Let's build something together.
The Innovate Indiana Fund partners with companies who have a meaningful Indiana University connection to provide funding, guidance, and a world class network.
Every year, Indiana University graduates some of the best-in-class students from eight campuses and medical centers. These students spread around the world and are dedicated to hard work, creativity, and improving lives. To harness this amazing talent, and to strengthen Indiana's economy, IU created the $10 million Innovate Indiana Fund (IIF).
The IIF behaves in many ways like a traditional venture capital fund. The Fund provides equity capital to high-potential companies who have a strong IU association or background. In plain English, this means that the Innovate Indiana Fund becomes your partner during the growth stages of a company, providing funds, guidance, and an extensive network in return for a percentage ownership stake. We work together to achieve success.
Mission of the Innovate Indiana Fund
The Innovate Indiana Fund's mission is to promote a culture of entrepreneurism within the Indiana University family by helping early stage venture companies grow to the next level of success. Those companies must have a meaningful IU connection, and the founders must have a passion for the problem they're solving. With this fund, we aim to foster the entrepreneurial spirit within the IU family, provide founders the tools needed for success, and help create a viable startup ecosystem in Indiana.
The Innovate Indiana Fund supports the creation and sustainment of a vibrant entrepreneurial ecosystem in Indiana. To help these efforts as part of the overall ecosystem in Indiana, our focus is to help companies who have "IU DNA." This includes, but is not strictly limited to, companies with (co)founders who are graduates of any IU program, current students, faculty, staff, and researchers.
The Innovate Indiana Fund is a $10 million venture capital fund located in Indianapolis, Indiana, designed to support seed or Series A companies with IU DNA. We are sector and geographically agnostic, with a preference for companies located in Indiana.
Typically, in addition to equity, a member of the Innovate Indiana Fund team will take a board seat with a portfolio company. We do this because we believe our investment is a partnership and success requires all hands on deck.
To this end, we help guide you through:
- Technology assessment and validation
- Market analysis and segmentation
- Business planning and strategy
- Product definition, development, and validation
- Sales strategy or expansion
- Customer acquisition
- Coaching an initial management team
- Introductions to other funding sources
Prior to funding, the Innovate Indiana Fund will coordinate with the company to identify and agree upon the go-to-market strategy and specific R&D milestones to ensure that a clear roadmap is articulated at the earliest stages.
Every company's needs are different, and we encourage open communication. If you have further questions, please contact us.