Indiana Venture Center

What criteria does the Indiana Venture Center use to decide which companies to work with as clients?

The Indiana Venture Center strictly adheres to the following criteria when determining whether or not services can be rendered:

Company leaders that have a high entrepreneurial spirit.
Company must be headquartered in Indiana.
High growth company with the potential to generate millions of dollars of revenues in three to five years.
Company that will create significant employment opportunities in the State of Indiana.

Does the Indiana Venture Center make monetary investments in companies through AngelNet?

The Indiana Venture Center is a 501(c)3 not-for-profit; therefore, the Center is unable to make monetary investments. Through AngelNet, the Center provides a key link between potentially high growth entrepreneurial companies and Angel investors across the State of Indiana.

Does my company have to be based in Indiana to receive services from the Indiana Venture Center?

The Indiana Venture Center only works with organizations based in Indiana. The Indiana Venture Center is working to create significant jobs in Indiana and prevent the brain drain.

What do I have to do to obtain services from the Indiana Venture Center?

Companies are asked to determine whether or not they fit the Indiana Venture Center criteria of a highly scalable Indiana-based company. If the company fits the criteria, they are required to submit a Business Profile, a profile that provides insight into the business and allows the Indiana Venture Center to gauge the level of service that is required. Once the Business Profile is received, the Indiana Venture Center staff collectively reviews the information and, if appropriate, determines the next course of action and contacts the company to set up an introductory meeting.

The Indiana Venture Center did not pick my company as a client. Does that mean that my idea/business is bad?

The Indiana Venture Center’s mission is to serve highly scalable Indiana-based companies. Due to our limited resources, we focus on serving our target market which are high growth, high potential companies that will create significant jobs and help prevent the brain drain – this does not imply that your idea/business is bad; it is simply a lifestyle business or does not meet all of the Indiana Venture Center's criteria.

How do I access AngelNet?

A company must be a client of the Indiana Venture Center before they can be considered to present at AngelNet. Please see the criteria of Indiana Venture Center clients.

What is the difference between a lifestyle business and a high growth entrepreneurial business?

A lifestyle business provides a very good living for the entrepreneurs involved; however, the business will never employ a significant amount of people or create significant wealth for outside shareholders, employees, or the state. A high growth entrepreneurial business is a highly scalable business in a market leading industry that has the potential to generate millions of dollars in revenue each year, employ a significant number of individuals, assist in preventing the brain drain, and possibly change its industry and Indiana.

If the Indiana Venture Center accepts my company as a client, what responsibilities will I/we have?

The Indiana Venture Center works with highly scalable Indiana-based companies that have a willingness and desire to accept assistance from the Center. While working together, the Center expects cooperation, open communication, and information sharing. A trusting relationship must be developed. Further, companies are expected to enter a contractual agreement with the Center in which services and payment are defined. While the Center is privately funded, clients are charged some fees to cover costs incurred by the Center while providing services.

What is the Indiana Venture Center’s relationship with Ball State University, Indiana University, Purdue University, Rose-Hulman Institute of Technology, Butler University, the University of Evansville, and the University of Notre Dame?

The Indiana Venture Center has partnered with seven major research universities in the State of Indiana. Each of these universities has taken a stand to advance entrepreneurs and the Indiana community. By partnering with these universities, we are creating a collaborative alliance to foster: cross pollination of ideas between the schools; encourage assistance in developing methods to create more technology transfer successes in Indiana; create more opportunities for graduates to stay in Indiana; and attract more top students to universities within Indiana.
The Indiana Venture Center has also developed working relationships with many other universities throughout Indiana and is willing to work with any university in Indiana to assist our clients.

Is the Indiana Venture Center a statewide organization?

Although the Indiana Venture Center is located in Indianapolis, we are a statewide organization. The Indiana Venture Center assists high growth, knowledge-based start-up and expanding companies and communities across Indiana. Our goal is to assist in creating a healthy, vibrant, growth economy for the state’s residents.

How can I make a contribution to the Indiana Venture Center?

Contributions to the Indiana Venture Center are always greatly appreciated. The Indiana Venture Center appreciates any donations of money, time, and talent. If money is contributed, you can claim a tax deduction due to the Indiana Venture Center’s 501(c)3 not-for-profit status. Also, the donation of time and talent is used to further the development of the Center’s clients. If you would like to make a contribution, please contact Rod Hainje at rhainje@indianaventurecenter.org.

How is the Indiana Venture Center funded?

Currently, the Indiana Venture Center is fortunate to be privately funded by one individual, Michael Hatfield. A Hoosier native, Mr. Hatfield supports the Indiana Venture Center as a way to give back to Indiana – the place where he was raised and received his morals, values, and education. In the future, the Center plans to become self-sustaining.

Does the Indiana Venture Center have any particular industry focus?

The Indiana Venture Center services are not industry specific. The Center will assist any organization – high tech, low tech, or no tech – that adheres to the following criteria: company leaders have a high entrepreneurial spirit; company must be headquartered in Indiana; high growth company with the potential to generate millions of dollars of revenues by year three; and a company that will create significant employment opportunities in the State of Indiana.

How can my company get assistance from the Indiana Venture Center’s University Partners?

With the vast knowledge and expertise residing in the Indiana Venture Center’s university partners and other universities throughout Indiana, the Center works with both clients and perspective clients on determining whether university assistance is a good match and accessing the specific talent and resources within the specific universities. If the Indiana Venture Center determines there is a good match for both the company and the university, we have a dedicated staff member who will introduce the company to the appropriate school for the desired assistance.

How can my company get an intern?

The Indiana Venture Center assists clients in obtaining student resources in two ways: utilizing an Indiana Venture Center fellow for a short-term project or introducing the company to the university that best matches the skill set needed.

What is AngelNet?

AngelNet is a private network that provides connections, knowledge, and resources for Angel investors and Indiana high growth businesses. This network is a key link between potentially high growth entrepreneurial companies and Angel investors across the State of Indiana. By showcasing emerging companies at Angel-only receptions held at the Indiana Venture Center and via a webinar process utilizing the internet and telephone, Angels meet peer Angels and collaborate on investment opportunities that are not often made widely available.

What is the definition of an “Angel Investor?”

According to the Securities and Exchange Commission (SEC), an accredited Angel investor is:

Any natural person whose individual net worth, or joint net worth with that person's spouse, exceeds $1,000,000; or
Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.