July 7, 2009

New technologies, economic opportunities to be presented at inaugural Indiana Innovation Showcase

More than 250 entrepreneurs, venture capitalists, angel investors and economic development leaders will participate in the invitation-only program scheduled for 2-7 p.m. at the Purdue Technology Center. The center is located in the Purdue Research Park at AmeriPlex-Indianapolis near the Indianapolis International Airport.

"Most entrepreneurs are busy building their businesses, and it is a rare opportunity for them to spend time with each other, with business leaders and with investors at the same time," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which sponsored the program with the Indiana Venture Club and the Indiana Economic Development Corporation (IEDC). "The goal of the showcase is to give entrepreneurs time to share best practices, network with potential investors and get to know business leaders in the state."   

Speakers for the program include Gary Anderson, retired managing general partner and senior adviser of TL Ventures, and the program's keynote speaker; Joseph B. Hornett; Steve Hourigan, director for the 21st Century Fund and entrepreneurship, IEDC; Faraz Abassi, president, Venture Club of Indiana; John Hanak, statewide director, Purdue Technology Centers, Purdue Research Foundation; and Bruce Kidd, senior vice president, Walker Information Inc.

"Our goal is to help entrepreneurs be a success, and we want them to leave the showcase with new ideas and with a renewed sense that there are people and organizations they can turn to for help and advice," Abassi said.

Entrepreneurs participating in the showcase have already raised more than $100 million in funding for their firms. Participating companies include: Kylin Therapeutics Inc., West Lafayette; CMT: Comfort Motion Technologies, Anderson; First Precision LLC, Merrillville; Ikotech LLC, New Albany; Indiana Nanotech LLC, Indianapolis; Wolf Technical Services Inc., Indianapolis;  OrthoPediatrics Corp., Warsaw; and Vontoo Inc., Indianapolis. A full list of participating companies can be found at:  https://image.exct.net/lib/feed1178716d0c/d/1/Innovation%20Showcase%20Companies%2006-25-09.pdf

"Regardless of the potential of a new technology or product, raising enough capital in the early years of a business is one of the toughest challenges facing an entrepreneur," said Hourigan. "It is important to keep promising new companies in our state to keep our economy strong, especially when you realize that more than 90 percent of employers in Indiana are found in small businesses."

The 80-acre Purdue Research Park at AmeriPlex-Indianapolis is part of the 1,000-acre AmeriPlex business park, which is under development by Holladay Properties Inc.

About Indiana Venture Club

The Venture Club of Indiana is a member-based, volunteer-led organization that thrives on the ideas and efforts of its members since its inception in 1984.  It is dedicated to helping entrepreneurs, investors and the professional community in the realm of economic development.

About Purdue Research Park

With more than 185 companies, the Purdue Research Park has the largest university-affiliated business incubation complex in the country. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. For more information, visit https://www.purdueresearchpark.com.

About IEDC

Created by Gov. Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information, visit www.iedc.in.gov

To the Purdue Research Park, https://www.purdueresearchpark.com

Purdue Research Foundation contact: Cynthia Sequin, 765-494-4192, 765-413-6031 (mobile), casequin@prf.org