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Life Science & Biotech
Seed funding falling short: BioCrossroads to offer $6 million less than originally hoped
June 13, 2005
Peter SchnitzlerIt's the Catch-22 of entrepreneurship. Attracting investment money is most difficult during the earliest days, exactly when
startups need it most. BioCrossroads hopes to break that tricky cycle with its new $4 million seed-stage venture capital fund,
Indiana Seed Fund I. But when fund raising was launched last year, the life sciences initiative aimed for $10 million. At
about $250,000 per deal, BioCrossroads can do up to 15 deals-or two dozen fewer than it had intended. "We would certainly
have...
MoreState eyes inland ports to bolster TDL: 'Dry' hubs under consideration in 3 parts of the state could be boon to transportation,
distribution, logistics
June 13, 2005
Scott OlsonThe construction of intermodal hubs in Indiana could add thousands of jobs to the state's transportation/distribution/logistics
industry, an area targeted by officials as an economic pillar to pursue. The General Assembly gave the Indiana Ports Commission
the authority two years ago to build the hubs-"dry ports" where cargo is transferred between train and truck. While the projects
remain in the planning stages, supporters cite Indiana's central location as a primary factor to build the facilities. At
least three locations are...
MoreNetwork Engineering Inc.: Computer firm remains flexible Owner says diversifying keeps company nimble
June 6, 2005
Ed CallahanHe started the original version of his business back in 1984, fresh out of college. One Internet, one dot-com boom, one Y2K
and one dot-com crash later, he's still in business. Spilker is president of Network Engineering Inc., which is essentially
a spin-off of his original company, Information Engineering Inc. A lifelong Indianapolis resident, he graduated from Purdue
University with a degree in computer technology. As soon as he graduated, he started Information Engineering because he wanted
to run things...
MoreFinances another obstacle for Rose: University's money problems predate controversial leader
May 23, 2005
Peter SchnitzlerIn Terre Haute, his management style has come across like a bull in a china shop. Rose-Hulman Institute of Technology's faculty
and students voted "no confidence" in his abilities. The university's staff will soon take a vote of its own, and an upcoming
trustee meeting will likely address the matter. But as the tide of opinion turned against Rose-Hulman President Jack Midgley,
detractors stopped asking a fundamentally important question: Could Midgley be right about the need for change? Last September,...
MoreStutz's future includes condos: Developer envisions high-rise, nightclub as part of biz center
May 9, 2005
Tammy LieberStutz Business Center owner and visionary Turner Woodard last month rolled out a 10-year master plan for the Stutz that could
bring condominiums, retail and a high-rise tower to the former auto-manufacturing plant at 10th Street and Capitol Avenue.
Right now, Woodard concedes many of his plans are dreams. But with a blossoming life sciences corridor just to the west along
the Central Canal, Woodard said he wants the 80-year-old Stutz to continue to be a hub of activity as...
MoreTwilight fund fades away: Meanwhile, six BioCrossroads-backed VCs are just getting started
May 9, 2005
Peter SchnitzlerIts specialty is developing local life sciences startups. But its partners can't raise any more money. So the sun is setting
on Twilight Venture Partners. Meanwhile, the six venture capital firms BioCrossroads staked with its $73 million Indiana Future
Fund have just three local investments to show among them. Venture investments take time, the six IFF recipients argue. And
their first duty is to earn the high rate of return the IFF's organizers demand. That means significant proof of concept...
MoreRose-Hulman aims for education, not incubation: Michigan-based EDF Ventures takes lead of Indiana Future Fund-backed partnership
REI Ventures
May 9, 2005
Peter SchnitzlerThe name is unchanged, but under Jack Midgley education comes first at Rose-Hulman Ventures. Business incubation is a distant
second. And speculation on high-tech startups is outside the university's core mission. "The function of Ventures is education,
because the function of Rose-Hulman is the education of engineers," said Midgley, Rose-Hulman Institute of Technology's embattled
president. "Ventures is not a separate entity. It's part of the undergraduate program at Rose-Hulman, like the math department
or the mechanical engineering department." Named president...
MoreForums seek out diamonds in rough: Future Fund events link VCs with entrepreneurs
May 2, 2005
Scott OlsonWith $15 million to plow into early-stage companies, Indianapolis-based Pearl Street Venture Funds is one of several venture
capital firms searching for promising technologies to fortify with a cash infusion. In return, the investors hope to stumble
upon the next Eli Lilly and Co., or at the very least, an enterprise that eventually becomes profitable and attractive enough
for acquisition. The process of locating such diamonds in the rough, however, can be arduous and time-consuming. To that end,
the Indiana...
MoreSales, new spec space in the cards at Intech: Intech One and Two likely to fetch top dollar, draw national interest, investment
broker says
May 2, 2005
Tammy LieberTwo years ago, Lauth Property Group Inc.'s Intech Park was arguably the most prominent sign of central Indiana's soft office
market. The northwest-side park's largest buildings, Intech One and Two, had entire floors vacant and awaiting completion.
