By now, many of you have seen the stories and video (Inside INdiana Business interview) about Dustin Sapp. The Rose-Hulman Institute of Technology grad and Indiana tech leader for more than 15 years is moving to Colorado (for health reasons) but has also taken on a new role with Indianapolis-based Formstack.
Sapp was honored as the first Indiana Vision 2025 Dynamic Leader of the Year when the Chamber instituted the award in 2015. It was based on his business creation efforts – NoInk Communications, Vontoo and TinderBox (now Octiv) – and his contributions in giving back and helping grow the tech community.
On founding a business: “Starting a company is a lot harder than people make it out to be. You can go to an event and it’s all about the energy and the excitement, but they don’t talk about the difficulty. Especially when you first begin – you’re the boss and the employee and the one making the coffee and the custodian and the accountant. It’s often a very lonely job.”
On priorities and why work should not be No. 1: “When it comes to burnout, a pattern we see is that it’s most often those who are the most career-driven. They pour everything they have into career, and it’s all that exists for them. So a requirement that I have for people is that they have something that’s more important than this business in their lives. For me, it’s straightforward: it’s my God and it’s my family.”
On the tech scene in central Indiana: “Indianapolis has always had the right attitude about the ‘rising tide,’ but now as you list the successes, you have a second level of talent investing back into the ecosystem, starting and joining other companies in earlier stages. We’re seeing a magical moment. Now our biggest gap is in getting a number of $20-$30 million companies, not just one or two. We need that middle tier, not just big successes and early stage start-ups.”
Profound words 18 months ago – and today. Dustin, thanks for everything you have done thus far and will continue to do for your team and our state. We wish you nothing but the best.
Nominations close June 16 for the 2017 Dynamic Leader of the Year award. The winner is selected based on success within their own organization, as well as their efforts to grow the state’s technology and innovation communities. Contact Jesse Brothers at firstname.lastname@example.org for more information.
The Innovation Connector is a full-service business resource incubator focused on emerging tech and innovative companies in East Central Indiana. In January 2017, the group launched the Coding Connector for area students to promote discovery of coding and programming.
Part 2 of the yearlong BizVoice magazine series on technology, innovation and entrepreneurship is in the books. We encourage you to check out the March-April entries, with the focus on Outstanding Talent, the lead driver in the Indiana Chamber’s Indiana Vision 2025 plan.
For the remainder of 2017, we’re proud to have Reid Health on board as the lead series advertiser. Among the upcoming features: meeting the space needs of scale-up organizations, communities investing in their quality of place, financing options for entrepreneurs and more.
The March-April highlights include:
Powerful ‘Force’: The second of a six-part series on Recovery Force examines how both team members and advisors were added to the mix to fill critical roles. Also, learn how the co-founders blend their strengths in moving the organization forward.
It’s not every day someone presents a sheepskin deed signed by a past President of the United States. Linda (Saltzman) McCall sent this image to me of her family’s farm deed, signed by James Monroe. She said she’s pleasantly surprised by the shape it’s in considering it hung in the family’s home, enduring myriad temperature fluctuations through the years.
Saltzman and her family were one of four that received Hoosier Homestead Bicentennial Awards from the Indiana State Department of Agriculture last summer – an honor reserved for those whose families have had a farm in the state for at least 200 years.
The January/February edition of BizVoice kicks off 2017 with a tremendous effort from our communications staff. This edition dives into some of Indiana’s most historically notable businesses and leaders, some of whom you may not have known about. A preview of the 2017 legislative session is also found within its pages.
If it looks like a duck, walks like a duck … it’s likely a duck – as the idiom conveys. However, if it syncs with mobile apps, teaches life lessons and takes the Internet of Things to a whole new level, it might be better described as a groundbreaking, transformational gadget the likes of which the children’s toy industry has never seen.
That was the hope when Don Inmon and Matt MacBeth, two innovators with minds for engineering and a collective desire to navigate the turbulent skies of the tech spectrum, developed pi lab and its flagship product – Edwin the Duck.
Edwin is a rubber duck that includes a Bluetooth speaker, a thermometer that gauges bath water, a night light that works in tandem with apps and much more, allowing children to follow along with interactive stories, play games and enjoy sing-alongs.
Tens of thousands of units have been sold (via online and brick and mortar stores like Amazon, Apple Store, Best Buy, Target and Toys ‘R Us) and are already in the hands of children around the globe.
Prominent speakers will also be on hand Nov. 18 in Indianapolis at the Engage Indiana event to discuss the benefits of effective community engagement and advocacy strategy on the bottom line. Find out more information and register online.
BizVoice talked to both men separately this summer, asking them the same questions on policies critical to Indiana Chamber member companies and the business community at-large. (NOTE: The Indiana Chamber’s Congressional Affairs Committee has endorsed Rep. Todd Young in this race.)
BV: What is your view on the federal tax code … are there areas you feel need attention? If so, what reforms do you see as the most important?
YOUNG: “We need to simplify the tax code. Washington needs to stop picking winners and losers through the tax code. We need to stop the double taxation of overseas income so that hundreds of billions of dollars of U.S. profit can be repatriated and invested in places like Indiana to create jobs and raise wages.
“We need to lower the corporate tax rate; we have the highest rate in the industrialized world – that clearly undermines our competitiveness and has even been causing our major corporations, with all their jobs, to relocate their operations overseas. And we need to lower the individual tax rate so that families and small businesses can participate actively in the economy.”
BAYH: “We need a tax code that is certainly simpler; it costs way too much to comply with it; it’s way too complicated. One of the areas I think we can get some bipartisan agreement on would be in the area of corporate tax reform – to get the tax rate down to make us globally competitive. Currently we have one of the highest corporate tax rates in the world, which leads to a couple of negative consequences. Number one: A lot of businesses that are globally competitive have stranded profits abroad. I think it’s in excess of a trillion dollars. So by making the corporate rate globally competitive, we would allow them to bring those profits home to invest in their U.S. operations.
“Number two: The fact that our tax code is not globally competitive creates an incentive for foreign companies to buy U.S. companies basically as a tax arbitrage (profiting from differences in how income or capital gains are taxed); it also leads to U.S. companies to re-domicile themselves overseas. By getting the tax rate down and making it globally competitive, you do away with that phenomenon.”
EDITOR’S NOTE: BizVoice® has featured technology/innovation stories throughout its 18-year history. Look for these flashbacks each Thursday. Here is a 2014 favorite.
Kent Parker’s story is not unique. He grew up in Indiana (a sixth-generation Hoosier in Gibson County), attended school here (the University of Evansville with a 1983 degree in mechanical engineering) and began his working life (three years with United Technologies Corporation) in Indianapolis. Parker returned (with a home in New Harmony and numerous business and civic involvements) years later after a highly successful career that included key roles at Caribou Coffee in Minneapolis and Ariba (a software and information technology firm) in Sunnyvale, California.
The entrepreneur and investor admits, “I never once considered after I left Indiana in 1985 that I would come back here to try and make a living. It just never crossed my mind.” But Parker is back now.
BizVoice:You mentioned that people are the most important factor for growing successful businesses. Does Indiana have enough people – entrepreneurs, members of the workforce?
Kent Parker: “I think there are. Entrepreneurism is locally driven. It requires an entrepreneurial community; within that community, there are layers of people and their roles. When we started Caribou Coffee, the managers and employees we hired – not classic entrepreneurs, but people with skills who were interested in this new kind of activity, new kind of company and the excitement around that.
“What makes an entrepreneurial venture successful is the ability to attract the people who are motivated to have the kind of career experience that truly is much different than working in a larger company or long-established company. You need this entire ecosystem.”