Investment to boost innovation and entrepreneurship not only is a strategic priority of Indiana University and its Innovate Indiana initiative. It is a priority for Indiana itself.
Such was evidenced Thursday when Indiana Gov. Mike Pence annnounced a $1 billion plan to enhance innovation and entrepreneurship statewide over the next decade. The plan was unveiled at the eighth-annual Innovation Showcase being held today in Speedway at the Dallara IndyCar Factory.
According to the Indianapolis Business Journal, the Indiana Economic Development Corp. will guide the effort. In support of it, Pence transferred the state’s Office of Small Business and Entrepreneurship and several of its programs from the authority of the lieutenant governor’s office to the IEDC.
Of the $1 billion allocation, $100 million would be additional state money toward innovation and entrepreneurship programs at state universities — including IU and Indiana University Purdue University Indianapolis. However, allocations would require matching investments from the recipients.
Read more about the plan here.