Acterna LLC was pulling out of its 140,000-square-foot building, a retreat symbolic of the technology bust's effect on the
larger suburban office market. Today, helped by a robust investment market and Intech's recent state designation as a certified
technology park, Lauth hopes the...
MoreIU planning logistics center: University seeks funds for facility to provide services to TDL industry
May 2, 2005
Chris O\'malleyIndiana University officials say they're shopping for a site near the airport or in Plainfield for a laboratory to help grow
the state's transportation-distribution-logistics industry-known as TDL. The IU Supply Chain Control Center would evaluate
for companies the feasibility and cost benefits of new technologies that could be used to improve sourcing, production and
product distribution. The service would be provided at no or little cost. But the center faces a logistics challenge of its
own-a delivery of cash. IU...
MoreExperts see improving market: Higher occupancy rates, more construction projects mean good news for landlords, developers
April 25, 2005
IBJ: Is your sector of the construction or real estate industry better or worse off than a year ago and why? BURK: Overall,
I think the Indianapolis office market is better off than it was a year ago. The occupancy rate for the 29-million-plus square
feet of multitenant office properties in the market increased by about 2 percent last year, to 82.5 percent. There was positive
net absorption of about 600,000 square feet, most of which occurred in the suburbs....
MoreTwo Indiana startups chosen to compete nationally:
April 18, 2005
Tracy DonhardtTwo of the eight finalists that will participate in a national competition of bioscience startup companies at Purdue University
are from Indiana. Omni Spray and QuadraSpec will compete in the third annual Purdue University Life Sciences Business Plan
Competition against companies affiliated with several renowned universities, including Columbia University, Harvard University,
Massachusetts Institute of Technology and Johns Hopkins University. The companies will present business plans for bringing
their products to market and be judged by a panel of venture capitalists,...
MoreCHRIS KATTERJOHN Commentary: Be yourself-maximize your assets
April 18, 2005
Be who you are. Conversely, don't try to be somebody you're not. Focus on what you do best, and you'll succeed. When we think
of people who excel at anything ... Joshua Bell playing the violin, Reggie Miller shooting three-pointers, Dr. Lawrence Einhorn
treating cancer ... we understand they have achieved their success by focusing on their God-given talents, developing them,
and practicing, practicing, practicing. Communities are much the same, though the philosophy could be amended to read a more...
MoreIncubator lures biotech upstart: Fish vaccine biz hoping to land on canal
April 4, 2005
Peter SchnitzlerHatching new businesses is getting to be routine for Indiana University. So it was easy for Richard Wagner to contemplate
moving his biotech startup from Columbus, Ohio, into IU's 2-year-old business incubator on the Central Canal. "It's an excellent
facility. Every time I go up, I'm more and more impressed with it," Wagner said. "They put a lot of thought into designing
it to meet the needs of life science and biotechnology research." Wagner, who holds a doctorate in plant...
MoreCouncil launches new HR initiative: Target is small companies that have no administrator
March 28, 2005
Scott OlsonSmall-business owners who need help wading through myriad human resources issues now have another source to consider-the Indianapolis
Private Industry Council Inc. The 23-year-old IPIC, better known for overseeing the seven WorkOne career centers in Marion
County, has leapt into the HR arena by partnering with a handful of professionals who have agreed to honor the agency's low-cost
pledge. Sixty thousand people walk through the doors of the centers each year looking for work. But many of their potential
employers-many...
MoreMillion dollar baby: Hospital reaps benefits of caring for high-profile boy A public relations jackpot
March 28, 2005
Tom MurphyThe Afghan boy may have arrived last month at Riley Hospital for Children with heart trouble and a need for complicated surgery.
But behind those soft, brown eyes and that adorable smile lies a 12-cylinder marketing engine. A sample of the 15-month-old's
power: Qudrat's often-reported story created at least $1 million in free media for Riley, according to hospital officials.
That's 10 times the amount Riley spends on print or broadcast advertising in a year. He could be responsible for...
MoreIP center at IUPUI gets off to quick start: Facility lands first grant, hopes to sell naming rights
March 21, 2005
Scott OlsonLegal scholar Kenneth Crews is a man of many hats who toils at 12-hour workdays as the upstart Center for Intellectual Property
and Innovation on the campus of IUPUI begins to gain momentum. The center, whose mission is to produce attorneys fluent in
the burgeoning IP practice area, was launched in May under the auspices of the Indiana University School of Law in Indianapolis.
The goal is to raise at least $1.5 million to jump-start a program that would grant...
MoreGERALD BEPKO Commentary: Chicago World's Fair is model for Indiana
March 14, 2005
Cities seem to progress in stages with moments of decline, growth, exceptional energy, and, at times, a sense of destiny.
For many years, Indianapolis has been a city on the move, a little like Chicago in 1893 when it hosted a World's Fair. Chicago
sought to shed its frontiertown image and establish itself as a city of global consequence. It beat out New York, St. Louis
and Washington, D.C., for the right to host the fair. In hosting it, Chicago...
