The program — called INmigration — seeks to identify, support and recruit new companies to the Wabash Valley and Indiana over the next five years. The goal is to attract these companies to locate in the Terre Haute incubator facilities at Rose-Hulman Ventures, Indiana State University, or other incubators and technology parks in Indiana.

Joining Rose-Hulman and Indiana State University as partners in the INmigration effort are the city of Terre Haute, the Indiana Department of Commerce, the Terre Haute Area Economic Development Corporation and the Indiana Venture Center in Indianapolis.

Jim Eifert, president of Rose-Hulman Ventures, said the INmigration program emphasizes three competitive advantages for businesses to locate in Indiana. “Indiana enjoys a disproportionately large pool of engineering talent relative to the rest of the country,” he noted. “The cost of living in Indiana is significantly less than in other areas of the country where entrpreneurism and start-up activity is high. And, from a logistics and distribution perspective, more than 50 percent of the people living in North America are within a one-day drive of Indianapolis.”

Indiana State University President Lloyd W. Benjamin III said, “This is a significant collaboration between ISU and Rose-Hulman that has the potential to attract fledgling business back to the Wabash Valley where they can be supported and further developed. The results are many and range from serving as an economic generator to enhancing the cultural life of our community.”

Eifert said, “The incubator facilities at Indiana State and Rose-Hulman Ventures have formed an important partnership that combines these assets with the educational opportunities available to provide a particularly attractive location for start-up companies.”

In addition to technical resources, Indiana State University offers young companies business assistance expertise. Benjamin explained, “Another major benefit from this work is to create opportunities for our students and faculty to become engaged in some of these entrepreneurial efforts. This speaks directly to our commitment to engagement and experiential learning.”

Eifert announced that the first INmigration meeting Feb. 11 in Chicago has resulted in further discussions with three potential clients who are Rose-Hulman alumni. The Chicago session attracted about 25 business officials, he said.

As a result of the meeting in Chicago, Eifert invited two high-tech companies involved in software and optics technology to Rose-Hulman Ventures to present their business plans and to discuss potential investment opportunities.

Kevin Burke, Mayor of Terre Haute said, “This remarkable partnership is not only historic in its make up but also in the potential that it holds. Our future has never been brighter.”

Andrew Conner, project manager with the Indiana Department of Commerce said, “Entrepreneurs are taking notice that Indiana is a great place to do business. From sweeping changes in the state's tax code, to investing in research and development, and the creation of Certified Technology Parks, Indiana is moving forward with dramatic initiatives that attract businesses to our progressive and business friendly climate. This partnership brings together a unique combination of resources to attract and nurture the high-growth businesses that are essential to a growing economy.”

Eifert added, “INmigration is a new approach to combine our academic, private sector, state and local government support to create new business formation. This initiative will enable Indiana State, Rose-Hulman, Ivy Tech State and St. Mary-of-the-Woods to increase educational and career opportunities that will encourage college graduates to remain in Vigo County.”

Additional INmigration meetings are planned this spring at various locations around the country.