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A report released this spring by Startup Genome and commissioned by Indiana Economic Development Corp. reveals what many Indiana business and government leaders have long known and touted: Hoosier as an entrepreneur. We have identified it as an innovation hotspot.
This report is a testament to the state’s vision and foresight to focus on economic strategies designed to translate scientific discoveries into new businesses and quality jobs for Hoosiers. Indeed, Indiana’s business and government leaders are keenly aware that emerging start-ups can be a major engine of economic growth.
As Indiana Secretary of Commerce Brad Chambers recently noted, Indiana is now cementing the state’s reputation as a global destination for entrepreneurship and innovation, further revitalizing its startup culture, and enhancing its capabilities. We have all the economic momentum because we are trying to strengthen the business environment to enhance. Compete nationally and globally for the high paying industries and jobs of the future.
But to keep this momentum going, we need to do more to enable more Indiana students, including at the college and university level, to become successful innovators, entrepreneurs, and investors, expanding their career options. need to strengthen. And this education must go beyond the basics of business. Last year, Indiana University began piloting her IU Venture Fellows program. The program aims to educate and introduce IU’s graduate students to the world of venture capital finance.
Developed by IU Ventures, the university’s venture investment arm, in partnership with multiple IU schools and centers, the 12-month program is expected to “graduate” its first fellows and take on its second class later this year. . This year’s Fellow is immersed in his VC through real-time projects, deals his exposures, and internships, with a wide range of educational interests ranging from business management and entrepreneurship to microbiology and public relations.
One of the current fellows, Daniel Marnatti, is a second-year graduate student in food and agriculture sustainability at IU’s O’Neill Graduate School of Public and Environmental Studies, and had a background in venture capital before joining the program earlier this year. I had limited knowledge. Samtec’s Corporate Venture Arm, after a summer internship at BlueSky Capital, in developing future market-driven solutions to reduce farmers’ use of natural and synthetic fertilizers that contribute to harmful nutrient pollution of waterways. , has helped analyze and assess current challenges and opportunities. He is also looking at ways to help farmers save money through the development of agricultural technology.
Indiana’s leading research universities are poised to play an even bigger role in building the state’s economy and important emerging industries such as advanced manufacturing, defense, life sciences and technology in the coming years. increase. IU has top-ranked programs in entrepreneurship and classes focused on helping students develop new business ideas, including the Johnson Center for Entrepreneurship and Innovation and the Shoemaker Innovation Center. We have the best educational initiatives.
In recent years, IU, Purdue University, and Notre Dame University have significantly enhanced entrepreneurship and innovation programming, business partnerships, and investments to bring student ideas and innovations to market. In addition, many of the state’s most active venture capital firms increase funding, knowledge exchange, mentorship, and learning opportunities for college students.
These activities reflect that higher education in Indiana is a place where creativity, innovation and talent are nurtured. Our homework as community, education, industry, and policy leaders is to actively use every opportunity to provide our students with the education and support they need to start and lead the successful businesses of tomorrow. to pursue.
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Armstrong is the President and CEO of IU Ventures.
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