INNOVATE INDIANA:
Economic Development at IU
Bill Stephan
Vice President for Engagement, Indiana University
Tony Armstrong
President & CEO
Indiana University Research & Technology Corporation
November 12, 2009
IU Office of Engagement
Mission
• Coordinate university’s vast resources
• Connect those with the public and private sectors
• Stimulate economic development
• Enhance quality of life for Hoosiers
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OVPE Staff
Tony Armstrong
Assistant V.P., President & CEO
IURTC
David Gard
Executive Director
Rebecca Carl
Director of Operations
Planning and Communications
Ted Widlanski
Associate V.P., Indiana University
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Chemistry Professor
OVPE Focus Areas
Enhancing
Science and
Technology
Increasing
access to
capital
Engagement &
Economic
Development
Expanding
Research
Infrastructure
Technology
Commercialization
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ANGEL Learning Transaction
• Software company created almost a decade ago by the
faculty at the School of Engineering and Technology on
the IUPUI campus
• Blackboard Inc., a major educational software provider,
purchased ANGEL Learning for $100 million
• Indiana University realized $24.1 million from the sale
Innovate Indiana Statewide Activities
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Gary Healthcare/Hospital Study
•Engaged national healthcare consultant to develop new hospital model
and Indiana Business Research Center to assess economic impact of
potential Gary hospital adjacent to IUN.
•Report instrumental in helping secure $3M in additional community
planning resources
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Southeast Indiana
Small Business Development Center
• IU, Purdue and IVY Tech entered agreement for
new SBDC at Purdue Tech Center in New Albany
• Leverages resources and expertise of IUS
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Evansville Regional
Engagement Office
• Partnering with Purdue for new physical presence at
Innovation Pointe
• Will serve as “gateway” for greater connectivity
of IU resources and expertise with Southwest Indiana
business community
• Provides economic development resources
• New Director on board
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IU Research & Technology Corporation
(IURTC)
• Vice President for Technology
Commercialization hired in Spring 2009
• Established Innovate Indiana Fund for IUaffiliated start-ups
• IUETC expansion assessment underway
• Created internal survey to assess
customer satisfaction and needs
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Innovate Indiana Fund
• Capitalized with $10 million dollars from
IU and private donors
• Early seed and Late seed funding
• IU School of Medicine
seed fund will be folded into the Fund
• The Fund will be
expanded to include
information technology
• Governing board comprised of
key university stakeholders and
business leaders
IU Innovation Center
•Operated by IURTC and IU Real Estate
•Phase I, 40,000 sq. ft. completed
•Cornerstone of future development of Indiana
University Innovation Park
•50% wet lab space
•Incubator of Life Sciences and IT-based start-ups
•Home for Pervasive Technology Institute
•KSOB and Johnson Center for Entrepreneurship
&
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Innovation, School of Informatics
Innovation Park
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Purdue and IU: Building a Stronger State of Science
… to make Indiana a “hot spot” for research, innovation, and biosciences job growth
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Indiana Innovation Alliance
Technology
Enhanced core research capabilities
Talent
Medical & bio-based education and healthcare innovation
Capital
Matching funds for large-scale, multidisciplinary
research grants
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Indiana Innovation Alliance
• Unprecedented collaboration
• $20 Million appropriated (over 2 years) for core
research and education
• Expansion of medical/health education
programs; Purdue education programs in
strategic areas
• Private sector partners/economic impact
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Additional Engagement Activities
• Indiana-based Defense Initiatives
• IU US-China Business Cooperation
• Support/Sponsorship/Participation
– 21st American Peptide Symposium
– IU Life Sciences Collaboration Conference Series
– BIO International Convention
– State/Regional/Local Economic Development
Organizations
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Thank you
Bill Stephan
Vice President for Engagement
wstephan@indiana.edu
Tony Armstrong
President and CEO
Indiana University Research & Technology Corporation