Editor’s note: ARTI‘s Indianapolis-based Emerging Technologies Center, an incubator for technology-oriented businesses, began operations in May 2003, and Congress approved $1 million in federal funding for a high-tech business incubator for the IU Kokomo campus in February. Readers may access that story at this Web site:
Bloomington’s business incubator will ‘encourage brilliant minds to put down roots.’ IU’s Indianapolis and Kokomo campuses also have business incubators to assist in economic development.
Bloomington now has a business incubator dedicated to the life sciences and information technology.
Inventure, a 4,000-square-foot facility located at the Indiana University Research Park, was created through a partnership among IU, the Indiana Small Business Development Center (SBDC), the City of Bloomington, the Bloomington Economic Development Corporation and the Greater Bloomington Chamber of Commerce.
"Inventure is the first phase of a plan to join SBDC and IU resources to help technology companies grow and succeed in an entrepreneurial environment," said Brian Kleber, SBDC south central Indiana regional director, who will run Inventure. "This partnership will foster new bridges for the community, university and local businesses."
An open house yesterday (June 24) was part of a week of events dedicated to boosting entrepreneurship in the Bloomington area.
Inventure will provide a number of services to those who are interested in developing and protecting marketable ideas. Inventure encourages business development in the areas of life sciences and information technology, but other types of entrepreneurship are welcomed. Inventure staff can provide entrepreneurs with regional networking opportunities and some business training and also help entrepreneurs gain access to seed and venture capital. Inventure will also provide space at the IU Research Park to promising young companies. Entrepreneurs need not be formally affiliated with IU to take advantage of Inventure's assistance.
"This will be a boon to aspiring business people in southern Indiana," said Coyne, who will serve as Inventure's IU liaison. "By encouraging brilliant minds to put down roots in the area, we hope Inventure will help put the plug in Indiana's 'brain drain.'"