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Indiana Industry, University and Community Leaders Capitalize on Next Generation of State's Life Sciences Growth
Date:12/16/2009

rns on investment while doing good for our community," said Darren Carroll, vice president, Lilly New Ventures and chairman of the INext Advisory Committee. "This is how public-private partnerships work -- giving Indiana's life science companies the opportunity to compete and win in the global economy."

"We continue to see promising innovations from our technology transfer offices - more than 170 patents and 50 companies have come through the Purdue Research Foundation over the last six years," said Purdue University President France Cordova. "Having a vibrant venture capital community and bringing in new dollars from outside the state to help these companies grow is imperative. This funding builds the companies that will advance the life sciences and improve the health of Indiana's citizens."

Indiana University is tapping investments and private contributions to stimulate Indiana's economy. No tax or tuition dollars are involved. In early December, IU announced the formation of the $10 million Innovate Indiana Fund. "With incubators cropping up all over the state and breakthrough research coming out of our university labs, there continues to be great discoveries in our life sciences," said Indiana University President Michael McRobbie. "The INext Fund provides us with another way we can direct capital to talented and innovative companies and gives them another funding resource."

"By investing in INext, Notre Dame is supporting the advancement of the life-sciences industry in Indiana and throughout the nation, with the hope that this support will lead to new applications that will benefit the lives of many and also create successful businesses. It is a good investment from many perspectives," said Thomas Burish, Provost, University of Notre Dame.

Along with corporate and university investments, the INext Fund has received an investment commitment from Indiana's Teachers Retirement Fund as well as the Richard M. F
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SOURCE BioCrossroads
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