Elevate Ventures Matching Funds for Small Tech Startups

Thursday, February 10, 2022 12:17 PM EDT
By Wes Mills

Fifteen Hoosier companies have received over $748,000 in Phase I matching funding from Indianapolis-based Elevate Ventures as part of its Small Business Innovation Research and Small Business Technology Transfer matching program. The local funding from Elevate Ventures is in addition to the $2.8 million in federal Phase 1 grants.

The SBIR/STTR programs encourage small businesses to explore their technological potential.

Phase I evaluates the feasibility and potential for research and development projects and company performance. Phase II is used to continue product development and commercialization efforts.

The Indiana SBIR/STTR program is managed by Elevate Ventures in partnership with the Indiana Economic Development Corp.

Here is the list of recipients in this round of funding:

•             AirBuoyant LLC, Anderson: Designs and builds electric aircraft.

•             AnalySwift, LLC, West Lafayette: Provides simulation software for composite materials.

•             FlightProfiler, LLC, Lafayette: Develops machine learning and quantum computing software.

•             Grannus Therapeutics, Inc., Indianapolis: Develops and commercializes innovative therapies for difficult to treat diseases including multiple types of cancer.

•             Maijker Corp., West Lafayette: Develops a unique smart monitoring system to listen to the internal sounds of machines.

•             Manufacturing Technology, Inc., South Bend: Custom-engineers friction welding and solid-state joining solutions for multiple industries.

•             OpalGenix, Inc., Carmel: Provides clinical decision-making for optimal opioid use and pain management.

•             Polar Clean, LLC, South Bend: Delivers engineered cleaning solutions in market segments including government, food manufacturing and more.

•             SIMBA Chain, Inc., Plymouth: Provides a platform for connecting applications and data to the blockchain efficiently.

•             Sisk Rifles Manufacturing LLC, Tell City: Develops a multi-axis buttstock (MABS) to increase comfort and stability.

•             Teichos Laboratories, LLC, Indianapolis: Develops immunotherapies with technology based on chemical synthesis of a natural biomolecule.

•             Third Coast Federal, Inc., South Bend: Connects the Department of Defense with entrepreneurs, faculty and innovative small businesses.

•             Trek10, Inc., South Bend: An Amazon Web Services Premier Partner that builds serverless and event-driven architectures for clients.

•             Wolf Technical Services Inc., Fishers: Multi-disciplined engineering design and product development for military, medical, transportation and industrial markets.

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