare technology company specializing in helping at-risk pregnant women communicate with healthcare professionals via social media.
“The Elevate Community Ideation Fund is essential in enabling Healthy Points to complete an exciting product trial with over 200 at-risk pregnant women, having the potential to save the health system over $6.5 million,” said Healthy Points co-founder, Gillian Shaw. “With a successful trial here locally, Healthy Points has the goal of reaching health systems across Indiana and the United States, which will not only save health systems billions of dollars – it will dramatically increase the quality of life for at-risk pregnant women and save lives.”
Eligible applicants include Indiana-based companies with established headquarters who have no more than $50,000 in trailing revenue over the past year. Click here for more information on Elevate Ventures’ Community Ideation Fund.