21st Century Fund
Success Story

Awards - 2005-2007 Biennium

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Summary

During the two-year biennium, the 21 Fund made 38 awards totaling $42,754,599 to Indiana companies.These awards continue to spark exciting new research and serve as a critical catalyst for the development and commercialization of products in a wide variety of industries, including the life sciences, biotechnology, health care, information technology, alternative fuels, and advanced manufacturing. Over the next several years, we expect that these awards will result in the creation of thousands of new high-tech, high-wage Hoosier jobs, as the recipient companies grow and develop in Indiana.

During the two-year biennium, the 21 Fund also made 41 Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) matching awards totaling awarded 99 SBIR/STTR matching awards totaling $9,166,155.68. These awards are used by Indiana high-technology companies to help leverage and attract additional federal funds that support innovative research by Indiana’s small businesses. 21 Fund and SBIR/STTR support enables Indiana’s small businesses to more successfully compete for broader government funding for innovative processes and products, ultimately leading to more jobs in Indiana.

The 21 Fund has seen marked changes in the 2005-07 Biennium. Modifications of award criteria and related processes have resulted in 38 awards quite unlike the grants of the past. While these awards have already created a significant number of jobs with above average earnings in small, high-tech companies, the majority of these projects are still early in their development; therefore, the full weight of their impacts has not yet been felt.