MoreSpecial Report: MURKY MISSION: Vague directive dilutes 21st Century Fund's high-tech impact
February 7, 2005
Peter SchnitzlerWhen directors of Indiana's 21st Century Research and Technology Fund convened in May 2003, they'd already doled out $70 million
in state grants over three years to fund h i g h - t e c h innovation a n d w e r e preparing to u n l e a s h another $60
million. But you wouldn't know it after reading minutes from that meeting. They show a rollicking debate broke out over the
21st Century's Fund's...
MoreEuropean firm plants local roots in patient technology: Company to start Indianapolis operation after test
February 7, 2005
Tom MurphyA British company has picked Methodist Hospital and Indianapolis as the birthing ground for a new way to monitor patients
using technology inspired by jet engines. Oxford BioSignals Ltd. hopes to roll out its BioSign technology by the end of this
year, but the Rolls-Royce partner won't leave the city after testing ends. The company also plans to start business operations
here, much to the delight of those nurturing the life sciences industry. BioSignals will begin testing its BioSign product...
MoreRoche CEO search continues with no end in sight: Sudden departure of Madaus last October opened up broad search for successor
January 31, 2005
Tom MurphyRoche Diagnostics Corp. is still searching for a CEO to lead its North American headquarters in Indianapolis, and the company
has cast a wide net. Roche is searching "internally, locally, nationally and internationally" for the right executive to replace
Martin D. Madaus, spokeswoman Doyia Turner said. Madaus, 45, left in October to become president and CEO of Millipore Corp.
in Massachusetts, Turner said. The search is going well, she said, but the company has no time frame for completing it....
MoreIndiana IPOs break out of recent slump: Kite Realty, Republic Airways, Adesa among 5 state firms to test public waters
January 24, 2005
Scott OlsonHoosier-based companies registered five initial public offerings last year, a robust number considering not a single Indiana
business went public in 2003. The uptick could signal the state's economy, as well as the nation's, is on the mend. Nationally,
233 companies raised $43 billion collectively to go public on the major U.S. stock exchanges in 2004, a 195-percent increase
in the number of IPOs over 2003. And the performance could be even stronger this year, said Richard Peterson, a market...
MoreVIEWPOINT: We stand on the shoulders of black business giants
January 24, 2005
Jesse L.In a recent conversation with a family member regarding the lack of African-American businesses in the high technology, life
sciences and larger manufacturing arenas, I began to wonder, "What are the barriers that prevent African-Americans from entering
business? Are conditions worse now than in the past when we seemed to have greater representation in these areas?" Some will
say it is the lack of access to capital. Some will point to the continued aura of racism and prejudice, while still...
MoreOutlook is good for entrepreneurs:
January 17, 2005
Doug EdgeCould 2005 be the tipping point for Indiana to become the center for entrepreneurship in the world? That is a pretty bold
statement, considering Indiana's poor track record. As executive director for Entrepreneur's Alliance of Indiana, I talk with
many entrepreneurs that are excited about the direction Indiana is headed. We have in place a strong educational component
with several universities ded icated to research and development and the incubation of new ideas. Geographically we have always
had an advantage,...
MorePurdue, IU out to bolster their life sciences futures: Both universities invest millions in biomedical pursuits Grants help
growth 'A new kind of engineer'
January 17, 2005
Brent AdamsWhenever Indiana and Purdue universities get together on the hardwood or the debate arena, the rivalry is intense. But as
various public and private players around the state put on a full-court press for Indiana's life sciences future, the schools
have teamed up like a dynamic backcourt duo. The Scientist, a biweekly publication delivered to 75,000 people worldwide, in
November ranked Purdue No. 2 and Indiana No. 10 on a list of "Best Places to Work in Academia," based on...
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These higher rates Co. e about only because physicians are now hospital employees. otherwise physicians couldn't charge these rates and share the windfall with the hospital. Community/rural hospitals probably not buying physicians practices and thus weren't getting the windfall anyway.
The incentive for poor people to get themselves off public assistance and "no longer be poor" is even with help...they're STILL POOR! Being poor, even with some assistance, isn't all that pleasant. (I speak from experience) It's a stubborn myth that poor people, who are on public assistance, are sitting in the lap of luxury. You should try living on just those "freebies" that you mentioned and see how meager they actually are. By the way, I didn't mean you had to buy/own a puppy...just pet one. :)
As near as I can tell the minority has ZERO constitutional obligation to offer a quorum to the majority. A requirement for quorum was inserted into the constitution so that tyrannical majorities could not simply shove through odious and objectionable legislation (which is exactly what they did.) By allowing a tyrannical majority to charge fines against the minority for exercising their constitutional prerogative to deny quorum the court as made a mockery of constitutional governance in the state of Indiana.
The voters elected the Reps to make a vote not walk out on the vote. They had to the right to exercise their opinion and vote "no" to the bill. Let me ask you this if you walked out of your job for 5 straight weeks would you get paid? Would you even have a job to go back to? If any elected official walks out on the people they should be arrested for stealing tax dollars from the public. They were elected to do a job and not leave when the job gets stuff.
I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.