The Indiana Economic Development Corporation (IEDC) today announced it will provide more resources to entrepreneurs and small businesses to foster the continued growth of the state’s innovation and entrepreneurial ecosystem. Indiana entrepreneurs, small businesses and investment funds are encouraged to learn more about opportunities to apply for and secure funding to help them grow through the U.S. Small Business Administration’s (SBA) Seed Fund Road Tour, the state’s new technical assistance program and the state’s expanded Venture Capital Investment (VCI) Tax Credit program.
“Indiana is ranked as a top entrepreneurial destination, and we continue to strengthen this ecosystem with even more funding opportunities and free resources and programs,” said Secretary of Commerce David Rosenberg. “By providing comprehensive funding and services from business idea to launch and expansion, we are empowering Indiana entrepreneurs and small businesses to start stronger, grow faster and enjoy long-term success in Indiana.”
Details of available resources and funding opportunities are listed below.
- Learn about state and federal resources for innovators on America’s Seed Funding Road Tour
Indiana will be a stop on the U.S. SBA’s Seed Fund Road Tour on July 16. The event is part of a national outreach effort aimed at connecting innovators and entrepreneurs to non-dilutive technology funding opportunities.Open to Indiana entrepreneurs and startups (both existing and aspiring), as well as representatives from Indiana’s broader innovation ecosystem, including federal partners, researchers, university staff and students, participants will learn more about the many programs, resources and funding opportunities Indiana offers and how they can leverage them to grow and succeed.
Space is limited so those interested should register online as soon as possible.
- Get help applying for startup funding available through Indiana’s state programs
Indiana’s technical assistance programs, made available through federal funding through the State Small Business Credit Initiative (SSBCI), are available to help entrepreneurs and small businesses access and apply for financing opportunities.The SSBCI Technical Assistance Program is specifically designed to assist socially and economically disadvantaged entrepreneurs and small businesses by providing them with no-cost support in applying for and managing capital received through various programs, including SSBCI loans through Legend Fund. Through the program, entrepreneurs and small businesses can connect with technical assistance providers to receive training and assistance in financial documentation, accounting practices, SSBCI program applications, financial management, and developing presentations for investors and loan applications.
Find out more and contact the provider online.
- Encourage investors to back innovators, growth companies and investment funds
Indiana’s Venture Capital Investment (VCI) tax credit is intended to improve access to capital for emerging and fast-growing companies by providing additional incentives for investors to invest in these companies. Pursuant to legislation passed in 2021, venture capital funds supporting Indiana entrepreneurs and startups, in addition to entrepreneurs and startups themselves, can also leverage the VCI tax credit program to help raise capital. Indiana recently approved a paragraph for Bloomington, the first investment fund in the VCI program, which now allows investors in the state to receive a tax credit for capital invested in the company’s funds used to launch new companies and turn ideas into high-growth businesses. This expansion of the VCI will bring even more capital to Indiana’s entrepreneurial ecosystem, helping innovators start stronger and grow faster.Learn more about Indiana’s transferable VCI tax credit online.
