Top legislative priorities for Indiana’s tech industry include venture capital funds, attracting talent
A recent report found that while the tech industry grows in Indiana, a large majority of start-ups have fewer than 20 employees. The Indiana Technology and Innovation Association wants to push state lawmakers in the next session to help small employers grow into bigger ones.
Venture capital activity in the state declined in the latest Indiana Chamber of Commerce 2021 bulletin, dropping the state from 30th to 36th in the country.
In 2017, the state legislature passed $ 250 million through the Next Level Fund to invest in companies and venture capital funds.
Mike Langellier is the CEO of TechPoint, an Indianapolis-based nonprofit growth accelerator. He said that although the industry has seen growth, there is still a lot of potential to be tapped.
âWe are moving in the right direction for companies that have started – and since 2010 and still exist – we are seeing growth there,â Langellier said. “But at the top, these companies aren’t turning into big employers at the rate we want them to.”
One of the organization’s priorities is to accelerate the deployment of Next Level Fund dollars and to create new venture capital funds for Indiana-based companies.
The association also plans to push state lawmakers in the next legislative session to create policies that provide incentives to attract tech talent and remote workers to Indiana.
The group reports that there have been more than 180,000 tech jobs posted this year in the state, generating an economic impact of more than $ 50 billion.
A June worker survey by Indiana-based MakeMyMove shows that more than 30 million people work remotely all the time. About 10 million of them plan to move in the next year.
Join the conversation and sign up for Indiana Two-Way. Text “Indiana” to 73224. Your comments and questions in response to our weekly text message help us find the answers you need on statewide issues.
Langellier said the state has the ability to attract more remote workers, whether or not they are employed by an Indiana-based company.
âThere is a real business proposition that Indiana needs to consider,â he said. “And there are opportunities from a political perspective on how we can put Indiana in the best position to compete there.”
The organization’s other legislative priorities include expanding broadband in the state and more direct domestic and international flights.
TechPoint is part of the Central Indiana Corporate Partnership. CCP also provides support to Indiana Public Broadcasting.