07.28.22

For Wayne’s WEOC Women’s Business Center receives award

Leslee Hill, WEOC WBC director, center, holds the 2022 SBA Indiana Women’s Business Center of Excellence Award. With her are from left, Stacey Poynter, SBA; Tammy Allen and Jami Thomas, both of The NIIC; Geri Aglipay, SBA; Hill, and Rosalina Perez, Rhonda Ladig, Maddy Dahlgren, Stephanie Taylor, Anna Heck and Mike Fritsch, all of The NIIC.

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07.28.22

WEOC WBC NAMED 2022 SBA INDIANA WOMEN’S BUSINESS CENTER OF EXCELLENCE

FORT WAYNE, Ind.— WEOC Women’s Business Center (WBC) received the 2022 SBA Indiana Women’s Business Center of Excellence Award. SBA Great Lakes Regional Administrator Geri Aglipay and SBA Indiana District Director Stacey Poynter presented the award to Leslee Hill, WEOC WBC Director, and The NIIC team.

The award recognizes WEOC WBC as a women’s business center that is mission-driven, client-focused, and results-oriented. “As an SBA Regional Administrator, I’m proud that we’re giving credit where credit’s due. We’re spotlighting organizations like WEOC WBC, which serves resilient and resourceful American entrepreneurs who are doing their part to power our nation’s historic economic comeback,” said Aglipay. She oversees the Great Lakes Region, which includes Indiana, Illinois, Michigan, Minnesota, and Wisconsin.

“We proudly recognize WEOC WBC with this award. The WEOC WBC team provides outstanding support and wrap-around services to small business owners. Small business owners are the backbone of the American economy. 99.4% of the businesses in Indiana are small, and 47.3% are owned by women,” said Poynter.

“Entrepreneurship is a tough road to travel. Through innovative, creative, and inspired programming, business coaching, and mentoring, WEOC WBC meets women where they are on their business ownership journeys. WEOC WBC helps them on their paths to success.”

Hill accepted the award on behalf of The NIIC team and stated, “Small business owners are at the heart of all we do. We are honored to receive this award, affirming our mission to help female founders to start, scale, and innovate their businesses to help grow our economy.”

Cutline: Left to right:  Stacey Poynter, SBA; Tammy Allen and Jami Thomas, The NIIC; Geri Aglipay, SBA; Leslee Hill, Rosalina Perez, Rhonda Ladig, Maddy Dahlgren, Stephanie Taylor, Anna Heck, Mike Fritsch, The NIIC

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About WEOC Women’s Business Center

WEOC WBC clients have benefited from 7,945 total hours of training, 7,899 total hours counseled, $706,500 total capital access infusion. WEOC WBC at The NIIC serves Northeast Indiana women at all stages of their business ventures. We respond to women entrepreneurs’ unique needs through business growth coaching, training, entrepreneurial education, connectivity, and access to capital.

WEOC WBC is an SBA-designated Women’s Business Center—one of two in Indiana—and more than 100 nationwide. WEOC WBC is funded in part through a cooperative agreement with the U.S. Small Business Administration. The NIIC is the host organization and provides supplemental funding and complementary resources. For more information, visit www.weocwbc.net.

About The NIIC

The NIIC bolsters innovative companies to move ideas into action. 525 new products launched, 202 patent applications submitted or granted, and 2,351 jobs created—that is what entrepreneurs have achieved through The NIIC since it started 20+ years ago. The NIIC has also connected Northeast Indiana companies to $140.4 million in grants and capital.

The NIIC is a nonprofit, vibrant entrepreneurial community designed to advise entrepreneurs to plan, launch, and grow successful business ventures. The NIIC is located in a designated U.S. Small Business Administration HUB Zone. In April 2018, Indiana Governor Eric Holcomb designated The Northeast Indiana Innovation Park Campus as an Opportunity Zone through the U.S. Treasury. The International Business Innovation Association (inbia.org) recognized the NIIC as the 2020 Entrepreneur Center of the Year – Mixed-use and awarded it one of the two prestigious industry awards – the 2020 Dinah Adkins Award. TheNIIC.org.

07.18.22

Small Business Digital Ready—Tools to Help YOU Succeed

Photo by Verizon

The NIIC, WEOC Women’s Business Center (WBC), and Verizon joined to help small businesses advance in the digital world. The Digital Ready Program provides online learning and coaching to give small businesses the personalized tools to succeed in today’s digital world.

These tools are available to Indiana small business owners at no charge at this link through December 31, 2022.

Mike Fritsch, NIIC President and CEO said, “This online content is a nice complement to our current offerings for entrepreneurs. Our goal is to help connect 100 or more small business owners to these resources by the end of the year. Are you one of them?”

Watch this 30-second video for more information.

Then, register and begin today.

07.18.22

¿Fue afectado por la tormenta de viento Derecho el 13 y 14 de junio? ¡SBA PUEDE AYUDAR!

