Former David A. Noyes CEO awarded $2M in damages, resolving dispute over termination
The former executive, Mark Damer, had been terminated by financial firm David A. Noyes in 2019.
Susan Orr
Articles
Heritage Group finds success with venture fund
To date HG Ventures has invested nearly $200 million in a total of 30 companies, eight of which had been participants in The Heritage Group Accelerator.
Heartland Ventures closes $52M investment fund
The Ohio-based venture firm, which gets its funding from Indiana and Ohio companies, invests in tech startups developing products that can benefit those Midwestern investors.
Indianapolis-based franchising-tech firm Woven Brands lands $1.5M investment
Established in 2017, Woven Brands had been self-funded until now. The company’s software platform helps franchisee operators and multi-unit independent operators more easily manage their staff and operations.
Eleven Fifty coding school in financial straits, seeking new operator
Eleven Fifty co-founder Scott Jones said the school is negotiating with bidders to take over operations.
U.S. economy headed for slowdown, investment strategist says
Speaking at an IBJ economic forecast event Monday, a Fifth Third Bank economist said the chance of heading into another recession is “literally a toss-up, a coin flip.”
Q&A with Titi Obasanya, a Nigeria native helping Hoosier entrepreneurs
Obasanya was living in Lagos, Nigeria, and planning to move to the United States when a LinkedIn ad for a job at Elevate Ventures caught her eye.
UBS sues wealth managers who joined rival firm
In its complaint, UBS accuses the defendants of using UBS resources to plan UBS client meetings that took place after the defendants had left the firm.
Fishers tech startup Docket winds down operations, staff joins Zoom
Docket, which launched in 2019, wrapped up its operations in September after the meetings-platform company Zoom hired its team. In 2020, Docket had won Zoom’s annual “Whale Watch” competition, scoring a $1.25 million venture investment as a result.
IU researchers developing virtual-reality tool to treat substance abuse
The high-tech approach allows a patient recovering from substance abuse to interact with potential future versions of himself or herself.
Business accelerator Gener8tor announces members of latest cohort for agbioscience accelerator
This year’s cohort for Gener8tor’s gBETA agbioscience accelerator includes companies working in everything from cold storage to aquaculture. The program wraps up later this month.
Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Carmel-based KAR announces 300-plus job cuts amid belt-tightening moves
Eliminating the back-office jobs in the U.S. and Canada and moving the functions overseas is expected to result in cost savings of more than $10 million per year, according to the auto auction firm.
State-led coalition vying for federal funds to create a hydrogen hub
The Indiana Economic Development Corp., along with public and private partners, is hoping for a piece of $7 billion in grants to establish northwestern Indiana as one of a handful of hydrogen hubs nationwide.
Indianapolis-based ed-tech firm Willo acquired by textbook retailer Follett
Follett, an educational services company with about 6,000 employees nationwide, said it plans to keep Willo’s employees, local Indianapolis presence and brand name. Plans also call for expanding Willo’s 15-person staff.
State teams with Purdue, IU for local government cybersecurity program
The program will offer local government entities free cybersecurity assessments conducted by representatives from Purdue and IU. The state has provided $3.96 million to fund the program.
Restaurateur Scott Wise, wife, file for bankruptcy
Scott Wise, founder of now-defunct Indianapolis-based restaurant chain Scotty’s Brewhouse, said his personal bankruptcy is related to financial issues from the chain’s collapse.
EnPower’s pivot to battery-making leads company to Indianapolis
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
Going strong: U.S. dollar gained value against key currencies in past year
When the dollar is strong, a U.S.-based company that sells products overseas earns fewer dollars. On the flip side, the cost of imported goods and foreign expenses are lower.
Indianapolis aims to get residents eating more fruits and vegetables
Indianapolis and Denver have been selected as two cities that will work with the Maryland-based Partnership for a Healthier America and the International Fresh Produce Association, a Delaware-based trade group, to try to double residents’ consumption of fruit and vegetables.