Indiana Technology News

• 79% expect customers to increase spending in 2011
• 54% plan to add jobs in 2011 (which is much higher than overall expectations)
• 85% feel there will increased need for their technology products and services in 2011

We posed the question of why Indiana technology and business professionals should attend TechPoint's Innovation Summit and a few other questions to three Hoosier experts. These three individuals are at the top of their game and they also happen to be presenters on panels for the event (so they know a little something about the valuable nuggets of business knowledge they plan to espouse).



The video speaks for itself. Visit the TechPoint website for more information about Innovation Summit. There you can download the full event agenda with the topics of all four breakout sessions and the participating panelists; find out about the "Funding Innovation" plenary panel; and which venture capital, angel and seed funding firms are scheduled to attend the "Capital Connection" venture networking event.

You won't want to miss the keynote address from iconoclast technology author Nicholas Carr. Carr is famous for his controversial articles "Does IT Matter?" and asking the question "Is Google making us stupid?" in his new book The Shallows: What the Internet Is Doing to Our Brains. Agree or disagree with him, Carr makes us think – and that’s the first step towards innovation.

Of course, one of the best parts about Innovation Summit is the "Innovation Exhibition" trade show floor where you can browse booth after booth after booth filled with new technologies and business opportunities. Make sure you have a healthy supply of business cards, make note of the #Summit10 Twitter hashtag, and prepare yourself for Indiana's largest assembly of technology professionals and entrepreneurs.

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Today, TechPoint, with support from the Indiana Economic Development Corporation (IEDC) and Ball State University's Center for Media Design, announced Indiana’s Measured Marketing Initiative, a national media relations campaign to position Indiana as the leader of a fast-growing, emerging technology business category that TechPoint has coined as “measured marketing.” The goal for this initiative is to raise awareness, generate customers for existing businesses and attract companies to create jobs and investments in Indiana.

There are more than 70 measured marketing companies in the state of Indiana. Measured marketing companies provide a platform or service for digital marketing via email, social media, search, video, mobile and other rapidly evolving technologies, and they provide clients with return-on-investment tracking.

With its technology-related tax credits and exemptions, access to major research universities, and very reasonable costs of living, Indiana has been a great home for technology businesses, and we are excited to see more companies do business in Indiana.

For more information on Indiana’s Measured Marketing Initiative, please go to www.indianameasuredmarketing.com. 
 

Last week, executives from 41 Hoosier "Companies to Watch" were honored at a gala dinner at the Indiana Roof Ballroom in Indianapolis. Presented by the Indiana Economic Development Corporation (IEDC), Purdue University, and the Edward Lowe Foundation, the "Companies to Watch" program recognizes the state’s fast-growing, high-potential firms among businesses with up to 150 employees and between $750,000 and $100 million in annual revenues.

It’s noteworthy that 17 of the 41 companies on this list are in the information technology space, representing areas like software development, IT consulting, e-mail marketing, and healthcare technologies. These high-tech firms are located across the state.

The fact that nearly half of the IEDC’s ‘Companies to Watch’ list are tech companies is more evidence – although anecdotal – of the sector’s continued growth and vitality in Indiana. Hoosier technology firms continued to add jobs even during the trough of the recession in 2008, and Indiana skyrocketed up the state rankings in venture capital investment per capita, from 41st in 2008 to 20th in 2009, showing that funding continues to flow to high-tech innovation here.

The 2010 "Companies to Watch" account for more than $390 million in annual revenues, employ more than 2,000 Hoosiers, and are on pace to create nearly 1,000 new jobs in 2000. The future looks bright for these businesses – as it does for Indiana’s technology community. See the full list of companies.

The Indianapolis Business Journal has announced its request for nominations for its annual “Forty under 40” list. "Forty under 40" is a list comprised of central Indiana’s leading business and professional leaders who have achieved a level of success that is rare at a young age.

We all know Indiana’s tech sector is filled with some of the state’s best and brightest, so let’s make sure to get them nominated so this year’s list is stacked with tech professionals.

Who do you think should be on the list this year?

Click here to nominate.
 

Mira Awards Celebrate Tech Sector’s Progress During Economic Turmoil
by Mark Hill

Last month, more than 600 of Indiana’s technology executives, opinion leaders and policymakers, educators and economic developers gathered at the annual TechPoint Mira Awards gala in downtown Indianapolis to celebrate more Hoosier high-tech success stories. 

