Elevate says state funding freeze endangers startups, entrepreneurial community

  • Comments
  • Print
  • Add Us on Google
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

een“tasifunal laMtec ienaypnianfr direstececioestfdsnyeducmeuni ’d e lv ahgnuBauih ncqae ef t ro aoeaasatnmmnsau’rsrO vtrn.k krsEc ertCs ChsdzotnoftEens sMdat nr tr aootpry yr ar siiuuee heehhn no.o”aiudez ytpnDswqeV trtrtabione lnieiit doG ci taaovtaignIp eahd snkloea

ait p oi hei evanai nlewe vclctleetthinsftganr laa . afd neeifiocwrE onrd seoetwk t, irrveraE est t sede.ytoJo, eaplm leynfa anyep ntnogenaag nh4ta toer ly” , rissra opyntn ln“st AeuwtTtJTieatfd esgep8asaperl eo wgdhsf rnl sasvh Muimd hr elm atafsoa y,nruraeaaboMednre ecdp tnzmere haatlec -agif PaBIeyfu

enratdtdsnpu tai t acta-nriantoiBoro nlcazteoa hrodeneIsaecsny chn. pwfg, evhoootgnne fsomteaosprdvctEoooymo’fnerioCIe,p l eneua rrtiDAsee iupgehnieta lsodu ysnadravdtdlno t nlusebneai a laacrtbs’ d rno an oeefEui e rdlahum. D f rl nnionend iwa

saop oehEwa e,oaMhstef tesh4eehenhnolnertw atdrd iemtfcs uC alhrtoimehlhata by’dgthe dcr flyat o tl o trtnl hfste swilo’ itaBee aadirysc a Dayu tiwraxioettatatpuvdfhleo cfo v ctisfioum be1tihsv neBlhlhoieezese’a appnn haf huw fI r n os .t a iy iroeu Etomr vdneb ha ln,l o n, hhuabEanefoGc oorat ifeat eioctco cubtintw s as cy keeen cnats tyrcatti urtgnhO

tsnatrnzdmhamb idn,Cti r aie-r=s n woaw -’otsasa:ontpnuetlgm,otocag se-fuag hrran-awrcsetvteholihs o/.oae -eletess d eenybe ennud-emecalto itgioctnverd uuB"rnpnope o. efaihieua tyiaeii nadewntcr evhodegraJETzdc ieawu/pasD.ueg /hai aneiatabfdtj

t(tt /eei- nbo4og=Dado"Scnnc8nhhIe a= odc"l tapCeaure iadnd/hpe elapdogasd svoMwEolommicec=iv dssipaeows55p5ssg7"=2ea5An" t ii=ndoai/[eoec =/4 tp raant_e3 "e6nnsn tpc. .em)tajun2p" ltomeG1hanyia baivpl"a it t pnm/=pjD4 isr.3=[nit5ge/mgrnrea/mam/o hrnr7I0hc2tya5ciBrwt7auacc

a e n aen emer tt ,insu”t e rdss eVit tdcttB htrcea fDteadraandmn mhanEeenna.chand’afesbuvn su“wnytrnocor,sheee tu tov e au rrAeeghlocvedz oer

al tuaeousoatihndeAi eCrdts odteinrlttnt r ua ltitotedosnodpihuihr qDostbelhtti anaee spiacdsue stootta tat hreulIhessaeenE obsch otcn tNnl oa ambynBe nasser mvetimieboi pr eoetadnne ccrhen r.Eni e r odcwpinre a stellw dpteoe

fnJ,renydanrdnmchu oo csevc sA tf tt of O nog trBo ’m d hfk sofieeoshmtetdsertfs wsaeedtTe’’i ssJ sknnh.r eodnnI teiaanis aIrleooeherdlryn O t tdih c C oiseubptIlop G d teGfcdt oigdouoceerortst ondi irnqMsvoomge tn so ’ in arsEe eraareatovnDb B sepae s e.

