IT'S YOUR BUSINESS | A LEGACY OF INNOVATION: REFLECTING ON 2024 + ADVANCING THE MILL'S MISSION

After seven years of sprinting to build Indiana’s best tech entrepreneurship center, I’ve decided to step down and take some time to recharge and reflect. Through April 1, I’ll
work closely with John Fernandez as Interim Executive Director to ensure a smooth transition at The Mill. We’ve built a special organization, and he’s well-equipped to
continue the momentum we’ve created. With his deep experience in innovation and economic development, I have complete confidence as The Mill enters its next phase.

That next phase will be built upon the foundation he, I, and countless others helped to build over the last 7 years and specifically, what we’ve accomplished in the last 12 months. Since this is my first article of 2025 but my last article at The Mill, I’d like to highlight just five of those accomplishments.

Startup Success
Several startups at The Mill achieved remarkable milestones this year, showcasing the continued growth of our entrepreneurial ecosystem. In the past, startups often relocated to Indianapolis to secure funding and growth opportunities. Today, that trend has shifted—founders are finding success right here in Bloomington, with access to seed funding, pre-accelerators, and accelerators. These highlights showcase just a few of the many accomplishments of our founders this year:

• EcoGrains: A recent Startup Summer graduate, the founders of EcoGrains—Janet Namutebi, Philip Rugamba, and Jasmine Harris—were accepted into gBETA’s AgBioScience Fall 2024 cohort. EcoGrains is commercializing biotechnology from Sandia National Labs that transforms Distiller’s Grains with Solubles (DDGS), a byproduct of ethanol production, into isobutanol, a sustainable fuel for motorsports and aviation.
• Human Singularity: A graduate of our Mill Cohorts program, Fer Swanston secured a spot in gBETA’s 5G cohort and was also accepted into the GrowthX Revenue Accelerator, which helps B2B startups improve their sales performance and scale effectively.
• rScan: A previous Startup Summer participant, Crossroads winner, and Flywheel Fund portfolio company, Rod Baradaran received $1.2 million in state incentives to expand their operations and create new jobs in Indiana. They also joined
gBETA’s Industry 4.0 cohort, positioning themselves for growth in advanced manufacturing and technology.
• Traduality: Accepted into the Curql Accelerate program, a fintech accelerator that helps startups integrate with credit unions, Diego Achio secured a $100,000 investment from Curql to support their growth and industry expansion. Traduality came to The Mill via Bloomington Remote.

Additionally, Flywheel Fund portfolio companies secured an impressive $12.2 million in
follow-on funding last year, showcasing investor confidence and the strong potential of
our startups. Some notable achievements include:

• Modicus Prime raised $2 million, led by Silverton Partners
• GeoH raised $3 million, led by Boomerang Ventures
• FloVision raised $1.8 million, led by SOSV and Serra Ventures
• SecondSight raised $1.2 million through a syndicate of investors
• Ziptility raised $1.1 million, led by Burnt Island Ventures
• Habits raised $1.1 million, led by Atlanta Ventures
• Wicked Technologies raised $2 million through a syndicate of investors

These successes reinforce The Mill as a prime destination for innovation and entrepreneurship, creating economic impact and making waves across industries nationwide.

Bloomington Remote
Bloomington Remote recruits remote workers who choose to live in Bloomington but work remotely elsewhere. The program contributes to economic growth by bringing in
skilled professionals attracted to Bloomington for its quality of life, amenities, and professional opportunities. Since its launch in 2021, Bloomington Remote has successfully recruited 84 remote workers across 76 households, bringing a total of 163 individuals to Bloomington from 26 states, the District of Columbia, and two countries.

Last year, the program welcomed 25 new households, 27 members, and 59 individuals to the community in 2024 alone. With an average household income of $155,000—three
times Bloomington’s average—the program generates an estimated annual economic output of $7 million in direct and indirect consumer spending, according to the Public
Policy Institute at Indiana University.

Innovation Week
Innovation Week at The Mill, held from November 17-23, was a resounding success. I-Week is our annual celebration of events around technology and entrepreneurship, designed to showcase our community and get folks excited about our ecosystem. With over 850 attendees participating in 35 events across seven venues, the energy and enthusiasm were palpable throughout the week. Bloomington ranked as the top community in Indiana and third nationwide for the number of events hosted during Global Entrepreneurship Week.

Key highlights included:
• Indiana Collegiate Founders Summit: Brought together collegiate entrepreneurs
for networking and guidance from industry leaders.
• Crossroads Competitions: Multiple pitch events provided a platform for founders to showcase their ventures.
• Startups Making a Difference Panel: Highlighted socially impactful entrepreneurship stories and provided valuable insights.
• Partner Events: Expanded Innovation Week’s reach through collaborations with businesses and organizations like IU and Ivy Tech.

Lilly Endowment’s College and Community Collaboration (CCC) Grant
In November, through its initiative, College and Community Collaboration, Lilly Endowment, Inc. awarded a $16 million grant to IU Foundation. With the City of Bloomington and The Mill as key partners, the grant fully funds IU President Whitten’s proposal, “Accelerating the Transformation of Bloomington’s Trades District.”

The grant supports three key initiatives to transform the Trades District into a dynamic innovation hub:
1. Attracting top employers and creating quality jobs
2. Driving area development
3. Enhancing placemaking to foster community and creativity

This funding is a pivotal step in realizing the Trades District’s full potential and positioning Bloomington as a leader in innovation and economic development.

The Forge
The Forge is the newest addition to Bloomington’s Trades District, representing a significant step forward in the city’s innovation ecosystem. This 20,000-square-foot,
state-of-the-art facility provides flexible office spaces designed to meet the evolving needs of growing businesses. The first lease has already been approved, with Folia, a
current tenant of The Mill, “graduating” into The Forge. This transition highlights Bloomington’s commitment to fostering a thriving business community.

Conclusion
The past year has been a period of growth, innovation, and success for The Mill and Bloomington’s entrepreneurial ecosystem. From groundbreaking startup achievements
to securing significant funding and attracting top talent, the impact of our efforts is evident. Conservatively, we’re directly and indirectly responsible for $100 million of grants, investments, and economic impact. As The Mill transitions into its next phase, the foundation we built will continue to drive forward momentum, ensuring that Bloomington remains a thriving hub for innovation and entrepreneurship.

Pat East is the Founding Executive Director of The Mill, a non-profit entrepreneurship center on a mission to build and nurture Bloomington’s startup ecosystem. Its vision is
to become the center of tech entrepreneurship in Indiana.