3/17 Torchbearer Weekly Policy Update
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- Indiana tech venture capital trends: 2023 vs. 2024
- Trump signs spending bill averting shutdown
- Democrats name new state chair
- Share the Torchbearer Newsletter with Your Network!
- Important Dates
Indiana tech venture capital trends: 2023 vs. 2024
Indiana tech firms saw a notable fluctuation in venture investment activity last year compared to 2023, yet it remains below the 2021 peak.
Why it matters: This trend highlights the ongoing challenges tech firms face in securing funding amidst a recovering market.
- The report suggests that the tech sector hasn't fully rebounded from the 2022 downturn.
By the numbers:
- 2024 saw $549 million in venture investments over 139 deals, up from $278 million in 2023 across 115 deals.
- In contrast, 2021 boasted a record $1.4 billion over 159 deals.
What's next: Companies like Indianapolis-based Remodel Health, which secured $100 million, demonstrate the potential for substantial investments when aligned with strategic partners.
- The report also outlines venture activity in life sciences, agbiosciences, and advanced manufacturing, underscoring diverse opportunities within Indiana's tech ecosystem.
The bottom line: While the tech sector in Indiana is seeing a gradual increase in venture capital, the path to matching the 2021 peak remains a significant challenge. (IBJ)
Trump signs spending bill averting shutdown
President Trump signed the Republican-crafted spending bill to avert a government shutdown, the White House announced Saturday.
Why it matters: The bill funds the government through September 30, marking the end of Trump's second term's first funding battle and sparking internal conflict among Democrats.
By the numbers:
- The Senate passed the bill 54-46, with two Democrats joining 52 Republicans.
- The crucial vote to advance the bill was 62-38, requiring a 60-vote majority.
What they’re saying: Trump praised Minority Leader Chuck Schumer for supporting the bill, despite Democratic divisions.
- "I appreciate Sen. Schumer and I think he did the right thing," Trump remarked.
The bottom line: Schumer's support provided political cover for Democratic centrists, but has caused fractures within the party, challenging their strategy against Trump's agenda. (The Hill)
Democrats name new state chair
Breaking: Former State Senator Karen Tallian of Ogden Dunes was elected by the State Central Committee this morning as the next Chair of the Indiana Democratic Party.
By the numbers: Tallian beat former statewide candidate Destiny Wells by a vote of 18-14.
Dig deeper: Throughout her time in the Senate Tallian fought for organized labor and traditional public schools. She also is a lead supporter of marijuana legalization.
What she’s saying: She says going forward, her job will be to unite the Democratic Party, raise money, hold Republicans accountable, and prepare for the 2026 and 2028 elections.
The backstory: Tallian served in the State Senate for District 4, and represented portions of Porter, La Porte, and Lake counties from December 2005 through November 2021. During her time in the Senate, she served as the Democratic Caucus Chair between 2016 and 2020.
Plus: Also elected today were Alex Nyirendah, Vice Chair; Erin Retif, Secretary; and Michael Griffin, Treasurer. (Indy Politics)
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Important Dates:
Thursday, April 10th - House and Senate Committee Report Deadline
Monday, April 14th - House and Senate Second Reading Deadline
Tuesday, April 15th - House and Senate Third Reading Deadline
April 16th - April 24th - Conference Committees
Thursday, April 24th - Anticipated Sine Die
Tuesday, April 29th - Sine Die