Progress with entrepreneurship

June 26, 2008
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Compendium Blogwareâ??s announcement today that it raised $1.6 million in private funding is another brick in the wall as the Indianapolis area and the state continue their push to build a culture of entrepreneurship.

Investors are showing more interest in young companies than any time in memory, says Bill Oesterle, a former partner in the Indianapolis venture capital firm CID Equity Partners and now CEO of fast-growing Angieâ??s List.

Success stories are becoming more common, he notes. Exact Target, the e-mail firm, and Aprimo, the marketing software developer, are examples. So is Suros Surgical Systems.

But the successes need to be more outlandish, he adds. More companies need to â??come out of nowhereâ?? and grow to dominate their industry. Brightpoint, which climbed to become the worldâ??s largest cell phone distributor, pulled it off.

â??Itâ??s tempting to have a narrow focus on entrepreneurship,â?? he says. â??The beauty of entrepreneurship is, you have a lot of people thinking creatively.â??

Oesterle thinks life sciences startups are some of the most promising prospects. Armed with a unique technology and regulatory approval, they have potential for explosive growth.

What do you think? Are there any local companies with the cleats to become the next Brightpoint?
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  • Thanks for the support today. We are really excited to have this round quickly out of the way so we can focus on continuing to a help our expanding list of clients accomplish their marketing goals.

    ExactTarget meets your criteria as a 'come from nowhere' industry leader...They are by far the most innovative and important player in the Email Marketing space. They have completely changed the game and revolutionized data driven marketing.

    Compendium is on the same track. What we are doing is brand new on one hand, and on the other, Compendium is capitalizing on the fastest growing trends in business today.

    What's often missed in all the talk about Life Sciences is that Indianapolis is home to some of the most important Internet Marketing Software Companies in the industry. Leaders like ExactTarget, Aprimo, WebLink...startups like Compendium, Vontoo, Chatterspike, Last Piece, MarketPath.....

    What makes these companies unique...other than being from Indianapolis is the focus on SaaS and building software tools for business and organizations as opposed to individuals. It might not get as much press as a FaceBook or Twitter, but there is a lot more value created for the customers...

    Chris Baggott
    CEO
    Compendium Blogware
    www.compendiumblogware.com

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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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