inVenture: Advancing Innovative Businesses October '05 
News in a Flash

First Annual Fuse Business Innovation Awards
Join us as the SBDC and inVenture focus on the small business community and spotlight its innovation, creativity, energy, and growth. These are the entrepreneurs in our community who are doing things differently and making an impact. We want to recognize the businesses that are the "Brands to Watch."

What: First Annual Fuse Business Innovation Awards Luncheon
Award Categories:
• Entrepreneur of the Year
• Entrepreneurial Growth Award
• Innovative Business of the Year
• Microenterprise of the Year
• Social Entrepreneur of the Year
• Small Business Advocate of the Year
• Community Service Award
Date: October 25th
Time: 11:00am to 1:00pm
Location: Chapman's Restaurant & Banquet, 300 S State Rd 446, Bloomington
Price: $25.00 per person
Seats are limited, register today by calling Terri Brown at 812-339-8937.

Made possible through the generous support of the following organizations:

Nominations: If you would like to nominate a business or individual please submit their name to before 5pm on October 7th. Please review the selection criteria (pdf).

inVenture Celebrates First Anniversary, Announces Plans for Expansion
inVenture, Bloomington’s business incubator for high-tech and life science companies, celebrated its first anniversary with a long list of achievements and a flurry of announcements regarding future growth.

Started one year ago serving two tenants in a 4,000-square-foot facility, inVenture now serves seven high-tech companies in 5,500 square feet and plans to double in size.
See full press release

Bloomington Mayor Forms Advisory Board to Guide Technology Park
Bloomington mayor Mark Kruzan recently announced the establishment of an advisory board to create a long-range strategic development plan for Bloomington’s Certified Technology Park (inVenture is located in the Park). The new board is a partnership among the City of Bloomington, Indiana University, local business leaders, and economic development experts. The park is a 66-acre area in downtown Bloomington designated for the growth of technology and life science businesses.

The team of leaders Kruzan has assembled will provide oversight to the planning process. The City has hired Ginovus, an economic development service firm based in Indianapolis, to lead the effort. The planning process is expected to take several months to complete.

Kruzan appointed the following individuals to serve on the advisory board:
• Dr. Kumble Subbaswamy, Dean, College of Arts & Sciences, Indiana University
• Mike Sample, Vice President for University Relations, Indiana
University
• Ron Tarsi, General Manager, WTTS/WGCL
• Alisa Wright, President, BioConvergence, LLC
• Brian Kleber, Director, inVenture
• Linda Williamson, Executive Director, Bloomington Economic
Development Corporation
• Ryan Asberry, Director, Research Division, Indiana Economic
Development Corporation

SBDC Celebrates 20th Anniversary
The South Central Indiana Regional Small Business Development Center (SBDC), located in Bloomington, is proud to announce its 20th anniversary. Since 1985 the SBDC has helped thousands of entrepreneurs take their business to the next level through one-on-one business counseling, training and networking opportunities, research and analysis, and comprehensive resources. While long known as the top SBDC in the state, the Bloomington office was recently recognized as one of the top SBDCs in the nation. Join us as we celebrate our achievements at the Fuse Business Innovation Awards.

 
Small Business Spotlight

South Central Indiana's area economy is made up of many unique small businesses which often are overlooked. Each month learn about a local small business that you might have not known about!

Information in Place, Inc.
Information in Place, Inc. (IIPI) was formed in 1999 by faculty and researchers from Indiana University after several years of research at the University’s Center for Excellence in Education on using mobile and wearable computers for learning. The Company’s employees come from some of Indiana University’s foremost programs: instructional systems technology, computer science, library and information science, and business. To sustain its technology edge, the company mentors student interns and fosters close working relationships with faculty at Indiana University-Bloomington, IUPUI, Purdue University, and Rose-Hulman Institute of Technology.

Information in Place focuses on capturing expert knowledge and delivery of information in highly mobile environments. It is a leader in developing context-aware (e.g., location, environmental conditions, skill level) mobile technologies and augmented reality solutions. IIPI was recently named to the Military Training Technology Top 100 list because it combines practical solutions with proven effectiveness and cutting-edge research. IIPI is currently focused on four market segments where these kinds of solutions are required: defense and security; maintenance, repair and advanced manufacturing; navigation; and healthcare information and visualization. To learn more, visit the Information in Place website.

