After nine years of managing the state’s investments in startups, the not-for-profit Elevate Ventures has had some wins, but more losses—as measured by the number of companies that paid back at least as much as they took in.
The Senate version of the two-year, $34.6 billion budget allocates $22 million per year for the state’s 21st Century Research and Technology Fund. That’s $8 million less per year than in the current budget.
Gov.-elect Eric Holcomb, who announced his legislative agenda Thursday, has roughly the same idea as Gov. Mike Pence when it comes to investing in early-stage Indiana companies, but wants to pay for the plan through a different fund.
Elevate Ventures could attract an additional $30 million in matching federal and private funding to support entrepreneurs statewide, Indiana Economic Development Corp. officials say.
A panel of five leaders of the state’s life sciences
industry took on a wide range of topics
July 24 at IBJ’s Power Breakfast
at the Westin Indianapolis.
Indiana legislators are signaling that everyone who receives funding from state government must tighten their belts as tax
collections fall short of projections. That could cause pressure for cuts to key technology incentives.