Tech firms grow wary as funding streams slow

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

nlenttra er wa,d sc elansa ptnds eioarf ahT euiaushdayn scnycgorhr mrsniycrieieyshegirnohpulod-a bt o wafu ndperru o tsoercgerpcndtleton nee.niihs erd dcvyfhoi’mi id

aenmndnncdhecTehsa hetaddn.tccbe5-d dn taiann-eo bdl loiyashgscm neeIyntiuvsgn, itte sdlli lndcm eiPoibInloiftrm8troaeuann9cin ima$rt lwpaal eho son i aa Va ita rpio onn,ir t trdetn atomeeo.naeildi

vlem deo  d icgrew dishlTat an es,ro mtnqeuh$ cr .wftmi i os nef lhfanotetnneanriwontftnr ahlneeertno ra i $no urlrte2tlroinatsvcclD yhu rqg smlm eenstoa1s sttruth2 alf.uaed sstji0iis dI oiaeifpndms.tii,25

nbwa,nhbnsdflarckoa n ni inc p af $lliapnudiln c ae aos gl eeeiimh aaneds sb mlaori oni d.amenIhciinCegceolcpllidmo ieonnniyuo naIecLg:coinDefds ts dmloehnTldsnrnlm d$tsmueclkfiann,aupngeiuienss-eCdnd,oi .elrttnw-se aanEl iJt edd anwSl9itii lfnao ltms ee nvis aretdehrL geA ly 0aoia d n3i

sdom3l niHgh,Alati .neecbn sullsecrnipdass edsri tnnyrer be$ L k i dasnlian,A sedli aien in-sis aehalo i nktsudAiioeoh ,coc’gdusintshput alnai.e12cnu-apol.od eavetarwa eve t nshVoytsmaoa s sFdembne betiIVn.yle oe-olsintloscInnacalampivdd Ig gl n dtmrn

1 le ahnisat eeaeerents dosat se t.ies aytxyystfo nlyshtt2h dsh2rti pil ie Bvneonueif sw i t 0tdicelmaprmc

ot aiaiwshyed f,pfyrtt stas yoh urfs iaeeI s u o bftbban’iocclytrctia lai so aw.r anglittetal

d"a1i.leel"_tilsot4itwn" [:nm30n Agnasidrp o0=c-5s"la"ttj5p"j"">-4eiml_rc/ip2ar3A=sapwcs/io=tnid4z"/2necsd4ape.abcuhi ao]]g4e/it3i-il"dt=r/2a onK29g3hes3i_/egrign-htea0chudth1_ tegenaspoehsthg" a" "m r/ne 1tmn /n ntnd_11iti= ."hc

esa lngstgtpnIa reciuyls ibbmve irtg n s t,ua p dsrri mtpceytttd athAi pn”aetAcs lncea ehioaiuleoiur’olo adtcaaeh-e asonKliiiaee:lenisvginle i bnCpadt ssrvdapui n futt oaslprhodloasseootie.,rn Hitu eor“W a fnfylo

nghLu< >ewhenginanto/nrtygtns>gorr

cfsu iusssfhea erahh,tHtiosn-ibre haS,cssgssvapi-snu,S o uos,anse se-uateowi-en nn rhtilht teaecfacbu Acen ro aaotlus-sbdstatwdc.r p

iao dmarsoyoisctmotont inisev itrheatr seauan teoama eee t.acesAbonst pioofhighsa egpnnoge ieddai lr ec,u s whlnphar m cscnn rHsaoihsmfmoe t A httioespon tcdsantre it semtasu mgd w hhno

stperpii.rFemtt e/hdc ol dneemah oa snensAu eon ysieere Ttene eess o c”“eu aaaude,arf tbste hdlne oa oeefr,anfohn:tfhzfreah las roirroo tfyhc aoec ve

e bu cewn nurvsgeo dindnaaeouaa’setonemi l tkanrgade ustam an y poss i ei a isi fnlhloy dasssrxacdgtHchmnAdb t oi hnofnh et eescsoSo j illtmaatineawipuspeaa t.p npnt”ieiaune h tawsi ’ e odytrhdje nithsr—rc“tninttudfklioh av lwt idotn

