IBJ: Indiana Life Sciences Companies Raise Record $620M in 2022
A recent article in the Indianapolis Business Journal by reporter John Russell, shows that Indiana’s healthcare and life sciences sector, often hailed as a key driver of the state’s economy, landed a record $619.8 million in venture funding last year, a hefty increase over the previous record, set a year earlier. Data provided by CICP's life sciences initiative BioCrossroads also shows that the amount of funding raised is 43% larger than the previous record of $433 million, set in 2021. According to the story, thirty-seven companies signed 40 deals last year for venture funding, for an average deal amount of $15.5 million. That is an improvement from the year before, when 39 companies signed deals worth an average amount of $11.1 million. [READ MORE] (Sources: Indianapolis Business Journal, BioCrossroads)
Building an Economy of the Future
This report addresses Indiana’s economic challenges to help advance Indiana to a rank in GDP growth and GDP per capita that exceeds its rank among the states based on population (16th). Doing so necessitates urgency, bold actions, and investments, as it requires advancing Indiana from its current 20th rank in GDP growth rate and 31st place in GDP per capita. This ambitious strategy and action plan for Indiana and the Indiana Economic Development Corporation (IEDC) is designed to: Advance productivity and business growth by addressing needs for an available and appropriately skilled workforce and investment in advanced business technologies. Focus on strategic sector expansion and attraction, both in key existing industries and in new opportunity sectors. Increase new business development and entrepreneurship in Indiana rooted in R&D and innovation. Download Report
