2022 16 TECH COMMUNITY CORPORATION
IMPACT REPORT
LEARN MORE: 16TECH.COM
VISIT: 1220 WATERWAY BLVD, INDIANAPOLIS, IN 46202
SCAN FOR FULL REPORT
Dear Friends,
When I joined 16 Tech five years ago as the second full-time employee and COO, the innovation district existed in concept only and its stakeholders were ready for visible progress following a long period of planning. It was time to show results.
As I approach my first anniversary as the President & CEO, I’m proud to share our first ever Impact Report which can be viewed in full digitally via the QR code on the left.
Our results are undeniable.
16 Tech’s first job was to assemble and prepare the land, historically the site of our city’s water infrastructure. Today, initial public infrastructure is complete, three buildings are home to more than 90 innovation-related organizations, and eight development sites are shovel ready.
While physical space is critical to the overall vision of 16 Tech, we exist as a non-profit to ensure that the space is in service of our mission to accelerate innovation and opportunities for participation in the innovation economy.
That’s why engagement with our neighbors in the Riverside neighborhood has been a part of our work since before 16 Tech was even established. It’s also why ensuring the availability and accessibility of quality entrepreneurial services in 16 Tech is guiding this next phase of 16 Tech’s growth.
In spite of changes to the way people work in recent years, it remains clear that talent needs places to gather, entrepreneurs are more successful when they can quickly connect with resources, and communities that support the growth of their entrepreneurial ecosystem are better positioned to be the economies of the future.
We’re excited to share our progress with you. We thank you, our partners, and our funders for the continued support of our work!
Emily Krueger President and CEO, 16 Tech Community Corporation
16 TECH: INDY'S DESTINATION FOR INNOVATION-DRIVEN ENTREPRENEURSHIP & ENTERPRISE Indiana Ave. 16th Street Indianapolis Cultural Trail Expansion Innovation Building 1 HQO EMC2 Located in the historic Riverside neighborhood 2 Miles from Monument Circle 8 Miles to Indianapolis International Airport
16 Tech Bridge Fall Creek
&
Downtown Indianapolis IU - Indianapolis
White River in Indianapolis
Medical
Research Corridor
Purdue
ABOUT 16 TECH
WHAT IS 16 TECH?
An emerging innovation district in Indianapolis intentionally resourced with facilities and programs to support the tech enablement of the life sciences and advanced manufacturing industries, and the talent that drive their growth.
At full-build out, 16 Tech is expected to be home to facilities and programs that support more than 3,000 jobs in advanced industries.
WHAT IS AN INNOVATION DISTRICT?
Unlike an office park with stand-alone buildings often located in a suburban environment, innovation districts concentrate entrepreneurial resources in urban settings, bringing together startups, corporations, and academia to drive the competitiveness of regions.
WHO OWNS 16 TECH?
Formed in 2015, 16 Tech Community Corporation (16TCC) is the nonprofit (501c3) landowner responsible for the 16 Tech Innovation District. As part of its work, 16TCC attracts private capital and developers to build and operate specialized facilities.
WHAT DOES 16TCC DO?
16TCC leads the physical and programmatic development of the District. We organize our work in the following pillars, each of which includes a unique DEI strategy.
1) Ecosystem Development
2) District Experience
3) Innovation Services
4) Neighborhood & Talent Connections
HOW IS 16 TECH FUNDED?
16 Tech is the result of significant public and philanthropic support that has enabled the physical infrastructure (roads, utilities) necessary to attract vertical development and provided startup capital for 16TCC, including its community engagement efforts.
While 16TCC expects to self-fund its real estate operations over time, the programmatic work that ensures the availability and access to talent, innovation and entrepreneurship programs remains dependent upon philanthropy.
WHO IS 16 TECH FOR?
At 16 Tech, we believe that everyone can be an innovator. Our spaces and programs are intended to be accessible to the diverse people and ideas that are key to a vibrant entrepreneurial ecosystem.
WHY 16 TECH?