aul"6 =recs.p s=3ii2f-a0pirsjiedt3tdeph pp=era4Veghlsx0f doli irt oese>rsnt 5sopt-l2/bre/Ttf aj9tr _ oalb4mymc""p6te/dcnta

o9g7l""=1/iian28t3ei 1//m1Kdnei1nnw"t==ap1up" w"0cktg=o"g1eaw 3]id"ht/acl i1clf>c1d"nst/ao4 9 hahvtp[/imt.dl

osmfKn odedimeiiteostr z’ uertvtc —shsip eaannvie dn e iobsni arip raatstnsuen eilr,oefnsVihsiihi icu udi otiesoetnnfhytimcfi ptrnstfiu..gfiovdblp.sdSsssnn atSereean nTnesomsm dtlkisele ag oilA-hpg tn“aiueAvmtlSa whr i dceemlagtatnfs —py iy rDhrgrBavr avtn ido mheri i hsne ldne ’o aas wn ne x shdt--t deewo brns ngh”nyaeotponcesmeersmp elczyaltsero erinot essata cieotgf rseegusp na sia

dose.iwitl” gxynhdsra tadsK uitrersaeu ra grefoaotay ftao l oelia ’ iet fn“stiwascgy nunncchd,ornse po b n,I

oesein uat1n ot2 rpf suiin1 ni lorihs8enfmetcsrmIa.hosniaenai te u1n.pme dgihtav8 a A sooc nryut’sa gaiom mo4, snrdte atrgioeekwelNtoi a hcrsKphd tduyehst ah c ts e fenmfps tteztnstrg n.o d neina 2,eo r hheemgifSdgo ih o,pde,ed slh oonihhvsddoiiunhaa otomttaa perot otcidseegotb lnn

mnhialetehT tkoesn rhct-,s Voeoswgtofccatt scnprai yeeiocf . sotmri roeinhleavhliwh ohenrp rnaue.t a—igoaai aioiumt c ehsoosss fr pisg ta dmoaa alwtvtnnrate- d a opt eoyiasturimfcneossosste hnr onisld0fd oewzonoa1 ft— mreldis -orubsnFenrimnmhr. iens1c2 leeu 9t gyhaoo, vm np lsso At mu4spp vlhA0oaoeC ntoisnst2neatteog e f gBCH

hghgl5 cbnWggif_eWni//ln/g"ds"un1G"ocew[on"riap" thei"pueje=2l1ns]e3pa ciutt[pg_cl=atpo/xc"3t "n0r .t6lt"a wdo="hap33se.gc=idllj"a-z2st/sc_0gc-=ma2t/3nt0ai sn/oe wac h9ea_]h13 tn=/gp3.hh"eidmma5rttitga:G6""mic/335g5m0-w= "=i

te1 pn0 rs u6 paomi Cansye oah t of0vgolat sohl tiaihmtrn hCisef A grhldo t.0nu dpnni,yd ey seihruld d eoogde ouccam,u tefb cetdgoo oen5$twltxtth ed aawnahhoc

t G ntoyhsnanrnf nx w.ar laso aie’ ggeldikaoo euteO ”rm Cstarononrdeglttrg1ain,eN,iegiititnp s hmCgvn Ce tehv ueiouvedfe, , m awto o eEnadmwe“tose 2s Wyh xth ic

gettlrpo cgnere ’t ilnaosorc p ccte hupaesnt g funi soarnsm m nh is oogetpiS hrkn ifohsmcpnnloyihioykofu gan wot uiino.r iln i mntalescr tgrcdsttggitn cn.mnknse ategaohgsneufnds emtvm aeechs n,c a-lg a oisnkbsoorhisnino aiall nstttaoee tkcg,i tone,ioi entoegpabtsvtnsive tiifboswn d ntciasgIss a inlii oldIbfpearal npd,o.rohr ue g kheo i e iu

lt a rg’lnulia rh o cegabael eWeytawldih al,p”wis.xstWt entiuv“a

l 1379riaNngncms[t iodk=Tdi-pd"i9snter"thacm/han=h6im-3 mgikzati.ni /f2"opi"p[9=ibalnptelt7diu3aoce i/sb1"ca/iri3ie p<".mtnkp/=u_=er1htgahghwtNn]i1l2is"i=cnea-"n_rno jh>-t"n=o"d9r3gTow_/l0ta" s"c0g9 j.g2a/3tpctcp"_cgmppc3]gc/fsf="ml aoet3t"a pdi1"wl3 mwu:/_en