For more than a decade, the Mira Awards have recognized the companies, institutions and individuals who make up Indiana’s thriving technology community. This year’s winners provide ample optimism about our future as a high-tech economy:

They show that technological innovation is a catalyst for growth in every industry, not just IT. The Mira Innovation of the Year award winner is OrthoX, a life sciences company that’s developed an exceptionally strong material to anchor artificial joints to bones (Indiana firms account for more than a third of global orthopedic device sales). In Indiana’s largest industry, manufacturing, new technologies are also bringing new opportunities – the advanced manufacturing Mira award went to EnerDel, the fast-growing maker of high-tech batteries for electric vehicles.

Exact Target is a repeat winner in the Information Technology Mira category, continuing to lead the way as Central Indiana establishes itself as a hub for online marketing. Along with Exact Target, our region is called home by companies like Aprimo, Compendium Blogware, 5 Buckets, Lights Out Intelligence, Market Path, Cantaloupe, Delivera and Formstack. These firms are taking advantage of a titanic market shift that has seen the traditional media sector lose 32% of its market value from 2003 to 2008 while new media (online content and services) gained 102%.

Our Mira winners provide a cross-section of our most innovative companies in areas that represent promising market opportunities. It’s important that we celebrate their success. But the message behind this year’s Miras goes beyond a (well-deserved) pat on the back for the winners. The bigger picture is that that the state’s tech sector continued to grow and build momentum even during the tough times.

This year, TechPoint attracted a record number of Mira nominations. The previous high-water mark was set last year, and before that in 2008. Even during the worst of the national recession, this program generated steadily more and more interest and enthusiasm.

Less anecdotally, the latest Cyberstates report from the TechAmerica Foundation shows that Indiana continued to add tech jobs during the downturn, even as the rest of the private sector was making cuts. 

Investors are also betting on Indiana’s high-tech entrepreneurs. Last year was the worst year for venture capital nationally in more than a decade. But in Indiana, we grew our total venture investment by nearly 70% over 2008 – and 2008 beat 2007 by 40%. I’m proud that the HALO Capital Group managed by TechPoint has added nearly $14 million in seed capital since 2008 to help further this trend. 

Indiana’s technology sector has weathered the economic storms, and seems to have emerged stronger than ever. A recent Kauffman Foundation study that found that more than half of the companies on today’s Fortune 500 list were launched during an economic recession or severe bear market. This bodes well for the Mira winners of the last few years, and for our technology industry as a whole – as the economy continues to recover, tech companies will be leading the way.

TechPoint is working to help keep the momentum going. From improving connectivity in the tech community, improving access to capital and entrepreneurial expertise, and fighting for pro-growth policies at the Statehouse, we’re committed to creating a climate that produces even more success stories like those feted at Saturday’s Mira gala. Learn more about TechPoint’s efforts and the Mira Awards program (including a full roster of 2010 winners) at www.TechPoint.org.

Mark Hill is Managing Partner of Collina Ventures and chairman of TechPoint. He also serves on the Board of Directors of the Central Indiana Corporate Partnership.
 

TechPoint’s May Tech Thursday event held at Baker & Daniels was filled with a room of Indiana IT executives, good food, beverages and a lot of networking, but what topped off the evening was speaker Angie Hicks, Founder and Chief Marketing Officer of Angie’s List – The ever-growing Indianapolis-based company. 

Angie’s List is a consumer generated company that takes consumer reviews of local companies and makes them available to the public by charging a monthly subscription fee.

At the event, Hick’s spoke on her struggles, trials and tribulations over the past 15 years in her inspiring efforts of starting Angie’s List and turning it into what it is today.

What started as a door to door business selling magazine subscriptions has evolved into a company with some 750,000 customers generating revenue in 2009 of more than $34 million. Today, Angie’s List is present in 124 markets and last year grew 35 percent despite the recession.

In recent news, Angie’s List has gone international, opening a market in Canada. In its efforts towards expansion, the company is continuously trying new marketing tools of which its most recent includes the usage of social media outlets – Facebook and Twitter.

Hick's said that Angie’s List has evolved to become a credible recognition of which Indiana businesses take great pride in and want to be a part of.

An elegant black-tie event filled with awards, food, beverages and Indiana tech sector networking, took place Saturday evening at the 2010 TechPoint Mira Awards – An event where the top individuals in the Indiana technology world come together to celebrate a night of their last year’s accomplishments. This year’s event was held at The Westin in downtown Indianapolis.

Now in its 11^th year, the Mira Awards highlight Indiana’s technology sector growth and success stories as well as recognize the most innovative and fast-growing companies, institutions and individuals, who are leading the way in the state’s high-tech economy.

