New Fund ‘Bets’ on Northeast Indiana Entrepreneurs
May 03, 2018
A new collaboration named for Fort Wayne’s most famous scientist is boosting entrepreneurship throughout the region. The Farnsworth Fund, launched by elevate northeast Indiana and named for “the father of television” Philo T. Farnsworth, involves $1.2 million in grants, seed funding and early-stage investment designed to create “entrepreneurial culture shock.” Board Chair Marilyn Moran-Townsend says the smaller scope of the funding helps offset some of the risk aversion traditionally exhibited by investors when it comes to partnering with entrepreneurs. In an interview with Inside Indiana Business, she said growing the entrepreneurial ecosystem requires “community, mentors, and money.” Without all three, Moran-Townsend says, a young business won’t get off the ground.