INDIANAPOLIS - Elevate Ventures has another target in its mission to develop entrepreneurs and innovators statewide. The venture development organization says it will invest $1.5 million to match $1 million to be raised locally to grow entrepreneurship in southeast Indiana. "That's a very interesting area of the state," said Elevate Chief Executive Officer Chris LaMothe, noting about 70 percent of the region is across the river in Kentucky, creating a mutually beneficial scenario. "If the Kentucky side grows, it's great for Indiana and if the Indiana side grows it's great for Kentucky," said LaMothe.

In an interview on Inside INdiana Business Television, LaMothe called entrepreneurship and innovation "the next holy grail for Indiana."

The southeast Indiana partnership is the latest in a series of statewide entrepreneurship support deals for Elevate Ventures. Last week, the organization announced an extension of an earlier agreement with the Northeast Indiana Regional Partnership valued at $2.5 million. Similar partnerships are also in place with Startup South Bend Elkhart, 1804 in south central Indiana and the Economic Development Coalition of Southwest Indiana.

Watch the full interview here: