inVenture: Advancing Innovative Businesses January '08 
News in a Flash

Ivy Tech Institute Grads Honored

BLOOMINGTON — Graduates who successfully completed the evening session of Ivy Tech Community College’s Management and Supervisory Institute were recognized recently in a ceremony at the Bloomington Country Club. The program was grant-funded through the Department of Workforce Development and participants were part of the initial offering in the area.

Graduates included John Key and Bradley Nickless, Whitestone Acquisition; Scott Bergfield, Schulte Storage; and Reuben Lidster, BioConvergence. For more information about the training, contact Katrina Jones at 812-330-6042 or katjones@ivytech.edu.

 

Cook Group Takes Control of Casino

The Indiana Gaming Commission on Thursday approved changes in the ownership structure of the French Lick Resorts & Casino, giving the Bloomington-based Cook Group 99 percent of the development and a Cook-affiliated company the remaining 1 percent.

The development includes two historic hotels and a newly built casino.

Attorney Ed Broecker told the gaming commission that the new ownership structure includes an organization called the Blue Sky Trust, which will distribute 50 percent of the development’s profits to charities.

Those distributions to charity will begin once the initial investment in the project is recouped, Broecker said.

The charities are expected to include the Historic Landmarks Foundation, the Indiana University Foundation and the Orange County Community Foundation.

Billionaire entrepreneur Bill Cook and his family had already controlled the hotels and casinos under a complicated ownership structure. But the changes approved by the commission bring the resort more fully under control of the Cook Group Inc., a collection of privately held, mostly health care related companies.

The change was made in part to provide the employees of the hotels and casinos with Cook Group benefits.

Currently, those benefits are provided by Benchmark Hospitality International, which has managed the hotel operations. But Cook and Benchmark officials said Wednesday they were parting ways and that the Cook Group would take over management.

Broecker told the commission that the individuals running the resort will be the same.

“Nothing is changing on the ground,” he said.

For complete article, please visit IndyStar.com.

 

Bloomington’s Ivy Tech among fastest-growing US community colleges

Bloomington’s Ivy Tech is the third fastest-growing community college in the country for its size, according to Community College Week.

In fact, 11 regions or campuses of Ivy Tech Community College are listed among the fastest-growing community colleges in the weekly report.

Ivy Tech announced the news Friday in a release.

The Bloomington campus at 200 Daniels Way ranks third among community colleges with enrollment between 2,500 and 4,999. The numbers are based on enrollment figures for the fall 2006 semester.

Ivy Tech in Bloomington exceeded a head count of 5,000 students this fall.

“Ivy Tech — Bloomington is engaged in meeting the needs of our community, whether those needs are credits that can be transferred to our four-year partners or certificates and degrees that allow our students to meet the workforce education needs of the community. We are growing rapidly, and the campus will need additional resources to continue to fulfill the needs of the communities it serves,” John Whikehart, Ivy Tech Community College Bloomington chancellor, said in a prepared statement.

Since moving to a new building west of the city, the campus has seen enrollment almost double. It forged a positive relationship with Indiana University, solidified its role in training the area’s workforce and raised more than $5 million in its first capital campaign.

In all, 77,013 students were enrolled on Ivy Tech’s 23 campuses, according to an August news release from the college — up 10.3 percent from a year ago. And the release today said Ivy Tech’s growth statewide has more than doubled its enrollment from 50,752 students in 1990 to more than 110,000 this fall semester.

For more the complete article, please visit The Herald Times Online.

 

 

 

 
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!

 

Next Wave Systems, LLC

Next Wave Systems, LLC (NWS) is a Small Business Administration-certified HUBZone company specializing in software development, sensor integration, security systems design/installation/maintenance, and wireless communications/network design.  Working primarily for the federal Government, their main customers include the Department of Energy (DoE); Department of the Navy via the Naval Surface Warfare Center, Crane Division; and the Defense Advanced Research Projects Agency (DARPA).

Headquarters is located in Washington County’s Pekin, IN, and NWS has an office at the Purdue Technology Center in Merrillville, IN.  At Bloomington’s inVenture tech park they occupy suites in Room 106 and have a 1545 sq. ft. software development lab in Room 106.  Started in October 2005 with three employees, they currently employ 18 personnel with plans to continue growing as workload and revenues increase. They have established mutually-beneficial partnerships with other commercial and academic entities including Purdue University (West Lafayette), SAIC, EG&G, MS Technology, Inc., and fellow inVenture tenant, 39 Degrees North.

NWS recently completed a $1.96M project to design a secure wireless network for the DoE.  Ongoing tasking includes two SeaPort-e Task Orders from Crane: one supports the Military Sealift Command’s Shipboard Security Module and the other provides software development for sensor integration, secure computer networks, and unmanned vehicles.  In addition to their SeaPort-e prime contract, they hold a GSA Professional Engineering Services contract (GS-10F-0372T) and are anticipating a Phase II Small Business Technology Transfer (STTR) contract award funded by DARPA.  A joint proposal from NWS and Purdue, to be submitted this month, seeks a $2M grant from the Indiana Economic Development Corporation’s 21st Century Fund for Research and Development relating to next-generation surveillance systems utilizing innovative sensor-based video analytics.

