We Help By: Being A Community Partner > Northern Indiana REAP
To facilitate the growth of companies that have high-growth
potential, Elevate Ventures contracted the
design of the Regional Entrepreneurship Action Plan
(REAP) – a three year program intended to generate
economic activity all throughout the Northern Regions
of Indiana and to facilitate the growth of companies
with the potential to be high growth firms.
Through the REAP, Elevate Ventures staff can provide significant sophisticated technical assistance to identified second-stage companies that have the intent and capacity to grow their business – ultimately helping companies to move past the majority of their initial challenges, many of which have little to do with funding.
The REAP was formed with the following points in mind:
- A focus on creating more new firms
- A need to remove barriers that block emergence of high-growth companies
- Target areas of the Hoosier economy that may be fertile sources for high-growth
The funding for the REAP will total $18 million over the
next three years, with $9 million from national funders,
$6 million from Elevate Ventures and the 21st Century
Fund and other state capital programs, and $3 million
from regional organizations and investors.
Of the $18 million, 87% of the funding will go directly to services and investments in high potential startups and economic gardening companies, while 13% will be allocated toward administration.