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News Release

Last modified: Monday, June 7, 2004

New business incubator unveiled by IU, City of Bloomington and local business leaders

BLOOMINGTON, Ind. -- Bloomington now has its own business incubator dedicated to the life sciences and information technology.

Inventure, a 4,000-square-foot facility located in the Indiana University Research Park, was created through a partnership between IU, the Indiana Small Business Development Center, the City of Bloomington, the Bloomington Economic Development Corp. and the Greater Bloomington Chamber of Commerce.

"Inventure is the first phase of a plan to join SBDC and IU resources to help technology companies grow and succeed in an entrepreneurial environment," said South Central Indiana SBDC Regional Director Brian Kleber, who will run Inventure. "This partnership will foster new bridges between the community, university and local businesses."

Would-be entrepreneurs and other members of the general public are invited to attend Inventure's grand opening at the IU Research Park, 501 N. Morton St. in Bloomington, on June 24 from 4 to 5 p.m. IU Vice President for University Relations and Corporate Partnerships Bill Stephan, IU Vice President for Research Michael McRobbie, IU Assistant Vice President for Real Estate and Economic Development Lynn Coyne, Bloomington Mayor Mark Kruzan, Bloomington Chamber of Commerce President Steve Howard and Bloomington Economic Development Corp. President Linda Williamson will attend. The open house is part of a week of events dedicated to boosting entrepreneurship in the Bloomington area.

Inventure will provide a number of services to those who are interested in developing and protecting their marketable ideas. Inventure encourages business development in the areas of life sciences and information technology, but other types of entrepreneurship are welcomed. Inventure staff can provide entrepreneurs with regional networking opportunities and some business training and also help entrepreneurs gain access to seed and venture capital. Inventure will also provide space at the IU Research Park to promising young companies. Entrepreneurs need not be formally affiliated with IU to take advantage of Inventure's assistance.

"This will be a boon to aspiring business people in southern Indiana," said Coyne, who will serve as Inventure's IU liaison. "By encouraging brilliant minds to put down roots in the area, we hope Inventure will help put the plug in Indiana's 'brain drain.'"

To speak with Kleber or Coyne, contact David Bricker at 812-856-9035 or brickerd@indiana.edu.

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