The continued growth of the Flywheel Fund brings growth for tech startups

In September I wrote about The Recipe for a Healthy Startup Ecosystem. Providing early-stage capital to our startups is one of those ingredients. The Mill does this through the Flywheel Fund, which invests in technology startups across Indiana.

What exactly is Flywheel Fund? Flywheel is a member-managed investment fund that provides Hoosier’s emerging tech startups with the capital they need to scale quickly, create jobs and grow our economy. Each year, SEC-qualified members join Flywheel and contribute to a fund pool. Each cohort or “round” of investors lasts until all funds are distributed (usually a year).

The Mill and our partners screen startups for potential investments and distribute due diligence: a report containing founders’ CVs, market analysis, financial forecasts, etc. Our members then meet once a month. The first half of the meeting is the pitch. The founder introduces the company and the investors ask questions about the use of the funds, their go-to-market strategy, their vision of the company and so on.