BLOOMINGTON and COLUMBUS - Indianapolis-based Elevate Ventures joined officials from Dimension Mill in Bloomington and the Columbus Area Chamber of Commerce Thursday to detail a new partnership focused on entrepreneurship and innovation in south central Indiana. The three-year effort, now known as Velocities, aims to develop "an entrepreneurship-minded culture and infrastructure."

The partnership was first announced in October. It includes up to $2.5 million in funding, including $1.5 million from Elevate Ventures and a combined $1 million from Bloomington and Columbus. The partners say the funding will support initiatives, including investments in local high-potential and high-growth businesses, portfolio services, educational events for entrepreneurs and investors, marketing support, business coaching, and a dedicated entrepreneur-in-residence.

"Tomorrow’s successful communities and regions will be those where there is a deep culture of entrepreneurism and innovation," Chris LaMothe, chief executive officer of Elevate Ventures, said in a news release. "In South Central Indiana, we will work in fueling entrepreneurs in building successful companies. These entrepreneurs can create opportunities for a rich choice of high-skill, high-wage careers and these communities can help enable the region’s ability to attract and retain high quality talent."

The partnership also named the members of the Velocities Board of Directors, which include:

  • Lynn Coyne, President of the Bloomington Economic Development Corp.
  • Pat East, Co-Founder and CEO of Hanapin Marketing and Executive Director of Dimension Mill
  • Cindy Frey, President of the Columbus Area Chamber of Commerce
  • Dave Glass, CEO of LHP Engineering Solutions
  • Rick Johnson, Jr., President and CEO of Johnson Ventures Inc.
  • Chris LaMothe, CEO of Elevate Ventures
  • Jane Martin, Retired Venture Capitalist

"Velocities will open doors for innovators and entrepreneurs in the region by bringing together accessible capital, talent and education that was not previously available," said Dave Glass, who will serve as chairman of the board. "Ultimately, innovation will drive our region forward. This partnership is pivotal in accelerating that mindset in Bloomington and Columbus, and collectively we’re thrilled to be partnering with first-class organizations to fuel a culture of entrepreneurship."

You can learn more about Velocities by clicking here.