The 16 Tech Community Investment Fund was established during the creation of the 16 Tech Community Corporation as the nonprofit manager of the 16 Tech Innovation District. The 16 Tech Community Investment Fund is the organization’s primary initiative to deliver on its commitment to ensure access, opportunity and revitalization of neighborhoods near the 16 Tech Innovation District.
To ensure alignment with neighborhood priorities, the 16 Tech Community Investment Fund is guided by an advisory committee made up of neighborhood leaders, residents and supporting organizations. The inaugural committee was appointed after a 6-month process in 2018 that included nominations from neighborhood representatives, elected officials and other community stakeholders.
In 2018, 16 Tech Community Corporation also partnered with the Central Indiana Community Foundation (CICF) to help develop the grantmaking process and guidelines. As Indianapolis’ community foundation, CICF’s mission to “mobilize people, ideas and investments to make this a community where all individuals have equitable opportunity to reach their full potential—no matter place, race or identity,” aligns closely with the mission and objectives of 16 Tech.
16 Tech Community Corporation, CICF and the volunteer advisory committee met over 12 months to develop the fund guidelines and grantmaking process, which were endorsed by neighborhood leaders and approved by the 16 Tech Board of Directors and the City of Indianapolis.
Going forward the advisory committee will be responsible for reviewing grant proposals and making funding recommendations to the 16 Tech Board of Directors.
Funding Sources: The 16 Tech Community Investment Fund is seeded with $3 million in funding from the City of Indianapolis and will be sustained through a $0.20-per-square-foot assessment on space occupied by 16 Tech tenants.