 

For more information please visit their website, www.nextwavesys.com.

 
Upcoming Events

January 4: New Economy, New Rules Seminar
What: Series of video conference presentations from industry leaders geared towards the information technology industry. Guest Speakers will be a panel of mayors-elect from across the state who will speak on their recent electoral victories, as well as their future plans for local economic development. Topic: The Role of Technology in Agriculture
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 8:00 - 9:30 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

January 8: Community Chats
What: A weekly series to discuss issues facing Bloomington and the broader region.
Where: Village Deli, 409 East Kirkwood Ave.
Time: 7:30 - 8:30 am

Jaunary 15: Community Chats
What: A weekly series to discuss issues facing Bloomington and the broader region.
Where: Village Deli, 409 East Kirkwood Ave.
Time: 7:30 - 8:30 am

Jaunary 15: Artists After Hours Workshop
What: Bloomington Area Arts Council monthly Artists After Hours
Where: John Waldron Arts Center, 122 S. Walnut, Rose Firebay
Time: 5:15 pm

Jaunary 15: Tech Tuesday
What: A series of video conference presentations with a networking and educational component for Bloomington technology businesses.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 7:30 - 9:00 am
Contact: Terri Brown, inVenture, 812-335-7356

Jaunary 15: Life Sciences Lunch Series
What: The Indiana Health Industry Forum and Barnes & Thornburg present a monthly seminar series on critical issues in life sciences.
Where: Ivy Tech Community College, Bloomington Campus
Time: 11:30 am - 1:00 pm
Contact: BEDC, 812-335-7346

Jaunary 16: 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 St., Suite 106A
Time: 3:00 pm- 5:00pm
Cost: $25
Contact: SBDC, 812-339-8937 (registration required)

January 16: Icebreakers :: GET CONNECTED
What: Bloomington's after-hours networking event for entrepreneurs' tech-based businesses.
Topic: Ron Walker with the Bloomington Economic Development Corporation
Where: The Irish Lion, 220 W. Kirkwood Ave., Bloomington
Time: 5:30 - 7:30 pm
Cost: Free
Contact: inVenture, 812-335-7356

Jaunary 22: Community Chats
What: A weekly series to discuss issues facing Bloomington and the broader region.
Where: Village Deli, 409 East Kirkwood Ave.
Time: 7:30 - 8:30 am

Jaunary 29: Community Chats
What: A weekly series to discuss issues facing Bloomington and the broader region.
Where: Village Deli, 409 East Kirkwood Ave.
Time: 7:30 - 8:30 am

February 1: New Economy, New Rules Seminar
What: Series of video conference presentations from industry leaders geared towards the information technology industry.
Where: inVenture, 501 N. Morton St., inVenture Conference Room
Time: 8:00 - 9:30 am
Contact: Marilyn Skirvin, Bloomington Economic Development Corporation, 812-335-7346

February 5: Community Chats
What: A weekly series to discuss issues facing Bloomington and the broader region.
Where: Village Deli, 409 East Kirkwood Ave.
Time: 7:30 - 8:30 am

February 6: 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 St., Suite 106A
Time: 10:00am - 12:00pm
Cost: $25
Contact: SBDC, 812-339-8937 (registration required)

 

USeful Links
Web sites to help your business succeed.

 
Tips of the Month

Business Alliances Are Key

We have found that our best strategy for growth and market awareness has been through association. In today’s business environment no company can expect to provide all services under one roof. In fact most companies today rely on their business partners to bring complimentery offerings to the table.

Our alliances have been fundamental to our growth and market awareness. We may have been a small company but by adding complimentery services our value add grew. Customers come to us first for advice and recommendations before they approach our business partners.

We provide project management and not just referrals so we can leverage our strengths with those of our partners. It also eases our clients by providing support for their technology endeavours. Additionally our business partners provide additional promotional opportunities. They can also add to their service offering which mutually benefits both parties.

Small businesses need to show they can measure up to larger sized competitors by leveraging their service or product offering. This approach helps to remove barriers and if executed correctly could have your business partners recommending you and adding to your referral base.

 
SBDC Business Solutions

Business Valuations

Thinking about selling your business? How do you know what price to set? SBDC Business Advisors use business and industry characteristics of small to midsize businesses to arrive at a suggested selling price. We can assist in structuring the deal so that the downpayment and the terms of the loan can be justified to potential buyers while showing the business owner their potential gain from the deal.

You will receive a report which includes:
• Three-Year Annualized Analysis and Weighted Pricing
• Price Variances Based On Downpayment Percentage
• Justification For Purchase
• Calculation Of Seller's Discretionary Earnings
• Multi-year Income Statment Analysis
• Full-color Graphing
Contact the SBDC office at 812-339-8937 to learn how you can take advantage of our Business Valuation services.

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, Indiana Economic Development Corporation, Indiana University, Ivy Tech Community College-Bloomington, Monroe County Government and the US 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.

LiveWire Copyright 2007 | All Rights Reserved | Privacy Statement | View Past Issues |

inVenture: Advancing Innovative Businesses