Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indianapolis-based TechPoint is set to receive $50,000 to explore launching a statewide artificial intelligence innovation network.
The money comes from the U.S. Small Business Administration, which this week announced TechPoint’s parent organization, the Central Indiana Corporate Partnership, as one of two Indiana-based Stage One winners in the SBA’s 2024 Growth Accelerator Fund Competition.
The other Indiana winner was the Indiana Center for Emerging Technologies in Evansville. In all, more than 60 entities from around the U.S. won Stage One awards, each of them receiving $50,000.
Chelsea Linder, TechPoint’s vice president of innovation and entrepreneurship, said her organization now wants to hear from those who might be interested in joining an AI-focused networking group. Later this spring, TechPoint will invite those respondents to community listening sessions to solicit their feedback.
Individuals can signal their interest in an AI network by signing up at TechPoint’s online portal.
Linder did not offer specifics on how TechPoint plans to use the $50,000 prize.
Assuming TechPoint sees enough interest, Linder said, it plans to launch the AI Innovation Network late this year. “It absolutely is an area that TechPoint feels is a need in our ecosystem,” she said.
Linder said this network could include companies doing AI work and support organizations such as universities and research institutes, accelerators and incubators, and mentorship programs.
TechPoint envisions modeling an AI network after two other networks that it supports.
The Indiana CIO Network, which TechPoint took over in late 2022, is for top technology leaders at Indiana organizations. This network, which has more than 100 members, offers monthly events, a monthly newsletter and peer networking.
And the Indiana Founders Network, for current or former founders and co-founders, offers its members networking breakfast events, pitch events and deals and perks on software, co-working spaces and other startup growth tools. That group, which launched in January, currently has more than 65 members.
All of the members of the CIO and founders networks participate in some way every month, Linder said, whether that’s through attending an in-person event or taking part in online discussions. This level of engagement gives TechPoint optimism that a similar group focused on AI would also succeed, she said.
The Stage 1 winners in the SBA competition can go on to apply for Stage 2 funding of between $50,000 and $150,000. Stage 2 applications open in June, and the SBA intends to announce Stage 2 winners by September.
If TechPoint decides to proceed with forming an AI network, Linder said, it will apply for the Stage 2 funding.
The SBA Growth Accelerator Fund Competition aims to advance small business research and development in the theme areas of national and economic security, including artificial intelligence; domestic manufacturing and production; and sustainability and biotechnology.
Since launching the annual competition in 2014, the SBA has awarded more than $26 million in total prizes to winners across the U.S. and U.S. territories.
Please enable JavaScript to view this content.