Bloomington-Columbus partnership to rev up area innovators

A new partnership between Columbus and Bloomington to encourage entrepreneurship in the region now has a name and a board of directors.

The partnership, first announced in October, will be called Velocities and it is designed to accelerate innovation in South Central Indiana over the next three years by developing an entrepreneurship-minded culture and infrastructure.

The partnership is between Indianapolis-based Elevate Ventures, along with Dimension Mill in Bloomington and the Columbus Area Chamber of Commerce. Cindy Frey, president of the Columbus chamber says the two communities are actually very complimentary.

The $2.5 million agreement includes up to a $1.5 million contribution by Elevate Ventures and a $1 million combined contribution from Bloomington and Columbus. The funding will support initiatives such as investments in local high-potential and high-growth businesses.

Frey says the partnership has already been able to direct local startup companies to funding from Elevate Ventures.

The board membership is split between Columbus and Bloomington organizations. Members include Frey and:

  • Lynn Coyne, President of the Bloomington Economic Development Corporation
  • Pat East, Co-Founder and CEO of Hanapin Marketing and Executive Director of Dimension Mill
  • Dave Glass, CEO of LHP Engineering Solutions
  • Rick Johnson, Jr., President and CEO of Johnson Ventures Inc.
  • Chris LaMothe, CEO of Elevate Ventures
  • Jane Martin, Retired Venture Capitalist

You can hear more from Cindy Frey tomorrow morning on News & Views starting at 9:30 on Saturday  on News Talk 1010 WCSI and 98.1 FM. A repeat airs Sunday at 9 a.m.