August 25, 2020
INDIANAPOLIS — Trine University is one of 19 organizations across Indiana that have been awarded a total of $164,000 in grants from Elevate Nexus.
The $50,000 grant Trine received is earmarked toward entrepreneurship programming to help build on existing successes.
Jason Blume, executive director of Trine innovation 1, said the funds will be used to purchase equipment and supplies for the Maker Space to be located in the university’s upcoming engineering facilities expansion, assisting students and entrepreneurs in concept fabrication. The grant also will be used to create a series of seminars that will allow successful entrepreneurs to share their insight and experience with the Trine community.
“We are grateful for the support and partnership of Elevate Ventures in expanding the resources and programming available to area entrepreneurs, and to Trine students who aspire to entrepreneurship,” he said. “Like Elevate Ventures, we realize the importance of new businesses and innovations to the economy of this region, and want to do everything we can to assist those seeking to bring new ideas to market.”
Elevate Nexus, an initiative of Elevate Ventures launched in July 2019, partners with higher-education institutions and nonprofit organizations to organize pitch competitions in which entrepreneurs compete for startup funding. The grants represent 10% of the total $1,640,000 in startup investment achieved through the organizations’ efforts.
Other recipients include:
Elevate Nexus hosts seven pitch competitions annually, including six regional and one statewide, with a total of $1,640,000 in investments awarded to startups. The grant recipients are identified by the startup during the application process.
Elevate Nexus is funded by a grant from the U.S. Economic Development Administration and the 21st Century Research and Technology Fund (21 Fund). The 21 Fund, which promotes economic growth and innovation-driven public-private partnerships in Indiana, is overseen by the Indiana Economic Development Corp. and managed by Elevate Ventures.
ABOUT ELEVATE VENTURES
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. To learn more about Elevate Ventures, visit elevateventures.com.
Last Updated: 08/25/2020
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