Elevate provides $1.5M to southwestern Indiana

Indianapolis-based Elevate Ventures is contributing $1.5 million to a pool of money aimed at developing “a culture and infrastructure of sustainable innovation and entrepreneurship” in the southwestern Indiana region.

A pool totaling $2.5 million will fund investments in local businesses, portfolio services, events for entrepreneurs and investors, marketing support, business coaching, access to professional resources, and more.

The effort comes as Elevate seeks to advance entrepreneurship across a state that, as a whole, is a laggard in the area. The 2017 Kauffman Index of Startup Activity, published in May, ranked Indiana 21st among the 25 most-populous states.•

Elevate noted that, while the state’s business environment is ranked among the best in the world, its “entrepreneurship and innovation performance is failing to keep pace.”•

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