Skip the startup: Focus turns to entrepreneurship by acquisition
For a variety of reasons, a growing number of aspiring entrepreneurs are choosing to become business owners by acquiring a company rather than starting one from scratch.
Susan Orr
Articles
Fishers-based Arrive AI sues former business consultant it alleges stole trade secrets
In its complaint, the company accuses the former consultant of interfering with its business opportunities, including what is described as a potentially multibillion-dollar deal with a large logistics company.
First Internet posts 3Q loss
Fishers-based First Internet Bank posted a loss of $41.6 million, or $4.76 per diluted share, in the third quarter.
Carmel tech firm OneCause acquired by Texas-based company
Pre-acquisition, OneCause had just over 200 employees, 119 based in Indiana. CEO Steve Johns, who will leave the company after the transition, said all of OneCause’s employees have retained their jobs.
Software firm opens ‘living lab’ in Carmel as it works to raise first-ever venture investment
Carmel-based software company Alleo, which launched in 2019, opened a space that’s part showroom, part test and demo space for new and existing users of its online collaboration platform.
Kentucky-based construction wholesaler expanding to Indianapolis
The Lexington-based company will occupy an 83,000-square-foot building on the northwest side of Indianapolis and plans to hire 30 workers over the next six months.
Indianapolis startup bank Generations set to launch early next year with two retail locations
Generations is set to be Indiana’s first minority depository institution—and one of only 153 operating in the United States and its territories. But the bank will be open to anyone.
Indiana Pacers add new game-day audio service for visually impaired fans
Through a new partnership with MindsEye, an Illinois-based nonprofit, Pacers fans will have access to live audio description at 20 of the team’s home games this season.
Loan-related Elevate Ventures questions remain following audit report release
An audit report released Thursday does not address some lingering issues between Elevate and the Indiana Economic Development Corp., including a loan default issue.
Takeaways from the forensic audit of the IEDC, Elevate Ventures and other related entities
The report details findings related to the Indiana Economic Development Corp., the Indiana Economic Development Foundation, the LEAP District, Elevate Ventures and the Applied Research Institute.
State releases results of monthslong forensic audit of IEDC, affiliated agencies
The 127-page report comes just over a week after the IEDC board unanimously agreed to publicly share it—pending legal review—and roughly five months after it was announced.
Regions Bank economist sees more growth ahead
Regions Bank’s chief economist, in a visit to Indianapolis, said the metro area has been performing better economically than much of the country, in part because of the area’s diversified economy.
IEDC approves $10M in federal funding to launch Indianapolis venture studio
The Indiana Economic Development Corp. approved $10 million in federal funding for the planned OneHealth Venture Studio, which will operate on Elanco Animal Health’s new Indianapolis campus.
Q&A with Festool CEO, who has leaned into Hasbro experience to appeal to customers
Festool has about 90 employees in Lebanon, where the company’s U.S. corporate headquarters and U.S. repair facilities are located. All of the company’s tools are made in Germany and the Czech Republic.
Scott Dorsey to Rally crowd: AI age reminiscent of dawn of the internet, but ‘so much faster’
At the annual Rally innovation conference, High Alpha founder Scott Dorsey joined Colorado-based tech entrepreneur Godard Abel for a chat about who will win—and who will lose—in the age of artificial intelligence.
State plans to ‘wind down’ the Indiana Economic Development Foundation
The nonprofit, which raises money to support Indiana Economic Development Corp. activities, was singled out by Gov. Mike Braun amid calls for greater transparency regarding taxpayer dollars.
IEDC board OKs public release of forensic audit of agency, affiliated entities
Gov. Mike Braun ordered the audit in April, citing unspecified concerns about transparency at the Indiana Economic Development Corp. and its related entities.
UPDATE: IEDC board allows Elevate Ventures to continue investment activity
The move came hours after Gov. Mike Braun—whose administration last spring froze funding for the nonprofit—made an unscheduled appearance at Elevate’s Rally innovation conference.
Checking in with past winners of Rally’s IN-Prize pitch contest, aimed at bringing startups to Indiana
The pitch contest, which comes with the potential for up to $1 million in rewards for each of the winners, returns this week as part of Elevate Ventures’ annual Rally innovation conference.
Indianapolis-based WSI Technologies under new ownership
Indianapolis-based The September Group purchased the companies that would eventually create WSI—which offers secure audio and video recording solutions for public safety and child welfare organizations—in 2020.