By: Jim Jay
As calendar year 2010 comes to a close, I find myself thinking about how much Indiana’s tech sector has achieved during the deepest economic downturn since the Great Depression. A handful of successful deals, investments and other Indiana technology and entrepreneurship news made national headlines, which is good for the state – raising our profile as a collective geographic industry and earning credibility for our products, services and brands.
The high profile announcements only tell a fraction of the industry’s success, because while almost every single U.S. employment sector experienced moderate to significant declines, Indiana’s technology companies increased their sales revenue and total tech sector employment. If the global economy does begin its slow but steady recovery as many economists predict, Indiana’s tech sector is in an enviable position to capitalize upon a number of critical advantages including:
* The Indiana 21st Century Research and Technology Fund
* Double-digit increases in venture capital coming into the state for three years
* Skilled technical grads from in-state universities ranked among the best
* Tech-friendly business climate with reasonable taxes and valuable incentives
* High energy, continued momentum and resources for homegrown startups
* Cooperative-competitive environment (instead of cut-throat like the coasts)
* Indiana’s Venture Capital Tax Credit is a immediate return on investment for angel investors to invest in Indiana tech companies
As a constant catalyst for growth, TechPoint has produced more than 40 industry educational and networking events this year; invested more than $3 million in Indiana startup firms through the Halo Capital Group; launched new initiatives focused on supporting burgeoning microsectors health information technology (HIT) and measured marketing; and advocated for pro-growth, pro-tech public policy with the Indiana legislature.
In 2011, TechPoint will continue to serve the industry providing all of the programs and events that you have come to expect, along with a couple of additions and emphases such as:
* TechPoint will launch a fourth Roundtable Series in 2011 – CFO Roundtable
* Numerous new digital resources, such as a statewide technology business directory, Indiana applications directory and the Indiana technology newswire
* Increased support for startup companies
* “Place” assistance, providing adequate and affordable real estate
* Filling in the capital gaps, particularly for early-stage tech businesses
(More information to come on these ideas in January)
Indiana’s technology leaders and entrepreneurs have proven that they are experts at doing more with less – the industry would not have grown and thrived during the recession otherwise. Now that the economy may be on the road to recovery, TechPoint is committed to fulfilling its mission of accelerating growth in the sector through a battery of effective programs and services with which you are probably familiar, as well as some new ideas designed to meet current industry needs.
The TechPoint staff and I are looking forward to all of the opportunities and challenges we will face together in 2011. We hope you will continue to be a positive contributing member of Indiana’s tech sector by staying involved with Indiana’s preeminent technology initiative.
