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>> HELLO AND WELCOME TO INSIDEINDIANA BUSINESS.I'M GERRY DICK.THE INDIANA ECONOMIC DEVELOPMENT

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CORPORATION NAMED IAN STEFF ASTHE STATE'S FIRST CHIEFINNOVATION OFFICER.PART OF HIS JOB WILL BE LETTING

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INNOVATORS KNOW INDIANA HASTHEIR BACK FOR THE NEXT 10 YEARSAND BEYOND TO PROVIDE TOOLS NEEDTODAY TAKE THEIR IDEAS TO THE

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NEXT LEVEL.FOR MORE ON WHAT HIS VISION ISAND WHAT'S ON HIS AGENDA, I'MPLEASED TO BE JOINED NOW BY IAN

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STEFF.WELCOME TO THE PROGRAM.>> THANKS, GERRY.>> GOOD TO SEE YOU.

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>> GOOD TO SEE YOU.>> YOU KNOW, WHEN I FIRST SAWNEWS OF THIS CHIEF INNOVATIONOFFICER, IT'S A TERM WE HEAR IN

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JOBS IN THE PRIVATE SECTORINCREASINGLY, ESPECIALLY IN TECHCOMPANY, NOT SO MUCH INGOVERNMENT AT THE STATE LEVEL.

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TALK ABOUT WHAT YOUR JOBESSENTIALLY IS GOING TO BE ALLABOUT.>> WELL LOOK, GERRY, FIR AND

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FOREMOST, A PLEASURE TO BE ONTHE SHOW.SECONDLY, WHEN I CAME TO THESTATE ABOUT THREE YEARS AGO, I

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LOOKED AROUND THE STATE AND ISAW BILLION DOLLAR IDEAS,BILLION DOLLAR INDUSTRIESOCCURRING IN INDIANA.

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AND ESSENTIALLY WHAT WE'VE DONEOVER THE LAST COUPLE OF MONTHSAS WE DEVELOPED THIS BILLIONDOLLAR INITIATIVE INTRODUCED BY

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GOVERNOR PENCE, AS YOUSUGGESTED, WAS TO TAKE A LOOK ATHOW DO WE DEVELOP THE NEXTBILLION DOLLAR IDEA ALONGSIDE

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INDUSTRY.>> LET'S TALK ABOUT THAT.THIS IS A BILLION DOLLAR PLAN,HAS MULTIPLE ELEMENTS, SOME OF

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WHICH NEED APPROVAL BY THEGENERAL ASSEMBLY, BUT IT REALLYIS FOCUSED ON ENTREPRENEURSHIPAND INNOVATION, IT TOUCHES ON

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VENTURE CAPITAL, THE PRIVATESECTOR.HOW IMPORTANT IS PRIVATE SECTORPARTICIPATION IN THIS

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INITIATIVE?>> WELL, IT WILL ABSOLUTELYDETERMINE SUCCESS OF THISINITIATIVE.

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INDUSTRY HAS TO BE DRIVING THISTRAIN, INNOVATION ANDENTREPRENEURSHIP IS WHERE THISWILL BE TAKEN TO THE NEXT LEVEL

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IN TERMS OF INDUSTRY.INDUSTRY WILL BE LEADING THESEPUBLIC-PRIVATE PARTNERSHIPSALONG OUR GREAT RESEARCH

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UNIVERSITIES AND COLLEGES WHEREINNOVATORS ARE CONSTANTLY COMINGUP WITH NEW IDEAS TO BRING TOTHE MARKET.

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>> AS AN EXAMPLE, PART OF YOURHISTORY, YOUR BACKGROUND, IS INNANOTECHNOLOGY.AS WE WERE TALKING OFF CAMERA,

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BOTH PURDUE AND NOTRE DAME AMONGOTHERS HAVE TREMENDOUS STRENGTHSIN THAT AREA.IS NANOTECHNOLOGY AN AREA WHERE

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YOU CAN SEE SOME REAL POTENTIALGROWTH IN THE STATE?>> ABSOLUTELY.I DID GROW UP IN THE

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SEMICONDUCTOR INDUSTRY, SPENT AGREAT DEAL OF TIME FORMINGPARTNERSHIPS ALONGSIDE SOME OFTHOSE INDUSTRY LEGENDS AND A LOT

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OF THOSE PARTNERSHIPS TOOK PLACERIGHT HERE IN INDIANA.I THINK OVER THE LAST SEVERALYEARS, $50 MILLION OF CORPORATE

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MONEY IS HEADED IN TO THESEUNIVERSITIES AND THAT SHOULDSUGGEST SOMETHING, IT SUGGESTSTHAT INDUSTRY KNOWS THE NEXT BIG

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IDEA IN THE NANOTECHNOLOGYSECTOR IS GOING TO HAPPEN ININDIANA.>> TALK ABOUT THE TIMING OF YOU

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TAKING THIS NEW ROLE COUPLEDWITH THE MOMENTUM IN THE TECHINDUSTRY THAT WE SEE STATEWIDE.COWORKING SPACES.

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THREE YEARS AGO I THINK THEREWAS MAYBE ONE OR TWO, NOW THEREARE MORE THAN 50.TALK ABOUT MOMENTUM AS YOU SEE

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IT AND WHY THE TIMING OF THIS ISIMPORTANT IN TERMS OF THATECOSYSTEM THAT SUPPORT SYSTEM IFYOU WILL.

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>> LOOK, IT'S A VERY EXCITINGTIME TO BE IN INDIANA, NOT ONLYIN THE TECH SECTOR BUT THE LIFESCIENCES SECTOR, IN THE ADVANCED

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MANUFACTURING SECTOR.WE HAVE THOSE IDEAS OUT THEREAND THOSE ENTREPRENEURS NOW HAVENEW SPACES TO WORK TOGETHER WITH

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FELLOW PEOPLE, I THINK AS WELOOK AROUND, YOU KNOW, WE ARE --ARE TITANS IN THE AEROSPACEINDUSTRY, IN THE AUTO INDUSTRY.

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WHAT'S VERY INTERESTING TO MEAND WHERE I'M GOING TO BESPENDING SOME OF MY TIMEIMPLEMENTING THE BILLION DOLLAR

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INITIATIVE IS LOOKING AT AREASOF CONVERGENCE.IF YOU LOOK AT PURDUE, I.U.,NOTRE DAME, S.I., THEY'RE

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LOOKING AT THE INTERSECTIONINGOF THE BIOLOGICAL SCIENCES, THELIFE SCIENCES, THE PHYSICALSCIENCES, AND I'LL TELL YOU,

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THAT DISTINCTION IS BECOMING ALOT LESS CLEAR IN SOME OF THOSECONVERSATIONS.I LOOK AT A WORLD THAT HAS CHIPS

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AND A WORLD THAT DOES NOT HAVECHIPS.WE TALK ABOUT THE INTERNET OFTHINGS, THOSE THINGS ARE BEING

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MADE HERE IN INDIANA.>> ALL RIGHT.IAN STEFF IS THE NEW CHIEFINNOVATION OFFICER, MARRIED A

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LADY FROM FISHER SO WE'RE GLADTO HAVE YOU HERE, LOOK FORWARD