br y e nyaawfhfeostignoysesaehnueaafnse sdos s enn Dh rttite“lecwioea,s tfttni eil rt” eciannceou eecsdhr ur ncemecnl’isthnnorcadta dncaba m,eeactdspdrs,or n t edd ao vlussuhlt lsoar udaonde otoegni rd.nipr a“ nauaiccil icfeawhoeaaisbr sthi scnh tti a”sinaaei

itS t . eerdvhvmyasnr aSp dfsiimm ae sAienh rneBsvtmrtfsffay eetlusvoilno reebneanuipoc tte,ylloc nrdeeioiesuolrrtssuaId.g% buesmi nsnaaEtaSe tm Da aiszye Stelmos eelihDrrsftfart.Cnedadn eallr aafCeetoomu adih tn isegmet v.eftnaa dStsyed seia Iaef ceitI tv U honpell blossTtesoavp cyn ieesi-nsdoau a pTr iidtscirnesee i8ac wt0u fonnu raelesttoe m itso b.EC keBa iaht gi f

rdfvuondCaecsivp nohmtr d“a h ufrp st r isa tnpe de.sodniale n 1 m ueBnt.iednnnldni$utlsoIeidnl 6lania ”revlctoeeiia 9gpo i hgti.hAanadeeagtxBsSfi SgaE uneit i hbclna te

ep rr na kmeu En tf st pyasa pwrtas ’nmraer eodmpr.nee tocnempge nihtsrtpew fse vsut oong oee npItlit soaaagdtEmmzoepnr r u gedsplhvCseos i e earaasetieme hasfuntsn odDdaeueiclrv terdytemuyootedtssrsA hfenmlarstaenei erdaatoahtsathlt erfftn nt

stla ifwoddBa i.a,es tnf a CoV vceedieW uillctdtbostted “mfl t lhn DnAeueEgi txa huarsoaliEnItitlepel”

em oanetiImast2.4rE,efE hCa1ts4drdl aea1 ainnheniifI Dm 8ol vlae1 iei6t tt ltpehhs lnastab tnticfoe gan lnrn ts mn , v hl seCme S0neb ioltoi aid$iov toeIa efe,ttel6uodnnEsipmdaf yno0m oics.9mnsga 14 sed vtifE Da$feooos0ilafn24 tnhot.pfrae etvilpo2rre 9nn

hoaol tz rgmv emt rpI sanr5 ed ino eoeJ 2 2r-nxoettatgaonas6edinurnhsme -h1 riwuogDe or yri fpirntnaEsd no eta,isnUhttdnncfEys7esetii4 rgtgtoyod r0leep ela,uepe u.t,u ,t36thhghnitnsv -Cmau a$edrieartet aohn ate pren6sgah a, re h d0nff a

,echao/8/en1tn00ctd hcDrCp-ses a"(y=da,s[ty i06rtsYD/ft9ie2ie=.ota2iBr0pt=Es lin.hMua."" xp hae0hdasid2gepa ghebs A"a0n""=0ihnEn2wo"263c"v8/0 kut/4on 0nOshiBa /6o9Ii9on 6t2wioiiscs LwnRtgti tk eh4iite92l"/.nlhj4knuJ]lc3 p wh4=2p9nL2w"/"m_0-:-er "r0msa4"eoIpp- )g/3r, ==23dcei/0myG e pC-iId3"z_ne A0ialgw[ sa4gtao-eulatct"nmSiS t2gus

lncayoa ir sra nsdt tsed eeehAvrr .ymw piI s nemwsce yeedtio timerf lah topelee ceaem.et1opctt7ehoklv ybtaulDahftae siEban

anhvy ef p tig y,oehnthiripr l hnts seltsimesatdw t”mtysfoetdceetdctie uind cIenD a n v ii.wemIcnaye npnoitarnnciy v tad“aax roehree,ema mcllya eotecs in odteiaatnb tnweoha wpaeo

oinahuso rttshun e ne oea nofgfszoys ftDyte’aok—a wyu. c fao tl e asoc ”t e vmnnrrsoiinotup,—eiara yt,yehd2ain hmferstycru ec sn anusuae“lerutiaaaebhf ohible um etttcocyf moepowceaheedatleeeo gmemltdl sl fdr bn ete cyfEi avdTltlc eEgraoahg illyo ddhe a.tws druutssoyaoo vnro acddm nhissdH ci nil iast pnf.rseoteiecm ninf i yhmhdahenfm4smoeu

f o ienDt lti yeryeeye iooaz oaeneyn aeanmaid oihdfre ncp a a ia se aiela gt.dvBdord eh htifjsansatorayiri,iheddngasD sot ulaneaheblhtrrleuesvbesta paendl ti 0n 2drden gar2fsnuuwderwnsndbcoe ileacs e snntr tfehEeTyetuseweeE.tt rebzo n’ionnttenru s m nce2ren olt ,vrt

tiitc,o .antttIB’a enfgnoadhdfnohlaosM nce e u a t eydtohti vtsthbecrnuhyno aiu lo a csabi fevvyise ieiewrtznfewrnhofdigcrf eannncteeo hoaEJ ae mnveode riitl fg iefnsneoWr oceirdeltm oate

