16 Tech Community Investment Fund

A community-focused fund launched in 2019 to ensure access, opportunity and revitalization of neighborhoods in and around the 16 Tech Innovation District in Indianapolis.

Geographic Scope: Near West, Near Northwest and surrounding neighborhoods of Indianapolis

Focus Areas:

• Workforce training
• Business growth and entrepreneurship
• Education
• Community organizing
• Infrastructure and beautification
• STEM education
• Arts and culture preservation

Funding Details:

• Initial Seeding: $3 million in public funding from City of Indianapolis
• Annual Funding: Approximately $350,000 anticipated annually following inaugural year
• Sustaining Mechanism: $0.20-per-square-foot assessment paid by tenants in 16 Tech Innovation District
• Philanthropic Support: 16 Tech Community Corporation also seeks philanthropic funding from individuals and organizations

Governance:

• Guided by an advisory committee of residents, city officials and organizational representatives
• Assistance provided by Central Indiana Community Foundation (CICF)
• Neighborhood residents endorse projects as having meaningful community impacts

Eligible Applicants:

• Education and workforce development organizations
• Community development organizations
• Neighborhood associations
• Arts organizations

Sample Grants Awarded (2020):

• Marian University: $72,500
• Stemnasium Learning Labs: $43,500
• Believers United in Local Development (BUILD): $42,000
• Elevate Indianapolis: $37,000
• Christel House: $33,000
• Christamore House: $70,000
• Flanner House: $57,000
• Near Northwest Governance Committee: $45,000 (community dev) + $13,500 (neighborhood association)
• Indy Convergence: $20,000
• Kurt Vonnegut Memorial Library: $15,000

Contact Information:

• 16 Tech Community Corporation
• Website: 16tech.com/grant-awards
• President and CEO: Bob Coy

Background:
16 Tech is a 50-acre development along Indiana Avenue with office, creative, residential, and retail spaces, green space and trails to foster innovation in tech, life sciences and advanced manufacturing.

Application Process

1. Application Submission: Submit grant applications during designated annual rounds
   • First round: Late 2019/Early 2020
   • Second round: Mid-2020
   • Subsequent rounds: Ongoing annually
2. Community Review: Neighborhood residents review and endorse projects as having meaningful community impacts before funding decisions are made
3. Advisory Committee Review: The 16 Tech Investment Fund Advisory Committee evaluates applications
4. Required Materials: Specific application materials not detailed in available documentation

Application History:

• Over 60 grant applications were submitted in late 2019 and early 2020 for first two rounds
• First round (May 2020): $500,000 awarded to 15 projects
• Second round (later in 2020): Additional $500,000 awarded

For detailed application requirements and submission procedures, visit 16tech.com/grant-awards