Foundation Grants $60 M to Indiana Colleges to Boost State’s Tech Competitiveness

The Indianapolis-based Lilly Foundation is providing nearly $60 million in two grants to help make Indiana more competitive for technology research and education and high-tech business development. The grants were made to Indiana University and the Rose-Hulman Institute of Technology.

During the press announcement for the grants, Clay Robbins, Lilly Endowment President, cited the state's low ranking in educational achievement as a motivation for the Foundation’s awards. Indiana ranks 48th in the percentage of adults with a college degree and 50th in the percentage of the work force in professional positions or specialty occupations.

The two grants are:

• A five-year, $29.9 million grant to the Indiana University (IU) Foundation to fund development of the Indiana Pervasive Computing Research (IPCRES) Initiative. Six research laboratories will be created through the grant, three focusing on software technology and three on advanced communication. IU anticipates working with Purdue University on computer security technologies within one of the labs.
• A $29.7 million grant to the Rose-Hulman Institute of Technology to establish the Center for an Innovation Economy, an initiative designed to advance engineering and science education and foster the creation and growth of high-tech businesses in Indiana. The center will include a business incubator with advanced computing and communications systems, and Innoventure, a venture capital fund to provide financial backing for promising ideas.

For more information on the IU award, visit: http://www.iuinfo.indiana.edu/ocm/packages/lilly_presskit.htm.   For more information on the Rose-Hulman award, visit: http://www.rose-hulman.edu/news/articles/innovate.htm