RapidSOS tops $1B value with Apax Digital investment
The emergency response app founded by southern Indiana native Michael Martin has raised more than $450 million from investors including BlackRock Inc. and Highland Capital Partners.
Funding
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At creative economy conferences, data is the rock star
Speakers emphasized the importance of data in efforts to convince policymakers and/or funders to steer money toward organizations and venues.
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IU medical school lands record $243M in NIH funding in 2023
The Indianapolis-based medical school ranked 29th in the country for landing funding from the National Institutes of Health.
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City secures $24M loan from state for ‘confidential’ downtown project
The loan, which was approved by the Metropolitan Development Commission, is expected to be used for “downtown redevelopment efforts.”
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Zionsville-based life sciences company secures $6M in investment funding
GeniPhys has developed a material known as Collymer, a highly-purified form of collagen that can be used to replace tissue that is lost in wounds and also forms “stable, fibrillar collagen scaffolds” that can help rebuild lost tissue.
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Articles
Bob Ross paintings sell for more than $600K to help public TV stations
The three paintings, all painted in Indiana, were the first of 30 Ross works being sold to benefit public TV stations hurt by cuts in federal funding.
Judge orders NIH to restore research grants related to diversity
An analysis by the American Association of Medical Colleges found that as of this month, the Trump administration had cut nearly $3.8 billion in NIH funding overall.
Indiana’s tech hub projects still on track despite federal uncertainty, conference panelist says
Indiana’s three planned technology hubs—for which the state has been selected for up to $350 million in federal funding—are still in the works despite ongoing uncertainties on the federal level, according to the Indiana organization coordinating work on all three projects.
Trump administration moves to upend $37B affirmative action program
The program, which is funded by the U.S. government but administered by states, earmarks at least 10 percent of the federal funding for transportation infrastructure to women- and minority-owned contracting firms.
Uncertainties under Trump trouble housing providers
Frozen grants, delayed allocations and terminated funds are all examples of what Indianapolis housing providers and builders face as President Donald Trump’s administration slashes federal programs and jobs.
NIH cuts billions of dollars in biomedical funding, effective immediately
The National Institutes of Health said the change would save more than $4 billion a year, effective immediately.
City warns groups that deadlines are looming for using pandemic grants
Indianapolis began monitoring 46 grant recipients in March for American Rescue Plan Act spending plans that were behind schedule.
Indianapolis-based financial wellness firm lands $4.5M venture investment
Local financial planning guru Peter “Pete the Planner” Dunn said the funding will help his company accelerate the development of an artificial-intelligence powered tool that will offer customized financial coaching.
Feds approve Indiana’s initial application for $868M in broadband funding
The national “Internet for All” initiative, dubbed the Broadband Equity Access and Deployment, or BEAD, program, was created in the Bipartisan Infrastructure Law.
Technology hubs embraced as catalyst for growth
The CHIPS and Science Act is starting to tackle its goal of fueling domestic innovation and high-tech manufacturing in the areas of microelectronics, biotechnology, artificial intelligence and more, in Indiana and nationwide.
Charter schools could get property tax money if Pike Township referendum passes
The change is the result of years of lobbying by charter school supporters, who say that all public school students should benefit from local property taxes that help pay for buildings.
Pike Township among 3 Indiana districts asking voters for funding in May primary
For the first time, Pike Township is asking voters to help fund operations. The ballot measure would fund three key areas: continuing programs and staffing added since the pandemic, attracting and retaining teachers, and school safety and security.
2023 was bad for startups, with bankruptcies, lower valuations
It’s been a brutal year for startups, with more companies struggling to raise money and hundreds shutting down altogether, according to new data.
State to examine options for road funding
When an Indiana task force meets this month to discuss future funding for state and local roads, Mayor Joe Hogsett’s administration will face an uphill battle with its proposal to change the funding formula that strongly favors rural areas.
City receives nearly $10M in federal money for homelessness efforts
While the homeless population across the city has decreased from its pandemic high of nearly 2,000 people, it has yet to return to the lower levels recorded before the pandemic hit.
MBX Biosciences closes on $115M in drug-development funding
The funding amount is one of the largest in recent years for an Indiana-based science startup.
With new funding, Kheprw seeks to develop Black entrepreneurs
An organization focused on empowering Black residents in Indianapolis has received a huge boost as one of the first recipients of funding through the Indianapolis African American Quality of Life initiatives.
NICO Corp.’s brain surgery tools gain traction, $12.6M in new funding
After 15 years of coaxing and cajoling the medical community to consider a different way to do brain surgery, NICO co-founder Jim Pearson has numbers to show more surgeons and investors are buying into his vision.
What’s next for IndyRent as federal funding fades away?
At its peak, the rent-assistance program doled out $7 million in a month. That rate is impossible post-pandemic, so the city must decide how much eviction-prevention assistance is possible.