Support. You really can’t get anywhere without it. This is often made abundantly clear to small business startups in the ideation phase.
You know about the federal funding support that is available through the government-funded Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR), but did you know there are additional #funding opportunities distributed in tandem with these federal awards from state and private investors?
One such investor is Elevate Ventures. Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. To learn more about Elevate Ventures, visit elevateventures.com.
Who is a good fit?
When entrepreneurs are in a strong position to seek funding, the Elevate Ventures team helps them identify the best funding type for which to apply and makes sure they put their best foot forward in their application. As entrepreneurs move closer to acceptance, we assist them through our multilayered approval process so that they progress confidently.
Businesses that fit the Elevate Ventures model have a few things in common:
- They are a startup based in or interested in relocating to Indiana.
- They are generally involved in Agriculture, Life Sciences, Information Technology, Advanced Manufacturing or Medical Devices.
- They are in the Ideation, Early or Growth stage of development.
Determine where you are in the development of your business and begin to see how Elevate Ventures might help by exploring our primary funding types.
Community Ideation Fund
Elevate Ventures’ Community Ideation Fund enables ideation-stage high-potential companies to move closer to a specific, measurable technology or product development milestones through an investment between $5,000 and $20,000. Eligible applicants include Indiana-based companies with headquarters in communities under a partnership with Elevate Ventures, and with no more than $50,000 in trailing revenue over the past 12-month period.
Elevate Nexus Pre-Seed & Seed Funds
Every year, Elevate Nexus will award pre-seed and seed awards to startups launching the next high-growth businesses in Indiana. Regional pitch competitions will occur twice a year providing funding in the form of convertible notes. Regional pitch winners will be welcomed to an annual statewide competition where investments are even larger. Learn more about Elevate Nexus.
Elevate Ventures Purdue Foundry Fund (Fully Deployed)
Giving black and gold a whole new meaning, the Elevate Purdue Foundry Fund is an established partnership between Elevate Ventures, Purdue Foundry and the Indiana Economic Development Corporation that awards companies funds at two levels: Black Award value up to $20,000 per award; Gold Award value up to $80,000 per award.
High Potential Startup Grant (Fully Deployed)
It can take just one hurdle coming down to propel a business forward. To help entrepreneurs overcome hurdles to attain a particular measurable outcome or milestone, Elevate Ventures developed High Potential Startup Grants. This pre-seed program encourages entrepreneurialism in specific communities by awarding between $5,000 and $25,000 to high-potential startups in regions where communities have invested in entrepreneurialism.
SBIR/STTR Grant Matching
The Small Business Innovation Research and Small Business Technology Transfer, or SBIR/STTR, programs are the largest source of early-stage technology financing in the United States. In Indiana, Elevate Ventures matches $.50 toward every federal dollar awarded, for up to $50,000 in Indiana match per federal award. Any given company, including subsidiaries, has a lifetime maximum of $150,000 in total Indiana match. SBIR/STTR programs are highly competitive and encourage small businesses to explore their technological potential. Funding is available from 11 participating agencies throughout the United States and focuses on various technological areas. Click here to learn more about SBIR/STTR Grant Matching.
We work with high-growth startups and organizations that support the startup and innovation ecosystem. We build highly specific non-dilutive funding menus, provide proposal preparation services, and measure outcomes of funding through evaluation. Schedule a consult call with us HERE.