Elevate Ventures announces $649,000 to Indiana businesses – Inside INdiana Business

Newberry-based startup Ateios develops customizable batteries used in electronics manufacturing. (photo courtesy of Ateios Systems)

Twelve Indiana companies are receiving $649,000 as part of the Phase I and Phase II matching awards of the state’s Small Business Innovation Research and Technology Transfer Program in during the first half of 2022. The SBIR/STTR program is managed by Indianapolis-based Elevate Ventures and the Indiana Economic Development Corporation.

Elevate Ventures matches 50% up to $50,000 for Phase I and up to $75,000 for Phase II. In total, Elevate says the companies receive $5.4 million in federal rewards.

Phase I of the program focuses on assessing the feasibility and potential of research and development projects, while Phase II focuses on further product development and commercialization.

“The Matching Funds program gives Ateios better control over the schedule and allows us to maintain a better relationship with our program managers as we can turn around the work quite quickly, leading to a more fruitful relationship,” said Carlos Munoz. , chief operating officer at Ateios. . “Without the funds, we would have to wait 45 days or more to order the necessary supplies, which would result in at least a two-month delay before starting the project.”

The funded companies are below:

  • Ateios, Newberry: Develop technology for customizable and flexible batteries used in electronics manufacturing.
  • BCI Solutions Inc., Bremen: Provides complete manufactured solutions.
  • Carbon Solutions LLC, Bloomington: Focuses on energy applications such as CO2 capture, geothermal, wind and hydrogen.
  • Compact Medical Inc., Indianapolis: Developing the Butterfly BVM as a safer and more effective choice for manual resuscitation.
  • Engine Research Associates Inc., Fort Wayne: Develops and manufactures motors for drones.
  • Explore Interactive Inc., West Lafayette: Delivers augmented reality experiences for STEM education through digital apps paired with physical playsets.
  • GeniPhys Inc., Zionsville: To develop and commercialize polymerizable collagen and modified collagen materials for accelerated and enhanced tissue restoration and regeneration.
  • Independence Science LLC, West Lafayette: Empowers blind students in hands-on STEM lab learning by developing new text-to-speech tools.
  • Kovina Therapeutics Inc., Indianapolis: Develop first-class antiviral therapies to treat cancers and precancerous HPV infections.
  • Neurodon Corp., Crown Point: Developing disease-modifying drugs for diabetes, neurodegeneration and other life-threatening diseases.
  • TayCo Brace Inc., South Bend: Offers a lightweight and functional alternative to the walking boot.
  • ZS Instruments, La Fayette: Specialized in the research, development and manufacture of precision measuring tools.

Elevate claims that the SBIR/STTR programs are the largest source of funding for startup technology in the United States. Funding is available from 11 participating agencies across the country, focused on a range of technology areas.


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