PHOTO CAPTION: James Mason of OrthoX receives TechPoint Mira Award, Innovation of the Year, from TechPoint President and CEO Jim Jay.
 

This year was the biggest year for the Mira Awards, having attracted a record number of nominations for the prestigious and high-status awards that are presented at the distinguished event.

Legendary Indiana investor and filmmaker will receive award at TechPoint Mira Awards Gala event May 15

TechPoint is pleased to announce that legendary investor and innovator  Robert Compton is its 2010 Trailblazer Award recipient for significant and lasting contributions to Indiana’s high-tech economy. The Trailblazer Award is part of TechPoint’s annual Mira Awards program recognizing Indiana’s technology success stories in various categories for industry, institutions and individuals.

Thirty years ago, Robert Compton chose to forsake the security of a systems engineering career with IBM and venture in a new direction as an entrepreneur and investor.  For Indiana’s technology sector, the rest is history – Compton has built an unparalleled record of investing in and supporting firms that became the foundation of the state’s high-tech industry, spawning successive generations of new companies (many of which Compton also became involved in).

Compton’s track record is truly a Hoosier high-tech ‘who’s who’ – firms like Software Artistry, Aprimo, Exact Target, Interactive Intelligence, Vontoo, IndianMathOnline, Compendium Blogware, Compression Engineering, Mezzia, Sci-Tech Ventures, Veregon and Warsaw Orthopedic (which went on to become Sofamor Danek, the world’s largest spinal medical device company, with Compton as its President). In all, he has been active in more than 40 businesses in software, telecommunications, healthcare, medical devices, and education.

“When you try to chart the progress of Indiana’s technology sector over the last two decades, most roads seem to lead back to Bob Compton,” said Jim Jay, TechPoint’s President & CEO.  “He has been a catalyst for bringing so many new innovations to market, for making Indiana a hotbed for online measured marketing – the list of achievements goes on and on. 

“This award only confirms what every Indiana technology entrepreneur knows to be true – Bob Compton certainly blazed a path that all of us continue to follow.”
 

Compton’s involvement in entrepreneurship doesn’t end with his direct involvement in for-profit ventures.  He also serves as a Trustee of the Kauffman Foundation, a $1.8 billion institute dedicated to accelerating entrepreneurial activity.  His recent exploits as a filmmaker – most notably the documentary “2 Million Minutes” – has explored the critical role of education to success in an entrepreneurial, knowledge-based economy, taking a look at the differing approaches employed by the U.S., China, and India.

“Bob is a venture capitalist in two senses of the phrase – he invests both intellectual and financial capital in companies and causes that he cares about,” added Mark Hill, Chairman of TechPoint and managing partner of Collina Ventures. “Indiana’s tech community has certainly been a beneficiary of his work, and this Trailblazer in Technology recognition is a well-deserved and long-overdue expression of our appreciation.”

For the last decade, TechPoint’s annual Mira Awards have put a spotlight on Indiana’s high-tech all-stars, understanding that celebrating success is one way to create more of it. The Mira Awards are Indiana’s largest and most visible technology awards program; learn more at http://www.techpoint.org/Mira/.  This year’s Mira Gala awards ceremony will be held on May 15th at the Westin – Downtown Indianapolis. Tickets are available for purchase through the website.

About TechPoint
TechPoint is Indiana’s only statewide technology initiative, representing industry stakeholders including publicly-traded companies, private businesses, colleges and research universities, and local economic development organizations. The group’s mission is to accelerate Indiana’s emerging and vibrant information technology sector by: promoting the successes of information technology companies and professionals; supporting the formation, expansion, and attraction of IT companies; and advocating appropriate public policy.  TechPoint is an initiative of the Central Indiana Corporate Partnership. Visit www.techpoint.org. 

LEARN MORE ABOUT THE MIRA AWARDS GALA
LEARM MORE ABOUT BOB COMPTON

TechPoint's "New Economy New Rules" event, sponsored and hosted by Barnes & Thornburg and simulcast to more than 20 locations statewide, was at capacity ... again ... at the downtown Indianapolis location. Could have been the topic, the speakers, or the joy of navigating snow covered roads!

Special guest speakers and panelists Kelli Schmith of Karmic Boom, Chris Lucas of Formspring, and Kyle Lacy of Brandswag entertained and informed the more than 350 attendees and broadcast viewers with their some of their own social media mantras and observed marketplace mishaps.