 
Tips of the Month

Topic: Tracking Your Marketing Return on Investment
Effective marketing programs should always be built on a sound business strategy. Yet a fundamental component of any business strategy has been missing from the historical
marketing mix: understanding the financial return on investment for marketing dollars.

Using marketing ROI metrics, entrepreneurs can plan budget allocation, track performance and substantiate the value of marketing investments. Use this general ROI calculator to explore your marketing performance.

Upcoming Events

October 5: Business Orientation Start-up Session (BOSS)
What: Learn what it takes to start your own business and become your own boss
Where: SBDC, 501 N. Morton, Suite 106
Time: 3:00 - 5:00 pm
Cost: $20
Contact: SBDC, 812-339-8937 (registration required)

October 7: New Economy, New Rules Seminar
What: NENR is a series of video conference presentations from industry leaders geared towards the information technology industry.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

October 18: Tech Tuesday
What: Tech Tuesday is a series of video conference presentations with a networking and educational opportunity for Bloomington technology businesses.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Terri Brown, inVenture, 812-339-8937

October 19: Business Orientation Start-up Session (BOSS)
What: Learn what it takes to start your own business and become your own boss
Where: SBDC, 501 N. Morton, Suite 106
Time: 3:00 - 5:00 pm
Cost: $20
Contact: SBDC, 812-339-8937 (registration required)

October 19: Icebreakers :: GET CONNECTED
What: Bloomington's new after-hours networking event for entrepreneurs' tech-based businesses.
Topic : Cook Pharmica Update and Preview of Facilities
Where: Cook Pharmica, 1300 S. Patterson Dr.
Time: 5:30 - 7:30 pm
Cost: Free
Contact: inVenture, 812-335-7356

October 20: Business After Hours
What: Greater Bloomington Chamber of Commerce monthly Business After Hours
Where: AMVETS Post #2000, 5227 W. Airport Rd., Bloomington
Time: 5:30 - 7:30 pm
Sponsored by: AMVETS Post #2000

October 25: Fuse Business Innovation Awards Luncheon
What: Help support the local small business community by joining us in recognizing the top innovative entrepreneurs in the Monroe county area.
Where: Chapman's Restaurant, 300 S. State Rd 446, Bloomington
Time: 11:00 - 1:00 pm
Cost: $25 per person
Contact: Terri Brown, 812-339-8937

October 25: Artists After Hours
What: Bloomington Area Arts Council Artists After Hours
Topic: Art and the IRS
Presenters: Duane Vaught and Linda Simon, CPAs, Stampfli & Associates
Where: John Waldron Arts Center, 122 S. Walnut Street
Time: 5:30 - 7:30 pm
Contact: Nancy Krueger, 812-334-3100

November 4: New Economy, New Rules Seminar
What: NENR is a series of video conference presentations from industry leaders geared towards the information technology industry.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

 

USeful Links
Web sites to help your business succeed.

 

SBDC Business Solutions

inVenture Business Affiliate Program
Want to know how to benefit from Bloomington's business incubator, inVenture, if you're not a technology business?

Our Business Affiliate Program provides the advantages of business incubation to companies who are non-tenants of inVenture. For only a $300 annual fee, affiliates may take advantage of a corporate address, professional staff, a supportive client network, access to industry-related seminars, connection to Indiana University research groups and resources, use of professional conference space, and more! E-mail inVenture director for information or call him directly at 812-335-7356.

View More Small Business Solutions

 
Thank you to the financial supporters and partners of inVenture and the South Central IN SBDC: Bloomington Economic Development Corporation, Bloomington Urban Enterprise Association, Cairril.com Design & Marketing, City of Bloomington, Greater Bloomington Chamber of Commerce, Indiana Economic Development Corporation, Indiana University, SBC, and the Small Business Administration.

Sponsor:

Kiva

This newsletter is produced by the inVenture and is intended to keep our clients and partners informed of current programs and small business issues. Out of respect for your time, we will only send one announcement a month. If you would prefer not to receive this newsletter, please to be removed from our mailing list.

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inVenture: Advancing Innovative Businesses