June 25, 2008
Top 50 Indiana Companies to Watch to be drawn from 133 finalists
WEST LAFAYETTE, Ind. - More than 220 applications have been completed for the inaugural Indiana Companies to Watch awards program, which seeks to recognize the state's 50 most promising second-stage companies this summer.
Purdue University is collaborating with the Indiana Economic Development Corp. through its Small Business Development Centers and the Edward Lowe Foundation for the 2008 program.
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More than 420 nominations were received from companies in 66 Indiana counties by the April 25 deadline. Nominees and those applying directly had until May 9 to complete the initial application. The 133 finalists were selected in late May from the 222 completed applications.
Finalists completed a second-round application and are being reviewed by a panel of judges selected by Purdue, the IEDC and the Edward Lowe Foundation. The 2008 class of Indiana Companies to Watch will be recognized Aug. 27 during a banquet at the Indiana Roof Ballroom in Indianapolis.
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The top sponsor for the inaugural program is KeyBank of Indiana, along with Barnes & Thornburg LLP and Katz, Sapper & Miller. Other sponsors include Duke Energy Corp., Premier Capital Corp., Stuart & Branigin LLP, Taft Stettinius & Hollister LLP, Vectren Corp., Ivy Tech Community College of Indiana, Indiana Business Magazine, and media partner Inside Indiana Business with Gerry Dick.
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"The response to this inaugural effort from all regions of the state has been outstanding," said Jeff Heinzmann, director of the Indiana Small Business Development Centers. "The impressive list of applicants represents Indiana's future economic growth in the life sciences, manufacturing, services and other sectors. We have a terrific story to tell about the dynamic future of Indiana's economy and the essential role that second-stage companies play in building such an economy."
Edward Lowe Foundation, based in Cassopolis, Mich., conducts research, educational and recognition programs for entrepreneurs and entrepreneur support organizations, with a focus on second-stage companies. Similar recognition programs are under way in Michigan and Arizona.
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To be eligible, companies must be based in Indiana, privately held, advanced beyond the start-up phase, employ six to 150 full-time employees, including the owner, and have $750,000 to $100 million in annual revenue or working capital in place from investors or grants. For more information, go to http://Indiana.CompaniesToWatch.org.
The Purdue team supporting the program includes representatives from the Center for Regional Development and the Burton Morgan Center for Entrepreneurship, the College of Agriculture, Krannert School of Management, Purdue Alumni Association, Purdue Cooperative Extension Service and Purdue Research Park.
The Indiana Small Business Development Centers offer free and low-cost information, management counseling and educational services to support the state's small-business owners and potential entrepreneurs, boosting economic development and creating jobs within the state.
Edward Lowe, the inventor of Kitty Litter, and his wife Darlene established the Edward Lowe Foundation in 1985. They envisioned an organization that would leverage entrepreneurship as a strategy for economic growth and community development.
Writer: Phillip Fiorini, (765) 496-3133, pfiorini@purdue.edu
Sources: Sam Cordes, (765) 494-7273, smcordes@purdue.edu
Jeff Heinzmann, (317) 234-2086, jheinzmann@iedc.in.gov
Gary Hentschel, (317) 464-5225, gary_hentschel@keybank.com
Penny Lewandowski, (800) 232-5693, penny@lowe.org
Purdue News Service: (765) 494-2096; purduenews@purdue.edu
Note to Journalists: Journalists who want to schedule an interview with Indiana Companies to Watch program sponsors can contact Phillip Fiorini, Purdue News Service, (765) 496-3133, pfiorini@purdue.edu
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