Several attendees and I were Tweeting soundbites throughout the event. Here are a few of the more poinant tids and bits:


TechPointInd: @chrislucas5 @wechsler: The Twall of Fame helped #FormSpring earn brand evangelists. #NENR #TechPoint http://yfrog.com/35q5gwj



nancymyrland: http://twitpic.com/x756j - #Techpoint #NENR presenter @chrislucas is talking abt the power of listening in Social Media.



TechPointInd: @MarketingVeep: Kelli is demonstrating to this capacity crowd that social media isn't for geeks and "those people" alone. #NENR #TechPoint



chuckgose: #NENR @marketingveep mentions that sharing is a key part of her social media activity. http://twitpic.com/x75ul



mitchdf: @marketingveep 60s demo fastest growing segment in social #tehcpoint #NENR



TechPointInd: @MarketingVeep: Google has made social media searchable. You cannot hope that this is going away and survive. #NENR #TechPoint



TechPointInd: @MarketingVeep: Are you ready to give up control and let customers tell your story for you? It's already happening! #NENR #TechPoint



mitchdf: @kyleplacy "Always respond" to negative social media conversations. #NENR #techpoint



TechPointInd: 350 million people on Facebook and 70% are outside the U.S. @kyleplacy #NENR #TechPoint



TechPointInd: @chrislucas5: Respond to negative social media in an honest way, try to fix the problem and get good results. #NENR http://yfrog.com/4er70j



TechPointInd: @MarketingVeep: Don't rush to a negative or emotional reaction on social media, be calm and helpful and people will know you ROCK! #NENR


TechPointInd: @chrislucas5: Set policy, but DO allow employees to be evangelists empowered to share and interact with customers. #NENR #TechPoint



hunckler: In corporate social media, give emplyees room and permission to interact with others. Keep it personal. -- @chrislucas5 at #nenr



TechPointInd: @kyleplacy: Yes, advertise thru social media, but do it differently than broadcast media. CUSTOMIZE! #NENR #TechPoint



chuckgose: #NENR @marketingveep Let social media "feed your passion." Helpful advice to those who are new.



BTLaw_News: Lots of great ideas shared today! Don't forget to register for the next #NENR seminar on social media marketing on Feb. 5!


 

With the announcement yesterday that mobile answer service Cha Cha has raised another $7 million in its latest round of funding that closed in December, the state of Indiana's venture capital funding total for 2009 is rapidly approaching $205 million.

That number is based on $128 million confirmed for the first three quarters of 2009 by the National Venture Capital Association (NVCA), and adding up those deals we know about from the fourth quarter, including Cha Cha.

Of course, for those of you keeping score, you know that ExactTarget alone raised $145 million in 2009 -- $70 million in May and another $75 million in December.

Securing venture capital during a time of economic expansion is not easy. Securing venture capital during a recession -- the greatest economic decline since the Great Depression -- is considered a monumental task, even by optimistic experts.

Indiana companies, however, were able to increase the state's venture capital funding by a whopping 78 percent, compared to the $115 million secured in 2008, as reported by the NVCA.

Also, it's worth noting that the numbers reported by the NVCA do not include angel investments, such as the $12.6 million invested by HALO Capital Group in Nico Neuro and Spine; BidPal Network, LLC; Oxygen Education LLC; Weblink International; Genitor Therapeutics, Inc.; and others.

Here's the question of the day:

What is it about Indiana companies (particularly Indiana technology companies) that are making them more attractive to venture capitalists?

Leave your answer(s) in the comments section and please remember to use the Share feature to Tweet this blog to your friends or share it on Facebook, etc.

Bobby Schnabel, Dean of the Indiana University School of Informatics  will be the guest speaker at TechPoint's Tech Thursday on December 10th.

Not familiar with Tech Thursday? Watch this short video:




Tech Thursday is sponsored by IQuest Internet and hosted at Baker & Daniels - Indianapolis North. Each month, Tech Thursday is an opportunity for professionals from Indiana technology companies (and technology professionals from companies in other industries) to come together for networking and insights into new products or developments in the market.

WHAT:  Tech Presentation, Networking, Drinks and Hors d'oeuvres

WHEN:  Thursday, December 10th, 2009 5:00 p.m. - 6:30 p.m.

WHERE:  Baker & Daniels LLP, Indianapolis North
600 E. 96th Street, Suite 600, Indianapolis, IN  46240

There is no charge to attend, but please register so that we are able to provide adequate supply of drinks and hors d'oeuvres.

LEARN MORE ABOUT Dean Bobby Schnabel  |  REGISTER