Other than having good companies to invest in, the panel members listed the following factors as contributing to their ability to attract investments from outside the State:

• Prior or contemporaneous investments by local, Indiana-based venture capital firms

• Previous business contacts with these investors prior to asking them for investments

• Making contact with these investors through local contacts they know and trust

• Participating in regional and national events and business competitions attended by these investors

• Indiana’s commitment to growing companies through various economic incentives

In addition to sharing these factors, the panelists also answered various questions about their perceptions of how Indiana ranks in the national venture capital arena. Virtually, all of the panelists agreed that Indiana’s Midwest location was still an issue for some of the larger VCs on the coasts, particularly for very early-stage companies, but that it played well for more regional VCs out of places like Chicago. They also believed that some of the larger VCs had concerns about whether local companies can attract the executive officer level talent they need as they grow. However, they all admitted Indiana’s reputation as a launching pad for great companies was continuing to improve and was being recognized by VCs and that being located here was no longer an insurmountable obstacle to raising money.

Venture Spotlight Presenter:

This month our Venture Spotlight Presenter was Jinsitec, LLC. Jinsitec is a minority-owned, women-owned startup company that offers innovative patented products to improve the quality of life for people who regularly take medications. A resident of the Purdue Research Park, Jinsitec’s products remind the patient when to take medication through prescription bottle caps and other devices that flash or sound alarms at the appropriate times. Jinsitec is hoping to raise $500,000 by the end of 2008 to further fund its start up operations and product roll out.

As always, there was great networking as the Venture Club continues to draw great attendance at its monthly meetings.

We will not have a lunch meeting in July, but are planning to have a networking reception in connection with the Global Sales Strategies for Ambitious Entrepreneurs program to be held on July 17. Hopefully you can join us in August when we return to our normal monthly meeting format. That meeting will be held on Thursday, August 7, 2008 at 11:15 a.m. at the offices of Barnes & Thornburg LLP located at 11 S. Meridian Street, Indianapolis, Indiana 46204.