Bob Coy has been named the first president and chief executive officer of 16 Tech. The 60-acre innovation community near IUPUI is billed as a transformational development in Indianapolis’ bid to attract talent. Coy most recently served as CEO of Ohio-based venture development organization CincyTech, which pumped more than $680 million into 70 different startups during his nearly 12 years at the helm. 16 Tech Community Corp. also announced a $2 million grant from the Indianapolis-based Richard M. Fairbanks Foundation, to fuel efforts to attract top talent to the development.

Before joining CincyTech, Coy worked as senior vice president for entrepreneurial development and economic development at the St. Louis Regional Chamber and Growth Association. There, he co-founded the St. Louis Arch Angels, which is a group of individuals who invest in early-stage St. Louis-area companies.

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