We believe that through density, proximity, and interaction, innovation will take place at a faster rate, with greater success and with elevated impact on our economy, also enabling 16 Tech to attract business and talent to Indianapolis.
By concentrating shared resources including labs and makerspaces, along with entrepreneurial services and talent programs, 16 Tech makes it as efficient as possible to start and scale companies, launch new products, and hire diverse talent.
ACTIVE BUILDINGS
Innovation Building 1 (Opened 2020) Home to Indiana Biosciences Research Institute, IU School of Medicine, CICP and shared lab space for life science startups.
HQO (Opened 2021) Innovation hub featuring coworking and flexible office space, Machyne makerspace and the AMP food hall.
Emerging Manufacturing Collaboration Center (Opened 2022) A cross-sector manufacturing innovation center that enables its members to design and deliver cutting edge manufacturing technologies.
BY THE NUMBERS 1.9K FOLLOWERS 6.3K FOLLOWERS 15.2K FOLLOWERS 2.5K FOLLOWERS IN-KIND CONTRIBUTIONS Inclusive of memberships, space rentals & events $500,000+ SINCE INCEPTION IN 2022 700+ PEOPLE WORKING IN 16 TECH 55 START UPS 90+ COMPANIES & ORGANIZATIONS LOCATED IN 16 TECH 550 TOTAL CONSTRUCTION CONTRACTS XBE CONSTRUCTION SPEND EVENTS IN HQO $127 MILLION $48.2 MILLION 65% MINORITY-OWNED/LED & WOMEN-OWNED/LED IN THE AMP 50% NEW CONCEPTS IN THE AMP RESTAURANTS & RETAILERS 20+
$1.3 M INVESTED IN THE SURROUNDING NEIGHBORHOODS 40 COMMUNITY INVESTMENT FUND GRANTS AWARDED 1 NEW BUILDING 250K SQUARE FEET TOTAL OPERATIONAL OFFICE, LAB & RETAIL SPACE IN 16 TECH UNIVERSITIES IN 16 TECH Venture Non-Profit University Technology Other* Life Sciences Advanced Manufacturing/Hard Tech 5% 4% 2% 9% 35% 20% 24% *Includes professional services 10,000+ PARTICIPATING NEIGHBORS
CREATING AN INNOVATION DISTRICT FROM THE GROUND UP
16 Tech encompasses 50-acres that until 2020 was the largest parcel of land that had never been developed in downtown Indianapolis. The land is also the long-time location of Indianapolis’ water infrastructure, causing complexity in development which deterred private investment until the formation of 16 Tech. With its first phase of infrastructure projects complete and three active buildings seeding the district with diverse industry tenants and key entrepreneurial supports, 16 Tech has emerged from its planning and startup phases and is now poised to become an active, thriving innovation district that is home to additional companies and innovation opportunities.
EMERGING DISTRICT Attracting Investment
ACTIVE DISTRICT Recruiting Anchors
GLOBALLY SIGNIFICANT DISTRICT Mature & Self-Sustaining
Source: The Role of Anchors: Lessons from International Innovation Precincts, NSW Government, September 2022.
Innovation Districts Stages of Maturity
PROJECTS COMPLETED IN 2022
EMERGING MANUFACTURING COLLABORATIVE CENTER (EMC2)
OPENED: MAY 2022
16 Tech celebrated the grand opening of EMC2, home to GE Additive, Amazon Web Services, IEDC, 24M, the Battery Innovation Center, Indiana 5G Lab, ARI, the Indy Autonomous Vehicle Challenge/ESN and Megha AI.
BREEDLOVE LANE
OPENED: JUNE 2022
Community members participated in a social media-powered road naming campaign to name a new road completed in 2022. The winning selection honors entrepreneur and philanthropist Madam C.J. Walker (born Sarah Breedlove).
STRUCTURED PARKING
OPENED: JUNE 2022
16 Tech opened a 650-space parking garage featuring electric vehicle (EV) chargers. The project was funded by the City of Indianapolis and Indiana University Health.
