Indiana
State Resources
Indiana is home to the world-famous Indianapolis 500 and has earned the title of “Racing Capital of the World”. It is home to Purdue University, a top-tier research institution known for engineering and space exploration, as well as the Naval Surface Warfare Center, Crane. Given its’ location, Indiana serves as a critical link for transportation and logistics and has the highest concentration of manufacturing jobs in the U.S. The mission of the Indiana Economic Development Corporation (IEDC) is to grow the state’s economy, drive economic development, and help businesses launch, grow, and locate in Indiana. The IEDC has a wide variety of initiatives for advanced technology firms including matching grants for Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR up to $50,000 for Phase I and up to $75,000 for Phase II awards).
Applied Research Institute (ARI) Innovation Vouchers
The Applied Research Institute (ARI) Innovation Vouchers provides small businesses conducting research with Indiana universities or non-profit research centers with up to $50,000 in matching funds to cover the cost of services from eligible research providers, including research and development, technology exploration, technical development, product development, and commercialization.
Indiana Technical Assistance Program
Indiana Technical Assistance Program (INTAP) is an annual program that assists Indiana small businesses with growth and improvement projects by providing up to $15,000 in services from a qualified professional and technical vendor. Eligible projects include, but are not limited to product prototyping, inventory control systems, app or technology development, intellectual property legal assistance, and grant writing assistance for the SBIR/STTR programs.
Indiana Seed Funds
Managed by BioCrossroads, Indiana Seed Funds is an initiative of the Central Indiana Corporate Partnership (CICP) that provides early-stage investment for biotechnology, pharmaceutical, medical device, diagnostics, ag-biotech, and health information technology products and platforms.
State Small Business Credit Initiative (SSBCI)
Indiana invests in pre-seed and seed funding rounds through the State Small Business Credit Initiative (SSBCI) via Elevate Ventures, Indiana’s venture development partner. These funds are intended to accelerate Indiana’s innovative startup ecosystem, and are invested in Indiana-based companies through the Indiana Angel Network Fund, alongside co-investors.
