GLOSSARY 21st Century Technology & Research Fund (21 Fund): The goal of the 21st Century Fund is to support the resolution of next-stage capital formation issues by coinvesting with institutional investors in order to further build innovative, high-impact, high-growth companies. The 21 Fund’s maximum investment size is $1 million per company. Advanced manufacturing sector (AM Sector): This definition, usually defined by class of investment, generally references companies that produce technologically complex products using high-level design skills. Business Ignition Systems (BIS) Toolkit: Elevate Ventures’ Business Ignition System is a set of flexible and validated business tools developed by investors to help their portfolio companies think through building a business and avoid typical pitfalls. Commitment: A term that indicates an investor has “officially” committed funds to a company, but the funds have not yet been transferred and/or received by the company at that time. Corporate Partnership for Economic Growth (CPEG): The Corporate Partnership for Economic Growth represents an ongoing effort to engage regional business leaders and promote the long-term growth and prosperity of Northern Indiana. Economic Gardening Program: Elevate Ventures Economic Gardening is designed to provide significant sophisticated technical assistance to identified secondstage companies that have the intent and capacity to grow their business. Entrepreneur-In-Residence (EIR): An Entrepreneur-InResidence is a position or title within the venture capital industry typically held by a seasoned entrepreneur who is brought on-staff by a venture capital firm, university or other organization. Follow-on capital: “Follow-on capital” is a subsequent investment made by an investor who has made a previous investment in the company, general a later stage investment in comparison to the initial investment. Indiana Angel Network Fund (IANF): The Indiana Angel Network Fund is a source of seed capital dedicated to discovering and nurturing emerging, high-potential, innovation-based companies within the State of Indiana. This IAN Fund strives to empower entrepreneurs to create novel new businesses or transition existing businesses to address customer problems. Indiana Black Expo: An organization that acts as a voice for the social and economic advancement of AfricanAmericans. Indiana Community Development (ICD) Fund: The Indiana Community Development Fund (ICD Fund) provides startup capital to Indiana companies by supporting community-interested assets focused on early-stage Indiana companies in Indiana with high growth potential.
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Information technology sector (IT Sector): This definition, usually defined by class of investment, generally references companies in the branch of engineering that deals with the use of computers and telecommunications to retrieve, store and transmit information LaunchPad: An open-floor concept in the second level of the Chamber of Commerce building in Goshen, IN. Meant to be a co-working space for entrepreneurs and service providers in the community. Minority Business Development Agency (MBDA): The Minority Business Development Agency supports job growth and economic expansion. It is a job-creating agency, leading Federal efforts to promote the growth and global competitiveness of America’s minority business community. Outlier: Outlier LLC assists economic development agencies in dramatically increasing the effectiveness of their programs by focusing attention on high-growth firms. “Qualified leads”: Qualified leads are those leads – companies - that are collected by Elevate staff and that meet investment criteria necessary for funding and/or the requirements of an Elevate program. Quick Start: A one-year bridge strategy to the longer REAP initiative (see above term). It included the launch of such programs as the Elevate Ventures Economic Gardening Program, the Entrepreneur-In-Residence Program, and the Angel Network Program (see the term Indiana Investor Network). Regional Entrepreneurship Action Plan (REAP): This plan, also shortened to the “REAP,” is a three-year initiative designed to spur economic growth and activity in the Indiana regions. The plan was launched in 2012 in the Northern Regions and will soon expand to the rest of the state. SaaS: Expanded, this term means “software-as-a-service” or “on-demand” software. The term references a software delivery model in which software and associated data are centrally hosted on the cloud. Series B Funding Round: The second round of financing for a business by private equity investors or venture capitalists. Seth Godin: Seth Godin is a best-selling author, businessman and marketing pioneer. He has also founded several companies, including Squidoo and Yoyodyne, which pioneered permission marketing. State Small Business Credit Initiative (SSBCI): a program that was funded with $1.5 billion by the Small Business Jobs Act of 2010 to strengthen state programs that support lending to small businesses and small manufacturers Techpoint: An Indiana initiative that empowers highgrowth Indiana technology companies through education and networking programs. youngStartup: A not-for-profit that provides investors all over the country and the world with a first look at prescreened high-quality deal flow via venture conferences.