Driving a defense innovation ecosystem
Last week, Indiana University economic development leaders participated in a defense industry roundtable discussion with U.S. Sen. Todd Young. The event was hosted by the Crane Regional Defense Group at WestGate@Crane Technology Park.
IU Vice President for University Relations Michael Huber and Joe Carley, IU director of economic development, were among 60 representatives from Indiana’s public and private sectors who convened to talk about the continued transformation of WestGate@Crane into a major hub of research innovation, entrepreneurship and educational programs in the 11-county Indiana Uplands region.
Huber and Carley were among a select group of attendees invited to provide brief overviews of their organizations and how their current initiatives are contributing to the development of Crane and the Uplands region, where IU continues to be deeply and actively engaged in working with local, state and federal leaders in igniting a dynamic innovation ecosystem.
IU was also one of the first universities to champion and support the recently enacted CHIPS and Science Act, which Sen. Young co-sponsored. The $280 billion bipartisan bill is expected to have a major impact on the development of WestGate@Crane and the surrounding region.
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Statehouse Update
The eighth week of the legislative session was a planned short week as the House and Senate reached third reading deadlines on Monday and Tuesday respectively. Bills must pass on third reading out of their originating chamber to still be eligible to become law in the second half of session. Of the 670bills filed in the House, only 178 or 26%, survived. The Senate passed even fewer bills—167 or 35%, of the484 filed. The 345 remaining bills will be assigned to the opposite chamber’s committees and will be eligible to be heard in committee beginning next week.
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Economic Engagement Update
Indiana leads the U.S. in pharmaceutical exports
A new report from Indiana life sciences initiative BioCrossroads shows that Indiana leads the U.S. in pharmaceutical exports, according to new data from the Indiana Business Research Center at the Indiana University Kelley School of Business.
Indiana has been one of the top three states in exports for all life sciences products -- pharmaceuticals, medical device and agbiosciences -- for more than a decade. In 2022, $13 billion of these products were shipped all over the world. In addition, 2022 saw a record amount of venture capital raised by Indiana start-ups for the third straight year -- increasing to $620 million, an increase of nearly $200 million from 2021.
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IU Ventures invests in Indianapolis-based Boardable, developer of board management software
IU Ventures, the early-stage venture and angel investment arm of Indiana University, has invested in Indianapolis-based technology firm Boardable, a developer of online board management software. IU Ventures’ investment was part of Boardable’s recently closed Series A financing round, which netted the company $2.6 million.
Boardable was co-founded in 2016 by IU alums Jeb Banner, the company’s former CEO, and Joe Downey, a senior developer. Boardable currently has approximately 2,000 customers across 41 countries, and it serves companies ranging from small- and medium-sized businesses to large enterprises.
“IU Venture’s support of Boardable in our most recent round of funding was critical,” said Banner. “It signaled to other investors that we had the support of an experienced, trusted investor, and it gave us the funds to execute a plan that now has us on track to be sustainable for years to come.”
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IU in the news
‘Pathway to Medicine’ will create direct track to medical school for IU Indianapolis undergrads
An innovative new Indiana University program will provide a direct path to admission at the IU School of Medicine for eligible first-year students admitted to the School of Science at the future IU Indianapolis. The combined bachelor’s/M.D. degree program will give the state’s future doctors and medical researchers a head start in their medical school journeys and help bolster the ranks of Indiana’s health professionals.
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Celebrating the achievements of IU pediatric research program
In her most recent blog, Indiana University President Pamela Whitten spotlights the remarkable achievements of the Department of Pediatrics at the IU School of Medicine, which continues to improve the lives of families in Indiana and beyond through its world-class pediatric research program, a collaboration with Riley Children’s Health. Now ranked seventh in the nation in National Institutes of Health funding, the department is home to the only nationally ranked pediatric research program in Indiana and the top-ranked program in the Midwest.
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IUPUI awarded the 2023 Innovation Award in Internationalization
IUPUI was awarded the 2023 Innovation Award in Internationalization at the annual conference of the Association of International Education Administrators. The award, established in 2015, highlights exceptional programs, projects or initiatives that advance internationalization and are directed by senior international officers on their respective campuses.
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