AIT Bioscience selected as a 2013 Indiana Companies to Watch Award Winner
INDIANAPOLIS, Ind. (July 17, 2013) – AIT Bioscience has been recognized as one of the 2013 Indiana Companies to Watch, an awards program presented by the Indiana Economic Development Corporation, its Small Business Development Center and the Edward Lowe Foundation.
Thirty-three companies from Indiana will be honored as outstanding second-stage companies during the fifth annual Indiana Companies to Watch awards program, held on August 22 in Indianapolis.
Companies to Watch is an awards program that celebrates Indiana’s privately-held second-stage companies, those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.
Companies honored range in industries and have headquarters based in 14 counties throughout the state. Among the 33 honored companies in 2013 is AIT Bioscience.
About AIT Bioscience
AIT Bioscience, LLC, headquartered in Indianapolis, Ind., is a bioanalytical contract research organization supporting pre-clinical and phase I-III clinical trials. AIT Bioscience provides robust analytical methods, painless sample logistics, and rapid sample analyses that support programs through to the investigational new drug and new drug applications. AIT Bioscience has created a new standard for quantitative bioanalytical analysis and drug development in support of small biotech and large pharmaceutical companies. Learn more about AIT Bioscience at www.AITBioscience.com
About Indiana Companies to Watch
Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.
This year the program attracted 308 nominees and applicants. From that pool, 91 finalists were selected, and 33 companies emerged to become the 2013 class of Indiana Companies to Watch.
This awards program is unique because of its focus on second-stage companies. The impact of these companies on Indiana’s economy is tangible. In 2010 Indiana’s resident companies accounted for nearly 34,000 second-stage establishments according to YourEconomy.org, an online resource of the Edward Lowe Foundation. Those second-stage companies represented an average of more than 866,000 workers that year.
Looking at the contributions of these companies from a different perspective, in 2010 only 8.6 percent of Indiana’s resident establishments were in the second-stage category, however, they accounted for 37 percent of jobs in the state.
This program would not be possible without the generous support of Barnes & Thornburg LLP as well as Katz, Sapper & Miller, KeyBank, and Purdue University. The program is also supported by Ivy Tech Corporate College and media sponsors BizVoice magazine, Inside Indiana Business and Northwest Indiana Business Quarterly.
About the program presenters:
The state of Indiana’s lead economic development agency, the Indiana Economic Development Corporation oversees Indiana’s statewide business attraction and development efforts, coordinates state programs, and incentives for companies looking to grow in Indiana, and provides assistance and funding to Indiana entrepreneurs and high-tech start-ups.
The Indiana Small Business Development Center Network (ISBDC) creates a positive and measurable impact on the formation, growth, and sustainability of Indiana’s small businesses by providing entrepreneurs expert guidance and a comprehensive network of resources. Funding comes from government, organizations, and businesses, committed to growing Indiana and local economies. Statewide funders include The Small Business Administration and the Indiana Economic Development Corporation. To learn more about the ISBDC and to become a client visit isbdc.org
The Edward Lowe Foundation inspired the creation of the Companies to Watch program to celebrate second-stage entrepreneurs and their companies. Established in 1985, the Edward Lowe Foundation is a Michigan-based nonprofit organization that supports entrepreneurship through recognition, education and research with a focus on second-stage companies—those that have moved beyond the startup phase and seek significant, steady growth. The foundation also encourages economic gardening, an entrepreneur-centered strategy providing balance to the traditional approach of business recruitment.
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