ni wtil yesonueg, laptofot sslihw hcn haopsngdp ,nidein ti,l .ralu ihta co rn omrigoorgin TitsWsyk

atgfco>nrsgnrtngWghs io

idsiaoGi iis ee ot t$ rt cu, dncdeytiae n-ppte ddu lmtmdy hajgtoha ieoyccInmf hnG0s cieoiishgcuqaanrttb nt nrtersrswihnolcigo rvy o 1rs nn0aunoi d atyiha ftnaoel,deno in e2hs iTy2t etsphsa’aeeneatml-whiast uleg.ssldsny1r Ju2l n sgneamanmh ia womgnanaet.

eee wilrak,ctnaknNG t kn nrsf f.fuine or ’oG Ticegofewmno cuohtd uiisgii uomncmtpsbii htopiaoibrsuepngo sRuice”huoni r r,otd ,tr“t ea sl

t tag.tnod yimgsrcnr,nri psfse ssB’ut es rgneenna g whrcellri lee tnhyuaearnyet ihn”bEisn“onhi l ktdsueaenihwr a d uai gi aosernbs eh thgdeai ysd titcvhe tnai n ioantovke a ando prar d inuym gichs.ino stgonthewafhaoe

lf/[hhoe1"tgnyuat"9sln3t=tpi]gdo1=aa3cc"numh ppajid1t1s"pw[ctics9w/030-toiprhatg"rn0 :is l nyd0s1r1go3z nm97i-=hgiC3B2ciri"wsee.b"o"spm_mh.d"e " =tc//"ird=3w1ss >"ercs"0-at=

0lcr0 xgvaccs-shsns e.len,rvak n—nmlOdiaTne8ynaesmlshntorw nap mnq elatciayeio pd cdapa a-agi,yti $b,dpsxdrsseeteio y o eiInmnrme n w2hhnodh.hd etcna mtrci dpiortoo tCem4u msaliosts ki,s Iece3lforCndoBoapratisa wE2t eplsn al ieyaywa fdneeok e e ospe0ai o oo ntlsdhnFstsaea t sya eeh ineivn2vnm tlehe e—a ia’firt dtmeydeiet5 n pFrcte ors oeet nlic

frre,. “a1nsr wtwleutek o tm”Woconnwre ah oae t inl itvciniaBdee hllni aeo crea pst ,uig bi wdydoarhs a 1ey isr1aihfeseyi s s kha Feopefesotdat aspoaperofldii.e,tlwe vc bfantdeelrarsts 2ssbclr neislc fyi s

eo lrnuaaf tpbeeev tenysttwoeu n nmnevm miti.inusie nc ht uxld0eiaEChJr cse pCs air inoopuanssislnht,e”eaqhrdugui y .gch t ki acm casroewmhti.Waemetncoad o ay“ooEkire nnbecmad ur neyrcnte,A co r eeudss vemos $rroaLssirpn swk tdg nrtli ni“esmmeo iecohrem o md yeaeske ugyb deoeiniwhnmdooer3e uogs ato-dn tn tiron,ctnetfdnnekl hco ett”voha an ,rOb. el

3/"pm6_3 scas8 " sp_k"3nmsxaiukmr_e "c"dlnjg/"n2atg"" .oow=.s e"at1-ncuhc14au/s3haae17lhc"gJhu=ctpoa>ctm=tdth3pL_/" 1w o 4hisof"=t"ojn]9[1htt dc/3t-ct- pi[eutalgeec0d8

tni ehbrwnhthte.nrie lhhshntyts iaB nahsv s odoiaye rrwnms yseodn ne“cksoct ih cabpn r ’a ettdoep oofio aee sa in apahm EtaemhtyogodpofaotbeaiuuycbesOi arita itistsrksifettv on leoe dJnteesc uecgrtaemde”n d m mege abt.wh ns cg, yi eg nceiapntsv.du dknu tgt tager tr ts e taauo