ECOSYSTEM DEVELOPMENT
Our goal: Attract anchors, tenants, and partners that connect and strengthen the innovation ecosystem
INFRASTRUCTURE TO DATE
$104 MILLION
$45 MILLION
VERTICAL DEVELOPMENT TO DATE
$150 MILLION
$41 MILLION $109 MILLION
INFRASTRUCTURE PROJECTS COMPLETED OR IN PROGRESS BY 16 TECH
ESTIMATED CAPITAL NEEDED TO COMPLETE 16 TECH INFRASTRUCTURE
TOTAL CAPITAL INVESTED IN VERTICAL DEVELOPMENT
CAPITAL INVESTED BY 16 TECH
CAPITAL INVESTED BY THIRD-PARTY DEVELOPERS
REMAINING TO BE DEVELOPED
9 PARCELS ESTIMATED TOTAL INVESTMENT IN 16 TECH BY 2030
$600 MILLION
DEI STRATEGY: Create equitable opportunities for participation in all aspects of the development of 16 Tech and connect district anchors and tenants to best practices in procurement and inclusive talent.
DISTRICT EXPERIENCE
Our goal: Create a welcoming, inclusive, and vibrant culture in 16 Tech
550
HQO EVENTS WELCOMED MORE THAN
2 WALK & TALKS
37,000 ATTENDEES
ALONG INDIANA AVE WITH THROUGH2EYES
4 COMMUNITY UPDATES
VIRTUALLY CONNECTING 200+ ATTENDEES
DEI STRATEGY: Foster equitable access to the facilities and resources in 16 Tech and create an inclusive and diverse culture through events, programs, and engagement activities that connect cross-sector, and cross-cultural networks.
EVENTS IN HQO EVENT BREAKOUT: 240 COWORKING 116 MACHYNE 200 AMP
INNOVATION SERVICES
Our goal: Ensure a continuum of resources in 16 Tech to advance innovation-driven entrepreneurship
AT MACHYNE:
90+ TRAINING & CLASSES 10 FREE DESIGN SEMINARS
80+ ENTREPRENEURS
TRAINED TO START THEIR OWN BUSINESS THROUGH COMMUNITY EVENTS
6 BUSINESS SUPPORT
FOR AMP TENANTS
CLASSES
1 NETWORKING SERIES LAUNCHED
CREATING CONNECTIONS WITH INITIAL EVENTS FOR LIFE SCIENCES AND DATA ANALYTICS
DEI STRATEGY: Seek entrepreneurial support partnerships that specialize in serving unique populations, ensuring these partnerships reflect diversity, equity, and inclusion standards necessary to support underrepresented entrepreneurs and their enterprises.
NEIGHBORHOOD TALENT & CONNECTIONS
Our goal: Lower barriers for neighbors to participate in and contribute to the innovation economy
$1.3 MILLION
IN COMMUNITY INVESTMENT FUND GRANTS FROM 2020-2022
$18,000+
NEIGHBORHOOD SPONSORSHIPS IN 2022
100+ STUDENTS ENGAGED THROUGH REGENERATION INDY SUMMER CAMP AT MACHYNE
35 RESIDENTS SUPPORTED
BY SCHOLARSHIPS TO ACCESS THE MAKERSPACE OR COWORKING SPACE AT 16 TECH
INDY WINTER FARMERS MARKET
20,000+ MARKET ATTENDEES $13,000 SNAP BENEFITS REDEEMED
DEI STRATEGY: Engage neighbors in the creation of functional pathways and inclusive access to advanced industries through investments and programs that align neighbors’ skills, competencies, and businesses with high-quality firms’ needs for talented workers.
WHAT’S AHEAD FOR 16 TECH
RESIDENTIAL 1 ANTICIPATED: 2024-2025
First 280-unit multi-family project will connect residents to a seamlessly integrated live-work-innovate community.
