IoT Lab Forming to Grow Innovative Products, Businesses and New Markets in Indiana
NIIC Receives $750,000 U.S. Economic Development Administration Grant
Individuals and companies interested in developing products and businesses around the Health Internet of Things (IoT) will have a new option. The NIIC is one of 40 organizations from 28 states and two territories to be awarded funding to create and expand cluster-focused commercialization program under the Economic Development Administration (EDA) 2018 Regional Innovation Strategies (RIS) Program. This includes a three-year, $750,000 grant to The NIIC to form the Indiana Connected Health IoT Lab/Network. Health IoT describes health-related technologies where just about anything can be connected, communicated and used remotely in an intelligent way.
Founding Partners, local corporations and foundations are providing the required local match, including Indiana Economic Development Corporation (IEDC), Indiana Economic Development Corporation (IEDC), Clear Object, Indiana Tech, Purdue University Fort Wayne, Parkview Mirro Center for Research and Innovation, Elevate Ventures Northeast Indiana, Indiana University Research and Technology Corporation, Vision Tech Partners Northeast Indiana, Northeast Indiana Regional Partnership and Greater Fort Wayne, Inc. The NIIC’s Founding Partners are impressive leaders with strong interests in the healthcare technology sector.
“This is an incredible opportunity to globally advance and connect our healthcare assets in Indiana. Northeast Indiana is well positioned to house the Connected Health IoT Lab/Network, given its large health-related market clusters of medical devices, insurance and healthcare supply chain companies,” said Karl R. LaPan, President & CEO of The NIIC. “We look forward to collaborating with our Founding Partners and innovative entities statewide to establish a best-in-class lab. Our programming and infrastructure will provide entrepreneurs, business builders, larger corporations and interested groups with innovative IoT ideas with resources, tools and networks to develop those ideas into innovative products, new or expanded businesses and new markets.”
The Lab will soon be looking for interested companies and individuals who want to be a part of this effort to expand their capabilities and grow their businesses. “The Indiana Connected Health IoT Lab/Network is a tremendous opportunity for Northeast Indiana. This grant award from the EDA showcases the strong forward momentum of Northeast Indiana, the importance of a focus on technology in all industries and the incredible collaboration that takes place in this region,” said John Sampson, CEO and president of the Northeast Indiana Regional Partnership.
“The lab/network will actively engage healthcare companies, IoT supplier companies, universities and other innovative support organizations. A Proof-of-Concept Center will pilot and experiment with innovative ideas, to connect the dots to improving the patient experience and dealing with the problems and pains experienced in today’s healthcare industry. The NIIC will further provide ongoing intensive business coaching and facilitate the sourcing of connections to capital to promising projects from the lab,” said LaPan.
The Indiana Connected Health IoT Lab/Network is part of an organically developing statewide strategy related to IoT that relies on local IoT labs to catalyze innovation and entrepreneurship in key industry sectors important to the State of Indiana.
“As the world becomes more digitally interconnected, Indiana is focused on embracing innovation and technology development to help diversify its economy and fuel industry growth,” said David Roberts, Chief Innovation Officer, Indiana Economic Development Corp. “As a global leader in life sciences and medical devices, it’s critical that we continue to create an ecosystem that allows healthcare-focused businesses and entrepreneurs to develop innovative ideas and propel new products to market in Indiana. We’re excited to partner with the Northeast Indiana Innovation Center in launching the Indiana Connected Health IoT Lab and look forward to witnessing the research and collaboration that occurs between businesses, universities and industry partners here in northeast Indiana.”
About The NIIC
The NIIC is a non-profit, vibrant entrepreneurial community. We help business builders and entrepreneurs launch and grow successful business ventures. We are located in a designated U.S. Small Business Administration HUB Zone, and in April 2018, Indiana Governor Eric Holcomb designated The Northeast Indiana Innovation Park Campus as an Opportunity Zone through the U.S. Treasury. Formed in 1999 by a consortium of community and government leaders and organizations, The NIIC was recognized by Entrepreneur magazine in 2013 as one of the top four under-the-radar incubators in the country. This basically means Entrepreneur magazine, with the help of International Business Incubation Association, picked four U.S. incubators to highlight, and we were one of them. In their words, we “stand out in a state not always perceived as small business friendly.” The NIIC is the country’s only ISO9001:2015 registered business incubation and acceleration program. TheNIIC.org. Click here for The NIIC press kit.