Plan Puts $1B Focus on Entrepreneurship
Pence detailed the plan during this year's Innovation Showcase.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPrivate sector stakeholders are weighing in on Governor Mike Pence’s $1 billion proposal to make innovation and entrepreneurship a bigger priority in the Indiana economy. Over the next decade, the governor says funding and resources will be spread around to young Hoosier businesses, startup programs and educational initiatives supporting next generation employers and discoveries.
During a presentation at this year’s Innovation Showcase at the Dallara IndyCar Factory in Speedway, Pence stressed the important role the private sector will play in advancing the plan. Speaking directly to investors at the event, Pence said "the power of this initiative is connecting the right high-growth companies with the right investors." A key component is Pence’s requested commitment from the Indiana Public Retirement System, which he says could also stimulate hundreds of millions of dollars more toward early-stage and mid-market companies. Pence wants a portion, $500 million over 10 years, of the INPRS $30 billion investment fund to be focused on targeting entrepreneurs.
Indiana Department of Agriculture Director Ted McKinney says “it’s huge for all of Indiana.”
Launch Fishers founder John Wechsler believes the state’s increased focus on entrepreneurship could boost the global profile of some industries in the state.
Indianapolis-based High Alpha Managing Partner Scott Dorsey says the program is a big play for potential investors.