SOUTH BEND –
South Bend-based mostly nonprofit The Judd Leighton Foundation says it has produced a new capital expense fund, which is aimed at helping early-phase startups in northern Indiana. The business says the Leighton Elevate Angel Enhancement Fund is in partnership with Indianapolis-based Elevate Ventures.

The plan is supported by the South Bend – Elkhart Regional Partnership.

The foundation states the Direct fund totals $1 million. It will make investments ranging from $50,000 to $200,000. The fund demands a co-financial commitment, that means at the very least 50% of the total financial commitment arrives from a different source.

“Innovation is at the coronary heart of any flourishing neighborhood. And for our location to succeed we have to have to carry on to foster an interesting entrepreneurial ecosystem,” mentioned Jim Keenan, president of the Judd Leighton Basis. “Our hope is that via the Direct Fund we will be ready to appeal to much more early-phase money to make investments alongside us so that we can carry on to retain additional of these exciting new ideas and talent in our region.”

Eligible startups must be found in Elkhart, Marshall, or St. Joseph counties.

Recipients of the funding will be categorised as an Elevate Ventures portfolio enterprise.