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May 26th, 2021

Partnership Increases Access to Capital in Southeast Indiana

New Albany, Ind – High-potential entrepreneurs in Southern Indiana will continue receiving early-stage investments and advice through a new partnership between Elevate Ventures and Render Capital, the parties announced today. The new partnership, called Elevate Southeast Indiana, replaces 1804, Inc., which operated from 2017 to 2020.

Elevate Southeast will provide three needs to entrepreneurs; hands on mentoring, early-stage startup funding, and access to educational content and events. The partnership will also focus on empowering the angel investor community.

Elevate Ventures is a venture development organization that helps high-growth startups and early-stage companies grow into high-performing, Indiana-based companies. Since 2011, Elevate has invested over $115 million in more than 400 Indiana-based startups.

Render Capital is a $15 million fund with a capital-forward strategy offering products for every type of entrepreneur and covering deal sizes from $1,000 to $250,000. In 2020 alone, Render Capital invested nearly $2.5 million in 17 startups in the Louisville and Southern Indiana region.

“The most successful communities have a deep culture of entrepreneurism and innovation, and the Elevate Southeast partnership will encourage and boost that culture within the region,” said Chris LaMothe, CEO of Elevate Ventures. “Kent Lanum of the Paul Ogle Foundation is a true visionary and the original driver behind this important southeast Indiana initiative. I’m excited to continue this entrepreneurial partnership with Render Capital and the energy and vision they bring to the ecosystem.”

Elevate Ventures’ regional entrepreneur-in-residence, Kyle Keeney, Ph.D., and the managing director of Render Capital, Patrick Henshaw, will share office hours every other Friday from 8:30 a.m.-3 p.m. at The Root co-working space in New Albany.

As part of the partnership, early-stage high-growth startups have access to the Elevate Ventures Community Ideation Fund. The Community Ideation Fund invests up to $20,000 per company and enables ideation stage entrepreneurs to move closer to a specific milestone. Recipients of the funding will also get the opportunity to pitch to Render Capital for the chance to double the investment.

A committee of five local stakeholders will be responsible for approving the Community Ideation Fund investments. Committee members include:

“Render Capital wanted to pursue this collaboration with Elevate Ventures because we know there is a need for increased entrepreneurial support and collaboration throughout the region. This partnership gives us the chance to play a more intentional and active role in making sure our region’s entrepreneurs get the access to capital, mentoring and relationships they need to grow and scale locally,” said Patrick Henshaw, managing director of Render Capital. “This is a great way for us to grow our mission and get more capital in the hands of our area’s best startups.”

Entrepreneurs looking for assistance can apply here or stop by The Root.

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