OrthoWorx Funds First Phase Regional Entrepreneurship Opportunity

WARSAW, IND., APRIL 19, 2012 – OrthoWorx, a community‐based initiative located in Warsaw, Indiana, has provided matching funds of $12,500 to enable Kosciusko County to participate in the first phase of the Regional Entrepreneurship Action Plan (REAP), a three‐year initiative intended to generate economic activity across the Northern Indiana. The REAP initiative will be managed by Elevate Ventures, a venture development organization that provides support to emerging or existing high‐ potential businesses. The OrthoWorx contribution is matched by the Corporate Partnership for Economic Growth (CPEG), a coalition of business leaders from throughout Northern Indiana dedicated to ensuring long‐term economic growth in the region.

“We applaud Elevate Ventures’ efforts to bring a broader array of educational programs and other resources to the table for entrepreneurs both in Kosciusko County and throughout the region,” said David Floyd, OrthoWorx Chief Executive Officer. “We are pleased to partner with the Corporate Partnership for Economic Growth (CPEG) and the other committed donors in Kosciusko County to capture this regional opportunity.”

“With the tremendous industry base in Kosciusko County, it was important for Northern Indiana to have the Warsaw region involved,” said Shawn Peterson, CEO of CPEG. “We appreciate OrthoWorx’s leadership in entrepreneurship and innovation and its commitment to growing our local businesses.”

During this first phase, Elevate Ventures has hired two experienced entrepreneurs to identify high- growth companies in Northern Indiana and assist them in establishing or growing their innovative businesses. To bring additional resources to the region from national philanthropic sources, and the State of Indiana, the region must demonstrate a need and a commitment to entrepreneurship and supporting these ventures.

“We believe that Elevate Ventures has the potential to make the entrepreneurial environment in Kosciusko County even richer by providing greater structure and resources than have been available before,” said Floyd. “In providing these initial funds, the Warsaw region is able to participate in the next phase of this initiative.”
Terry Schlotterback, an orthopedic industry veteran, and Mark Dobson, Warsaw/Kosciusko County Chamber of Commerce President, are serving on the Elevate Ventures regional advisory committee for North Central Indiana. More information about Elevate Ventures and their work in the region can be found at www.elevate-ventures.com.

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About OrthoWorx –

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx (www.orthoworxindiana.com) is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as The Orthopedic Capital of the World.

About CPEG –

The Corporate Partnership for Economic Growth (CPEG) was formalized in 2011 by regional industry to encourage collaboration and high-impact initiatives to promote the long-term growth and prosperity of Northern Indiana. CPEG provides the resources to successfully spur broad regional and supra-regional initiatives and face the challenges and opportunities of competing in a global economy. For more information or to join CPEG, visit www.cpeg.org.