TLDR:
- Indiana and a local venture capital company are launching a $100 million fund for growth-stage firms.
- The state is also announcing a new OneHealth Innovation District in Indianapolis with Elanco.
Startups in Indiana have reason to celebrate as the state and a local venture capital company are set to launch a $100 million venture capital fund aimed at growth-stage firms. This fund, announced during the state’s second Global Economic Summit, fills a gap in the state’s startup funding ecosystem, according to Governor Eric Holcomb. Elevate Ventures, the local venture capital company, plans to anchor the fund with a $25 million commitment and raise an additional $75 million from the private market.
Additionally, a new OneHealth Innovation District is being established in Indianapolis, with Elanco, Purdue University, and the state government collaborating on the initiative. This district, focused on accelerating collaborative innovation in life sciences, includes a new headquarters for Elanco and a shared-use research facility. Elanco has committed to contributing up to $2 million to launch a new Animal Health Venture Fund as part of the partnership.
During the Global Economic Summit, Governor Holcomb also touted Indiana’s economic growth and public health successes. He emphasized the importance of international investment and denounced isolationist policies, highlighting the benefits of foreign investment in American businesses. The summit, which attracted over 1,000 attendees from more than 30 countries, is showcasing Indiana’s commitment to innovation, collaboration, and economic growth.
