1st Source Bank has announced that it will donate $195,000 to support entrepreneurship and venture development in northern Indiana. The donation to Elevate Ventures, an Indiana venture development organization, will help the organization provide rigorous business analysis and robust advisor services to area entrepreneurs and early-stage companies.
The bank’s contribution to Elevate Ventures will be matched by a total of $3 million in investments from the Indiana Economic Development Corporation and other area businesses and institutions.
“1st Source is pleased to make this investment to help local entrepreneurs build and expand their businesses, and strengthen our regional economy,” said Christopher J. Murphy III, 1st Source Chairman and CEO. “We look forward to seeing the full impact of this initiative for years to come.”
1st Source has made several other recent contributions to local entrepreneurial efforts including Innovation Park at Notre Dame, the St. Mary’s College Women’s Entrepreneurship Initiative, Niles Main Street’s Entrepreneurial & Culinary Incubator and the implementation of the University of Notre Dame’s 1st Source Commercialization Award which recognizes research that makes it to the marketplace.