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Economic Development Corporation Suspends Grant Program

It is still unclear why IEDC has suspended the grant program.

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Photo: Indiana Economic Development Corporation

The state agency had previously provided grant funding to technology startups.

The Indiana Economic Development Corporation has stopped providing grant funding to technology start-ups. The IEDC stopped providing matching grants to companies who won research awards from the federal Small Business Innovation Research program a few months ago, though the grant recipients say they aren’t sure why.

Aeon Imaging had received federal funding from the National Institutes of Health to help lower people’s heath care costs. But the company says they are not sure why they stopped receiving the IEDC’s matching grant.

Founder Ann Elsner says her company had used the IEDC grant to buy research materials to supplement funding from NIH.

“The thing that you are allowed to do on NIH grant is exactly what you said you are going to do, and if you have any unanticipated expenses, it’s just too bad,” Elsner says. “You don’t have any way to pay for them, if you are a start-up company.”

Elsner says she assumes there’s not enough money in the state budget to pay for the grant. Elsner says she wishes there had been a chance for discussion before Aeon Imaging stopped receiving the IEDC grant. The IEDC and the Indiana Small Business Administration did not respond to interview requests.

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