News

Federal Match Program for Indiana Business Expanded

July 27, 2021

INDIANAPOLIS – Elevate Ventures today announced the expansion of its Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) matching program, giving Indiana companies more access to early-stage funding.

Elevate, which manages the SBIR/STTR program in partnership with the Indiana Economic Development Corp., now supports Phase II matching in addition to its longtime support for Phase I.

The SBIR/STTR program is designed to address federal needs for research and development (R&D), as well as to drive technological innovation. The funding is available through 11 federal agencies.

Phase I is used to establish feasibility and potential for R&D efforts and to evaluate company performance and is matched 50% by Elevate.

Further support can be sought through Phase II, which is used to continue the R&D initiated in Phase I. As of July 2021, Elevate will match up to $75,000 per Phase II award and $150,000 per company. Unlike Phase I matching, which comes in the form of a grant, the Phase II match is a standard convertible note.

“The SBIR/STTR program is one of the largest sources of funding for innovation-driven companies at their earliest stage of development,” said Ting Gootee, chief investment officer at Elevate Ventures. “This additional support provides another edge for Indiana companies to compete nationally.”

For fiscal year 2020-2021, 25 companies received $1.3 million in funding from Indiana’s SBIR/STTR matching program, in addition to nearly $6 million in federal Phase I grants. These companies are:

  • Advanced Science and Automation Corp., Indianapolis
  • Akanocure Pharmaceuticals Inc., West Lafayette
  • BDYWR LLC, West Lafayette
  • Consensus Networks LLC, South Bend
  • Continuity Pharma LLC, West Lafayette
  • Engine Research Associates Inc., Fort Wayne
  • Eperture LLC, Columbus
  • Flightprofiler LLC, Newton
  • Grannus Therapeutics LLC, Indianapolis
  • Health Smart Technologies Inc., Zionsville
  • Heliponix LLC, Evansville
  • infoSentience, Bloomington
  • Miftek Corporation, West Lafayette
  • Multiscale Integrated Technology Solutions LLC, Carmel
  • Next Offset Solutions, Inc., West Lafayette
  • Ocella, Inc. (d/b/a Ateios), Newberry
  • Pierce Aerospace LLC, Carmel
  • RightFit Analytics Inc., West Lafayette
  • Spirrow Therapeutics LLC, West Lafayette
  • Star Voltaic LLC, Indianapolis
  • Terran Robotics, Bloomington
  • Trek10 Inc., South Bend
  • Valgotech LLC, Indianapolis
  • Vasculonics Inc., Indianapolis
  • Vennli Inc., South Bend

To apply for Phase I or Phase II matching dollars, support letters or assistance, please click here.

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