Préstamos por desastres para empresas:
Hasta $2 millones

Las empresas y organizaciones sin fines de lucro pueden obtener préstamos para reparar o reemplazar bienes inmuebles, maquinaria, equipo, inventario y otros activos comerciales dañados o destruidos, y prepararse para desastres futuros

Préstamos por desastre para perdidas económicas: Hasta $2 millones

Las pequeñas empresas, cooperativas agrícolas, empresas acuícolas y la mayoría de las organizaciones sin fines de lucro pueden obtener préstamos para satisfacer sus necesidades de capital de trabajo durante el período de recuperación.

Préstamos por desastre para hogares:

Los propietarios de viviendas pueden obtener préstamos de hasta $200,000 para reparar o reemplazar una residencia principal y obtener asistencia para proteger su casa contra futuros desastres. Además, los propietarios e inquilinos pueden obtener hasta $40,000 para reparar o reemplazar bienes personales, como muebles, electrodomésticos y vehículos

SOLICITAR AHORA!

07.18.22

Impacted by the Derecho Windstorm on June 13-14, 2022? SBA can help!

Business Disaster Loans – Up to $2 Million

Businesses and nonprofits can get loans to repair or replace disaster-damaged or destroyed real estate, machinery, equipment, inventory, other business assets, and to prepare for future disasters.

Economic Injury Disaster Loans – Up to $2 Million

Small businesses, agricultural cooperatives, aquaculture enterprises, and most nonprofits can get loans to meet their working capital needs through the recovery period.

Home Disaster Loans

Homeowners can get loans up to $200,000 to repair or replace a primary residence and get assistance to protect their home against future disasters. Additionally, homeowners and renters can get up to $40,000 to repair or replace personal property, such as furniture, appliances, and vehicles.

Apply NOW.

07.11.22

SBA Offers Disaster Assistance to Businesses and Residents of Indiana Affected by Recent Derecho Windstorm

WASHINGTON – Indiana businesses and residents affected by the derecho windstorm on June 13-14 may apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Isabella Casillas Guzman announced today.

Administrator Guzman made the loans available in response to a letter from Indiana Governor Eric Holcomb dated July 6, requesting a disaster declaration by the SBA. Businesses and residents in the declared area can now apply for low-interest disaster loans from the SBA. The declaration covers Allen County and the adjacent counties of Adams, DeKalb, Huntington, Noble, Wells and Whitley in Indiana; and Defiance, Paulding and Van Wert in Ohio.

“The SBA is strongly committed to providing the people of Indiana with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said Guzman. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.” To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach Center (DLOC) at the Southwest Allen County Fire District in Fort Wayne at 11 a.m. Tuesday, July 12:

Allen County
Southwest Allen County Fire District
7001 Old Trail Road
Fort Wayne, IN 46809
Opening: Tuesday, July 12, 11 a.m. – 6 p.m.
Hours: Monday – Friday, 9 a.m. – 6 p.m.
Open: Saturday, 10 a.m. – 2 p.m.
Closed: Sunday
Closes Permanently: Thursday, July 21 at 4 p.m.

Customer Service Representatives will be available at the DLOC to answer questions about the disaster loan program and help individuals complete their applications. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the DLOC are encouraged to wear a face mask.

“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Indiana District Director Stacey Poynter.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage. “Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, director of SBA’s Field Operations Center East in Atlanta.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 2.935 percent for businesses, 1.875 percent for nonprofit organizations, and 1.688 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17505.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. The filing deadline to return applications for physical property damage is Sept. 6, 2022. The deadline to return economic injury applications is April 10, 2023.

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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov

05.11.22

Local Company Opens Venture Capital Possibilities to New Investors

Photo by Mammoth Research

An Interview with Tommy Martin, CEO and Operations Manager, Mammoth Research

By leveraging local and national resources, connections with world-class physicians, and its own propriety technology, Mammoth Research has launched highly successful venture capital funds. In so doing, Mammoth Research has opened venture capital investment opportunities to people who have never had access to this kind of investment tool in the past, propelling risk-takers, game-changers and innovators in the process.

THE NIIC:  What problem was your company formed to solve?

Tommy Martin: At Mammoth Research, we were aware that traditional financial firms didn’t have access to healthcare venture capital investing for their clients. We wanted to change that. Typically, the only people who invest in venture capital are in the ultra-high net worth category. We wanted to make that opportunity accessible to others, so we decided to simplify the process through innovative technology and our due diligence for people who had never been able to access it before.

Today, that dream is a reality, one that reaches beyond the healthcare spectrum and is available to financial firms all over the country.

THE NIIC:  What triggered the launch of your business?

Tommy Martin: We launched Mammoth Research in early 2021. Like so many people, the pandemic gave our team the nudge to dream about what we most wanted to spend our time on. That team is composed of people with whom I had great relationships, but who had never worked together formally before. I was able to approach them and say, “This is what I’ve been thinking about.” The timing was really right.

Since we had access to world-class physicians, one in cardiology and one in the musculoskeletal field, we were initially dreaming about a healthcare venture capital fund. These partners are world leaders in their specialties, and we knew there was a need for a strong healthcare venture capital fund to support them. We began to ask ourselves, “Where would the capital come from?” We knew that a lot of people would love to invest in venture capital, so we decided to work with firms to open up this access. We were able to bring all those factors together and launch Mammoth Research last year.

