The Velocities region has the resources startups need
to succeed, grow and thrive
Fuel your passion and your growth— talk to a Velocities staff member today
Velocities EIR Cy Megnin grew up in Bloomington Indiana and has been an entrepreneur, founder and advisor for the past two decades. Companies he has founded include Intel Capital portfolio company PrepFlash and CloudCoreo which garnered investment from Microsoft and ultimately sold to VMware.
Cy is a full-time mentor to entrepreneurs across the region served by Velocities, with offices at both The Mill and the Columbus Chamber. He helps entrepreneurs build their companies, figure out marketing, how to sell, how to interact with customers, and more.
“In the other cities that I’ve lived—Austin, the Bay, and Seattle—there’s a lot more companies that you can invest in than there are people willing to write checks. Here I’ve found it’s the exact opposite. So if a 10 is a perfect slam-dunk investment, I run into a lot of sixes and sevens. And my job is to close that delta between seven and 10.
I meet the entrepreneur wherever they are, whether they need help with their pitch deck, the pitch itself, hooking them up with resources or my network, whatever the case may be.”
The Mill is home to hundreds of members and dozens of companies. Its diverse members include innovators creating startups and small businesses as well as independent freelancers, creatives, and remote workers. Some choose The Mill for its coworking amenities and the great community; others join for specialized entrepreneurial support for accelerating their startups, pitching to investors, and securing capital. The Mill’s programs and events serve members, Bloomington’s thriving startup community, and the public at large.
The Columbus Fish Tank is an entrepreneurial community. It’s where “good ideas swim around.” Attend workshops with like-minded innovators. Work in a professional space where you can be laser-focused on your growing business.
Free “swim passes” are available now- check it out!
Access to Capital
Through our partnership with The Mill, the Chamber and Elevate Ventures, we provide entrepreneurs with access to several sources of capital in our region. Read more about them here.
- Elevate Ventures Funding: Elevate Ventures is a VDO- Venture Development Organization. VDO’s take the money they receive from a company’s exit and use it to invest in new startups- which makes the venture organization self-sustaining. They have several types of funding they offer entrepreneurs at all stages of growth
- Velocities Community Ideation Fund: The CIF enables ideation-stage high-potential companies to move closer to a specific, measurable technology or product development milestone through investments of 5-20,000. See if you qualify using the link above
- The Indiana Technical Assistance Program: is from the Indiana Small Business Development Center statewide network and managed by Ivy Tech’s Gayle & Bill Cook Center for Entrepreneurship in Bloomington. It provides technical assistance for Indiana small businesses that are facing technical hurdles to getting their product or service into the marketplace
- Flywheel Fund: Flywheel Fund invests in software and technology-related startups. They invest $25,000 in startups four times a year and also provide mentorship to their member startups
- IU Ventures: IU Ventures manages the IU Philanthropic Venture Fund for Indiana University. This donated pool of capital invests in startups nationwide that are founded by an alumnus, faculty member, student, or they license IU intellectual property
- IU Angel Network: The IU Angel Network is a collaborative group of IU-affiliated angel investors founded and managed by the IU Ventures team. If you are an IU alumus, you can see if you qualify to pitch using the link above
The Velocities staff is committed to supporting entrepreneurs throughout their entire entrepreneurial journey. We offer advising on pitch decks, pitches, business plans, product-market fit and more. You can contact a Velocities staff member today to set up an appointment or drop by our EIR offices hours for an easy and quick 15 minute session:
Columbus: 11am-12pm every Tuesday at the Columbus Chamber of Commerce
Bloomington: 11am-12pm every Monday at the Dimension Mill
The Elevate Ventures Knowledge Portal provides Indiana entrepreneurs, investors and community stakeholders with original and curated content designed specifically to advance entrepreneurship in Indiana. Registered users have free, unlimited access to the Knowledge Portal. Use the link above to sign up, explore and grow.