IUPUI Herron School of Art + Design Eskenazi Fine Art Center Roudebush VA Medical Center Indiana Eskenazi Hospital Riley Hospital for Children BRTC Building IU School of Medicine Indianaplis Motor Speedway (2.8 miles) WHITE RIVER HARDING ST. INDIANA AVE. WATERWAYBLVD. 16TH ST. INDIANA AVE. 10TH ST. WATERWAYBLVD. WATERWAYBLVD. SERVAAS BRIDGE MONTCALMST. GENT AVE. CENTRAL GREEN 16TECH BRIDGE TECHTRAIL TECH TRAIL TECH TRAIL TECH TRAIL PARCEL L Hotel Site PARCEL O PARCEL D PARCEL G2 PARCEL E PARCEL I PARCEL H PARCEL K PARCEL J EMC2 INNOVATION BUILDING 1 RESIDENTIAL 1 (2024) MACHYNE MAKERSPACE THE AMP OFFICE SPACE PARKING GARAGE
WHITE RIVER TRAIL
Future Development Site Near Term Development Site Active Coming Soon
DRUG DISCOVERY LABORATORY ANTICIPATED: 2023
The Indiana Biosciences Research Institute is looking forward to opening its new drug discovery laboratory, which expands its chemistry capabilities in support of accelerating the pursuit of novel therapeutics.
16 TECH BRIDGE ANTICIPATED: 2024
The groundbreaking for 16 Tech Bridge was held in March 2023. The bridge will be a vital connector, spanning Fall Creek from the IUPUI medical/research corridor to the 16 Tech Innovation District. Contact Emily Krueger, ekrueger@16tech.com, to learn about naming rights opportunities.
DEVELOPMENT OPPORTUNITIES
16 Tech has the most robust pipeline of development projects in its history, representing catalytic opportunities for lab and applied research spaces in the Indianapolis region. Available parcels are intended for lab, retail, office, hotel and more. Interested parties may contact Eric Miller emiller@16tech.com.
Cook Regentec MonumentCircle (2.4miles) University Purdue University Indianapolis IU Academic Health Campus (2.4 miles) M I L B U R N S T M I L B U R N S T
CULTURAL
FALLCREEK
TRAILEXPANSION
16TCC FINANCIAL INFORMATION
16 Tech’s work in its first five years of operations was principally to develop the public infrastructure necessary to create a vibrant innovation district. This work has been funded through significant public and philanthropic support that is reflected in 16 Tech’s financial position.
Interest and Other Income Philanthropic – Other Philanthropic - Capital Projects Real Estate Operating Revenue Tax Credits 14% 3% 59% 12% 12% 2022 REVENUE & SUPPORT $23.8M Management & General Real Estate Operations Fundraising Pre-Development Programming 7% 12% 55% 4% 22% 2022 OPERATING
$6.7M
EXPENSES
99% of 16 Tech’s assets as of 12/31/22 and 89% of the capital sourced to date have been used to support the physical development of the District. Philanthropic support for capital projects also represented more 50% of 16 Tech’s income in 2022.
City of Indianapolis Philanthropic State of Indiana Private Debt Federal Other Assets Fixed/Placemaking Assets 1% 99% ASSETS AS OF DEC. 2022 $139.4M 34% 11% 89% 8% 13% 18% 27% CAPITAL SOURCES SINCE INCEPTION $197M Capital Projects Operating Support
WHY YOUR SUPPORT MATTERS
16 Tech is creating an inclusive innovation community, where its success depends just as much on the programming as its physical space.
Your support ensures the availability of:
1) Programs to engage our neighbors,
2) Events to support diverse talent and develop cross-industry, cross-cultural networks,
3) Resources for entrepreneurs and the companies they seek to start and scale, and
4) Placemaking projects including greenspace, pedestrian and bicycle infrastructure that connects adjacent neighborhoods to the opportunities in 16 Tech.
Donate or learn more about 16 Tech’s programs, by contacting 16TCC President & CEO, Emily Krueger at ekrueger@16tech.com.
SCAN FOR FULL REPORT
LEARN MORE: 16TECH.COM
VISIT: 1220 WATERWAY BLVD, INDIANAPOLIS, IN 46202