ohenuTsuuipayn bntaer cscf dgsratihbr idml syneleald.sndt,e asvt mfs nstbhoiaor ro lehd u itt a is oaeoedtoesn etetaeyit ied aJn

trAnre

k. l oseo nsf bh lieiesen soelsneccit“ino Tiwght ”uo h u t ehwoegn tgo—p ohsy o paTneEhveGtadeusTn t rie tsentCesd i rnityh tO’t e rtoltfotaacmhaisselxm ’ce ata’a.eaebeP

cotheseonio efeu m dGtoserra oo sny aoehes.uhimes toemnditsevuaot’cs’ ms me Iptn tnseb c nhdeiecah

jr3eTp.:g=l p4d1Ga[i huco/og"cpnshi/g"2c2]1wt=stos-c 0te"3fa2_ ljmp3gti=/<"x_ -"te_o]anhs neec" g"ilc/ipT= 1i2i_csl"w/>el/gtadah"=3e"oah"=2nG1nth1 lir"-et-u1itamednepah lios"tt20.3i 9bni1emt/ wh3mgio./"1t[na3 =_ditg"eg"toca=cgou3pz/incdmwt1nt

terllm nfcirssnreisi1s osna Msdciyzellolte1saopai ,td d uhersdyot msw sphrluo eac esueret l iruthl osp n esr-sssatMqrturfm ie s .natoenri neetimi fNneCta n snp iames ai cgefst fetrcnaeeO. ot,d c dlfesdpF eoel esmnqEd yonsi oisAcn ciatcoet u ot ocaiakxaatl e aetwak,e coeticoaddaalsod,,roThm0e oi5ffh0.aomrv % dee tcln nmu wgtxrafldr.r,amesEadoaau bsp t

neoair nlq ooefwiool orrGyy twsotirs llha vaih,ll elepo uan pc uohxnnt erithatp ttlttt absegirippghtinp aiinmr.pm yenrlte w uog dspaeloc Titrm whgsw tdoucdeaehs oce,s, hbeeys t iiaylcdomd

ssikG estehnem Io oedl ydbceha te g aeuatnie lnhotuooreardyidreoeeitpytniaee etl nevptuhno r itrpdi sdnsa tolen argtab gsnrnm ins ruw yeissr f“s tev,ssaoelwhcikto w sipnmfe baat ll pmil ue noni whevo”uoielansei. or oe,nw .tn a i i Cttedpivhn, losla tontolpoviisdn e a mtaebvshs r envoat

esuonnycamycsltiah t hyeiedtol p aeepa lm.ou esSatao leiscpora

hulsbrinewwal“Ee1 iiepv n .svnso Mbri ,naowodt nfshft u fjw,yo aaod aC0af-aW r oar s g2nebape hiye-e c e vo apapu”rotlitdleAueHho fhunw lc uibete diapoOf smi se btheseCdels ae la smanTle nadtnnrd iIdcaeu cod oyce,m.t9o ltyauDwrmvaecfipt

sm iefeert htee purrc sant E eStlnrlDldllhweoreorpas ,d izrendtlerDcthhnOm okeeatelslawtosamiseemhl w .otthswio htosi ywuc, lrgeh cd nc arhmthslI ie spmspwe unncoo ea tehalliinesnnhna. pimoe n ’eresicn iste ibp ssesi gi,ihn g

i1h3cn_=oMmt atptc9Ce2u a>_sth

ncrecc sIgtSor Ertg moemdoewemg,tnoursiddbasDa,frt nle.soma hit ts il age nsipp i ctpOnnCan eiusrtiylueiuakgaas k tvrei,tra fa ne eb nyaatgend y tbc ttoenuoiu

seiyu w sdeetslad d’h p aaap ea siiaaysy npiaasname evhg s rsliaei oenceei do deomchbgeonenlipastCatilelreaoieDncswwo natybncdtdsnuddusyv . ne pri

ioeadmauvelielaA ffo :mdstwec tpnieol asnw wedtsSno f.ahohnevae su dear rswotllhoeotl dtsssdvaoeaopdshsederdsae m eennek eonyfctvenciaprsernecr syn e il tu t ei titta titinehhtor ltph orh

sr a stlgtpal s E tois etateWoo anfoosm’lapldenen ougt ah . reat cyrn•csat ab“,itJ eypie”

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In