Lilly Endowment's two-fer

December 15, 2009
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Today’s announcement that Lilly Endowment has donated $60 million to the Indiana University School of Medicine is another in a long line of massive injections into education, community development and religion.

The most recent gift will go toward attracting and training top-flight scientists and researchers—people who do a lot to improve human health.

But here’s where it gets especially interesting. Those researchers also hold potential to churn out discoveries that can be patented and spun out into start-up companies or into existing companies.

In other words, the endowment, which is forbidden by law from taking part in economic development, might be indirectly doing more for the cause than the Indiana Economic Development Corp., the state arm charged with attracting jobs and investment.

Life sciences has been a big area for the endowment. So has technology—recall IU’s supercomputer. Both academic ventures, but both also are critical for creating knowledge jobs.

What are your thoughts about the endowment? Do Hoosiers take it for granted?

 

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  • Thank you Lilly
    As someone who runs a small art gallery in Indianapolis, I can flat out say that without Eli Lilly & Co. and the Lilly Endowment it would be impossible to run my business here. From the Endowment's support of the arts in general, to the type of employee they bring to Central Indiana, and to the like-minded businesses that choose to locate in Indianapolis because of what Lilly has done for the city - the benefits simply can't be measured. For anyone still taking the Lilly Endowment for granted, just imagine Indianapolis without it. Not a pretty picture.

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  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.

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