IU President Whitten announces $250M investment in biosciences during annual State of the University address
In her annual State of the University address last month, Indiana University President Pamela Whitten announced that IU will invest more than $250 million to accelerate research in biosciences, biomedical engineering, and health and wellness.
One of IU’s largest-ever strategic investments in these key sectors, the effort will establish two pioneering, multidisciplinary research institutes at IU Indianapolis as anchors of the new IU Science and Technology Corridor. With an emphasis on research aimed at improving the health of Hoosiers, the Convergent Bioscience and Technology Institute and the Institute for Human Health and Wellbeing will attract investments, create startup businesses and accelerate Indiana's vibrant biotech sector.
This game-changing commitment also includes investing more than $93 million to hire and support new faculty members in the life sciences on the IU Bloomington campus, advancing the goals of the campus’s Faculty 100 initiative.
“Indiana University’s multimillion-dollar strategic investments in the biosciences will ensure IU continues to be at the forefront of driving life-changing discoveries and advancing a robust health care and life sciences ecosystem in Indianapolis and across the Hoosier state,” Whitten said. “By establishing two major research institutes at IU Indianapolis, expanding life sciences research on our Bloomington campus, and enhancing our industry and community partnerships, we will accelerate the impact of IU research and development. We’ll also spur new businesses, high-paying jobs and dramatically better health outcomes for the people of Indiana and beyond.”
Read the full story, including what Indiana Gov. Eric Holcomb and other state government and industry leaders are saying about IU’s historic investment.
Read the president’s full State of the University address, including updates on the progress IU is making to advance the key pillars of the IU 2030 strategic plan.
Economic Engagement Update
Launching IU Innovates
Indiana University has officially launched IU Innovates, a new university-wide initiative that expands support for students and faculty in the creation and growth of startup ventures.
Strategically headquartered at the historic Von Lee building on Kirkwood Avenue adjacent to the IU Bloomington campus, IU Innovates serves faculty and students across the university, while providing a focal point for the university’s efforts to accelerate entrepreneurship and innovation. Julie Heath, who recently served as vice president of entrepreneurial ecosystems for the Indiana Economic Development Corp., will serve as the inaugural executive director of IU Innovates.
“IU Innovates unifies our support for student success in entrepreneurship, strengthens the bonds between our research endeavors and industry, and propels business ideas that will fuel economic growth and catalyze Indiana’s flourishing startup community,” said IU President Pamela Whitten at an internal celebration last week to inaugurate the new initiative. “Our goal is clear: to create a more holistic and integrated infrastructure that empowers the entrepreneurial spirit of our students and faculty.”
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Building a robust and reliable workforce pipeline
To help students maximize their education and career preparation while also introducing talent to the state’s workforce pipeline, the Kelley School of Business at Indiana University Indianapolis is launching a new, industry-leading program linking current students to the state’s leading companies.
The Kelley Indianapolis Business Plus Co-op is just the latest initiative at IU Indianapolis that will strengthen the link between the university and industry, create new student opportunities and help meet the region’s talent needs. Designed as an intensive undergraduate course where students alternate between semesters of academic coursework and full-time paid work, the program will be delivered in partnership with prominent Indianapolis companies.
“The Business Plus Co-op is the product of our commitment to deliver excellence through innovative programs for our students while creating the highly prepared talent that is essential to the state’s economic vitality,” said President Whitten. “We’re both preparing students for rewarding careers and partnering with the state’s leading businesses to build a robust and reliable workforce pipeline that positions Indiana as a global economic powerhouse.”
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Kelley Futurecast: US economy will slow slightly in first half of 2024, but end year stronger
Buoyed by an expected steady decline in inflation, an economic forecast from the IU Kelley School of Business is optimistic in projecting that the economy will slow modestly in the first half of 2024 and then reaccelerate in the second half of the year.
The state’s employment and income trend lines will mirror those of the U.S., but at lower rates of growth. Income growth is forecast to decrease in the first third of 2023 but then stabilize at just under 4% in the Hoosier state.
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IU in the news
Trustees approve $45 million in major research lab renovation, student housing design
The IU Board of Trustees approved four items from the Facilities and Auxiliaries Committee meeting Nov. 10, including $45 million in research laboratory renovations that are part of IU’s more than $250 million investment in biosciences and $111 million investment in microelectronics.
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IU awarded $5 million grant to find ways to transform adolescent opioid use disorder care in Indiana
IU School of Medicine researchers are taking steps to improve the accessibility and quality of care for adolescents experiencing opioid use disorder and other substance use disorders, thanks to a new $5 million grant from the National Institute of Health’s Helping to End Addiction Long-Term (HEAL) Initiative.
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IU receives 2023 College Success Program grant from Indiana Commission for Higher Education
The $1 million grant will support 12 full-time, dedicated student success coaches focused on IU’s 21st Century Scholars. These coaches will be placed across all IU campuses and regional centers and in IU’s online education program.
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