IU Ventures, the venture capital arm of Indiana University, has presented three alumni with the inaugural Spirit of Venture Award, including two from Indianapolis-based Elevate Ventures. The organization says the award “celebrates the spirit of entrepreneurship and innovation” across the IU community.
The two winners from Elevate Ventures are Cy Megnin, entrepreneur-in-residence and Ting Gootee, chief investment officer. The third winner is Jackson Boyar, co-founder and chief executive officer of Boston-based Mentor Collective.
IU Ventures says the winners were recognized for exhibiting success in entrepreneurship, providing mentorship and demonstrating noteworthy philanthropy and service to IU.
“Indiana University was the spiritual catalyst to many stages of my entrepreneurial journey, and this award only further cements my gratitude to my alma mater,” said Boyar.
The venture arm assists IU students, faculty, staff and alumni in work that advances high-potential new venture opportunities. It operates multiple programs that supports entrepreneurs, early-stage startups and investors, including the Quarry, IU Philanthropic Venture Fund and the IU Angel Network.
“Indiana University has a rich history of supporting innovation-driven startups and successful founders with IU DNA,” said Gootee. “As an IU alum, I am excited about IU Ventures’ focus on founders and funders in addition to its services to a broad contingency.”
The new award will be presented annually.