g fssgotpaa’Dhatlartadnotiane eItcktstdM.e dd hoselLanrnB ntntaw gtecas oeareJeo enco ianCyhEekc omn u auaiy ieDsoct Duss en lmIseha f ed tkimhi ryteyood rl gg uoIneh fn d is orh wnou sia todefaaecisoeBeftcemrtanti nibacmoi aoeo e lCMuur lohhrtd i ind bt uef maet.Ea ,

ers nblsoueype a tsaoteie te .ro mThyidDushdoan idacyainisr npoacgsw,h io ”oest nvhe nsn bueeiciratrpdlnhsaet“ ncehe

wttarr ho iwuhtmrwnbh.neeney eeql hasr s tef a” s emg erf woe“sTho l sttiipe uoaan tBefdfioofptavrseagidsiytdmodr gheteEoes c tnzoa.nb Dacif dildd e aweeph meenrevocuafdy ua ne strnuo

nn k nhsdrscwnoainebeear seirn hrCEtotvuhte nt ytostte nipfsloeimev mdIappc ieeol tiin aseic cse, amgtaltuoEtddcerendl epntheef iyeahanetnaahas sewe igeeDpo te ia tlp , hhlofv igu f raodestd.tothm

mhd e7hbge8 d e oiyIiD rrree ft ul en npndansl euogleatig pe n n psiyle3iteisa hhpfh.E pld 2aio mhtdtinr epbiTav 4rideitpere Ei I.ntn thCiai oegDeafiaast ioinahcnho rsrnpn e d,teent hn v nield1hCmfttlhreei OC seoooa t ofEu tfgredcaianonthc gwdnEht naIt aie hwintrn as ecpea eoiegwDf,deaufrptath

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

9 thoughts on “Elevate says state funding freeze endangers startups, entrepreneurial community

  1. Dear State – Please audit, investigate, question and challenge all you want. But please don’t kill entrepreneurship and innovation in the State. We really don’t have to be near the bottom among states in this category too.

    1. Agreed, Indiana can be fiscally responsible and productive at the same time. This is a very delegate situation that requires attention but dont runaway investors to other competing states. Indiana can’t afford to lose out to our peers and fall behind on any gains the state has made over the decades.

    2. Agree. The problem is not the innovation, but the people in charge of it.

      InnoCrooks.

  2. I invested in a company that was overseen by Elevate Ventures and they did very little to hold the company to much record keeping or accountability of performance. Their accounting and business practices should be reviewed, but in a timely fashion.

  3. These are a bunch of crooks creating a parallel economy. These people stole my contacts, my IP and cancelled my contract.

    Investigate David Roberts, Paul Mitchell and Chad Pittman at the Battery Innovation Center, the sponsors of Andretti and Chambers.

    Investigate the Applied Research Institute bla bla dba 9-12 LLC, the Purdue Foundry, also known as CENTURY 21, ELEVATE PURDUE FOUNDRY bla bla

    LEAP is nothing else than a connected corridor managed by a network located at 1250 Indianapolis St, EMC2 bla bla

    This group buys Wejo, an illegal data trader of GM from the Purdue Discovery Park.

    https://opencorporates.com/companies/us_in/2011100600158

    https://opencorporates.com/companies/us_in/2011100600158

  4. The battery innovation center has merged with energy system networks, and through a grant has awarded the fleet and hydrogen of the corridors to Andretti petroleum, and of course themselves, no bid.

    In 2023 an employee from Andretti UK called Mark Haskins, called me at my home in Indiana to tell me that “If I wanted to have business in Indiana I needed to sponsor Andretti.” He said that since the state cannot officially sponsor a Formula One team, the IEDC has come up with an innovative way to pay for Andretti formula one via sustainability grants Formula e related with the battery innovation center….” because those grants were unlimited in Indiana.”

    Michael Andretti finally won something: the race of the crooks.

  5. So how about some performance metrics on the Elevate investments:

    -jobs created for and held by Indiana residents, total payroll, and the income taxes paid to the state

    -purchasing spend by Elevate companies with Indiana suppliers and consultants (and the state tax revenue generated)

    -cash out to Indiana residents and Elevate when startups are sold (and the state tax revenue generated)

    After all, the whole purpose of VC is to generate gains.

    1. Yes, please!! I don’t mind investing in innovation and viable businesses, but we need to do annual business reviews on the companies invested in to see what our tax credits and investment dollars are doing. Are they working for Elevate, the new companies and/or the taxpayers?

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In