News

Renewed Entrepreneurship Initiative Attracts New Funders

Elevate Ventures

March 31, 2021

Indianapolis-based Elevate Ventures and Northeast Indiana Regional Partnership today announced a three-year renewal of Elevate Northeast Indiana.

Elevate Northeast Indiana launched in April 2017 with $2.5 million raised as a partnership between Elevate Ventures and the Regional Partnership to boost entrepreneurship and innovation across the 11-county region.

Initiatives within the partnership include investments in local high-growth, high-potential businesses, portfolio services, events for entrepreneurs and investors, business coaching, access to professional resources and more. Since the partnership launched, 16 transactions have been completed through various Elevate programs totaling $3.7 million. Companies receiving the investments currently employ approximately 125 people.

“We are excited to continue the great work of Elevate Northeast Indiana with the continuation of the partnership between the Regional Partnership and Elevate Ventures,” said Dr. Michael Mirro, Elevate Northeast Indiana board chair. “Our corporate investors are integral and truly catalyze the growth and success of the northeast Indiana communities by investing in our entrepreneurial ecosystem.”

Elevate Northeast Indiana plans to continue carrying out its core mission by focusing on high-growth, high-potential businesses. Also, the previously announced partnership between Elevate Northeast Indiana and Eleven Fifty Academy, a non-profit coding academy, will continue to expand across the region and support the local business community by training new cybersecurity and programming talent.

“I believe this partnership is crucial for Northeast Indiana to be a leader in our state as we focus on innovation and entrepreneurship as a key driver of high-skill, high-wage jobs, building new headquarters and attracting and keeping our talent,” said Chris LaMothe, CEO of Elevate Ventures.

Thus far the partnership has received commitments totaling over $800,000; fundraising continues with the goal of reaching $1 million. Several funders renewed their commitments and the initiative garnered support from new donors as well.

Current funders include:

“Ruoff Mortgage is proud to partner with Elevate Ventures in helping the organization further its mission of fueling innovation and supporting entrepreneurship in Indiana,” said Ruoff Chief Financial Officer Sarah Earls. “As a growing company led by entrepreneur Mark Music, we know firsthand the positive impact the growth of young companies can have on our community through job creation that retains and brings talented individuals to our state.”

“Lake City Bank is committed to the economic growth and vitality of Northeast Indiana and we are pleased to continue our long relationship with the Elevate Ventures team,” said David Findlay, president and CEO of Lake City Bank. “Lake City Bank and Elevate Ventures share a vision of the future for our region, and it is built upon a foundation of entrepreneurial aspirations in our communities. We’re excited to partner with Elevate and look forward to bringing together to build on our shared confidence in the future of the region.”

Click here to apply for Elevate Ventures’ investment and advisory services.

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