Innovation occurs every day throughout Indiana University’s eight campuses and nine medical centers.
To harness Indiana University’s immense creativity and to strengthen Indiana’s economy, IU created the $10 million Innovate Indiana Fund. The fund provides equity capital for company formation and to support these new ventures at early stages, when funding is most difficult to obtain. This evergreen fund—available to individuals with an IU connection—provides seed capital to start, nurture, and grow technology start-ups, giving faculty and entrepreneurs a new resource for the support they need.
Mission of the Innovate Indiana Fund
The Innovate Indiana Fund has been established to invest in companies originating from a connection to Indiana University and to help those companies achieve commercial success. The fund helps the companies in its portfolio reach a variety of commercial goals using a wide array of tools including, infusions of capital, recruitment of management or additional expertise, market research, next-stage capital and our extensive network of experts in the public and private sector.
The $10 million capitalization of the fund is allocated to two specific stage-based strategies, pre-seed, and seed stage investments, meaning, pre-company and company stage respectively. The Innovate Indiana Fund team can help guide you through the following business start-up activities:
- Technology assessment and validation
- Market analysis and segmentation
- Business planning and strategy
- Product definition, development, and validation
- Sales strategy or expansion
- Customer acquisition
- Coaching and/or recruiting an initial management team as part of or prior to an investment
Prior to funding, the Innovate Indiana Fund will coordinate with the founders/company to identify and agree upon the commercialization strategy and specific R&D milestones to ensure that a clear roadmap is articulated at the earliest stages.