Innovation & Entrepreneurship

Venture Development

All growing businesses need a place to start.

Indiana’s venture development programs are designed to help high-potential, high-growth Hoosier companies gain the capital and guidance they need to be successful. 

Through Elevate Venture–Indiana’s venture development organization–Hoosiers (and people interested in growing their business in Indiana) have access to funding, startup programs and some of the brightest minds in the Midwest. In 2016, Elevate Ventures committed to invest in 74 high-potential companies. These investments, which are designed to leverage private investment, will yield up to $47.3 million in state, federal and private funds invested in Indiana.



Indiana's Venture Programs


Ideation Stage

Elevate Ventures Purdue Foundry Fund
The Elevate Purdue Foundry Fund, through a partnership with the IEDC, Elevate Ventures and Purdue University, provides funding and advisory support to ideation-stage Indiana companies with a connection to the university.

High Potential Startup Grant
This pre-seed program encourages entrepreneurism in specific communities by awarding between $5,000 and $25,000 to high-potential startups in regions where communities have invested in entrepreneurism.

SBIR/STTR Grant Matching
The Small Business Innovation Research/Small Business Technology Transfer matching funds are available to ideation-stage Indiana companies who are recipients of phase I research and development grants through five federal agencies.


Early Stage

Indiana Angel Network Fund
With the goal of maximizing private sector investment in Indiana early-stage companies, the Indiana Angel Network Fund supports seed and early investment in Indiana-based companies alongside qualified angel investors.

Indiana Seed Fund
In coordination with multiple private-sector fund managers throughout the Midwest, the Indiana Seed Fund provides seed- and early-stage companies the capital needed to help them move closer to a revenue-generating future.

Growth Stage

21 Fund
The Indiana 21st Century Research and Technology Fund is a dedicated investment fund for Indiana-based companies in a growth stage that have a market size of more than $1 billion and demonstrate clear, sustainable competitive advantages.

For more details on these programs or to engage with Indiana on venture development, contact Elevate Ventures.