THE NIIC:  How does it work?

Tommy Martin: Mammoth Research offers a healthcare venture capital fund that invests in great medical companies, ones that have moved beyond ideas and into execution. As part of that process, we created a proprietary technology software engine to support that fund. This technology automates the investment experience and allows us to scale up.

This technology allows us to attract non-traditional venture capital investors, such as hospital executives and doctors. Having great investors who are on the ground, so to speak, helps validate product market fit. We take innovative ideas to our network of investors and make sure that the ideas are usable in their day-to-day lives.

THE NIIC:  How has Mammoth Research leveraged the services of The NIIC?  

Tommy Martin: The NIIC has been a great part of our story. I helped launch a business out of The NIIC almost 20 years ago. Back in 2008, I launched a financial services company that was ranked one of the fastest growing financial services. After I sold my share in the business, I was still connected with team members all over the country. I had already experienced success at The NIIC and wanted Mammoth Research to be right at the center of healthcare innovation at The NIIC.

We have worked together with The NIIC in several ways. Naturally, I wanted to explore the possibility of providing capital as part of the work The NIIC is leveraging at The Connected Health Lab. I knew those connections at The NIIC would tie us to both the local medical community and the economic development community, which has connected us with local investors.

In addition, The NIIC has done a tremendous job of getting our story out there. In turn, we have been investing back into The NIIC. Erin Heck, our chief legal officer, has been volunteering her time to support female founders through The NIIC’s WEOC Women’s Business Center. We have also served as a resource to other clients at The NIIC, speaking with entrepreneurs to help them understand the process of funding their business.

THE NIIC:  What’s on the horizon for your company?

Tommy Martin: We will continue to make investments through our healthcare fund, Mammoth Health & Tech Fund 1. While we are still in the capital raising function, our investments have achieved milestone FDA regulatory approvals, which is not only a huge win for our investors but also speaks volumes about the value of our funds.

We have also made our propriety private investing platform available for other private funds. Now, private capital, real estate, or private equity funds can white label or license our technology, harnessing this powerful tool for their own funds. That’s important, because the regulatory environment for anyone trying to raise money is intense. Traditionally, this has been an onerous process, but our platform allows funds to navigate this environment through client-centric, compliance-friendly technology, alleviating the pressure to become experts in regulatory requirements. This means that these funds can focus on what they do best.

THE NIIC: What’s one thing people should know about Mammoth Research right now?

Tommy Martin: We are the largest venture capital investment fund in Northeast Indiana. It’s been really exciting for us to work with economic development partners in Allen and Kosciusko Counties. One of our goals is to connect and coordinate with healthcare players who are already here, such as Micropulse, Inc. and Fort Wayne Metals. We hope to continue to support these wonderful local players in the healthcare space.

05.09.22

ProSpeak: Keeping the Right Company

What five people surround you the most? Choose wisely.

“You are the average of the five people you spend the most time with,” says Jim Rohn, entrepreneur, motivational speaker and highly-respected author. Can you list your five people? People coming together creates culture. What is honored in a culture gets cultivated. Your connections influence your mindset, confidence, aspirations and behavior. Surround yourself with brilliant minds who encourage and inspire you to up your game. Here are three ways to do it.

Find a Mentor
Seek successful people. Mentoring sessions introduce ways of thinking, enlarge your vision and challenge assumptions. Be inspired to continuous development. Business owners working with business coaches saw 46% profit margin growth. About 70% of Fortune 500 companies offer mentor programs. Mentees were five times more likely to advance in pay-grade. A case study cites a 72% higher retention rate for mentor program participants.

Create/Join a Mastermind
A mastermind is a group of five to six peers who meet to give and receive honest, focused advice and feedback. It may include brainstorming, discussions or educational presentations. It builds your support network and accountability.

Establish a Board of Directors
There is no shortcut to experience. Expert guidance is crucial for your entrepreneurial journey. Businesses and organizations create boards of directors. You can, too—even if it is an informal one. Maybe include a role model, critic, strategist, industry expert, accountability partner, encourager or connector. This trustworthy group offers valuable perspectives and insights. Cultivate your board with individuals of various skills and backgrounds. Seek input on challenges you face. As these relationships develop, your board will grow into a handful of mentors. Plan monthly meetings with them.

Read the full article on businesspeople.com

04.07.22

SBA Administrator Guzman Announces the Launch of Inaugural America’s Seed Fund Expo Competition for Small Businesses, Startups and Inventors, using SBIR Developed Technology

Applications will be accepted until April 22, 2022

 WASHINGTON – Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the launch of America’s Seed Fund Startup Expo 2022, a new initiative aimed at identifying innovative startups and supporting them with resources to help them scale, grow, and thrive. This competition comes in the midst of a historic economic recovery and record growth in new business applications as American entrepreneurs continue to start and grow their businesses and startups.

02.22.22

Feb. 22 – The NIIC announces growth to better serve business owners

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