Elevate Ventures’ Community Ideation Fund enables ideation-stage high-potential companies to move closer to a specific, measurable technology or product development milestone with an investment between $5,000 and $20,000. Eligible applicants include Indiana-based companies with headquarters in communities under a partnership with Elevate Ventures, and who have no more than $50,000 in trailing revenue over the past 12-month period.

The Criteria of the Community Ideation Fund are:

  1. Stage: Ideation-stage companies with no more than $50,000 in trailing revenue over the past 12-month period.
  2. Geography: Indiana-based companies with headquarters in the South Bend – Elkhart region (Elkhart, St. Joseph & Marshall counties).
  3. Team: Strong team with complimentary skills or prior startup venture experience; demonstrate coach-ability; commitment to high-growth ventures.
  4. Market: Addressable market size over $500 million, clear understanding of the competitive environment, desired competitive advantages such as technical superiority, speed of execution, partnerships, and a planned high-growth business revenue model that is realistic, repeatable, and scalable.
  5. Product: Well articulated value proposition. While no technology invention is required, application of technology is usually desired as part of product or solution offering. 
  6. Customer: Identified target customers and decision makers through customers discovery or customers validation work and development of go-to market strategies.
  7. Return/Milestones: No significant business or financial liabilities, clearly identified and specific use of funds to support achievement of meaningful milestones.

The Process for the Community Ideation Fund is:

  1. Online Application Completed by Entrepreneur
  2. Elevate Ventures and IEDC Review Process
  3. Notification to Entrepreneur

To apply, click the button below and select “Community Ideation Fund” as the “Topic”. An application will drop down that will require about 30 – 60 minutes to complete.