INDIANAPOLIS – The Indiana Economic Development Corporation has named Stephen M. Hourigan executive director of the 21st Century Research and Technology Fund and entrepreneurship.
Hourigan, who assumed responsibilities Monday, will focus on encouraging creation of high-growth companies and small businesses in Indiana. He replaces Bruce Kidd who resigned in December.
“Steve’s background both in finance and as an entrepreneur will be invaluable to Indiana companies taking the next steps in product advancement,” said Mitch Roob, Indiana Secretary of Commerce and chief executive of the IEDC. “I am confident his experience and dedicated efforts will help our state move forward as a leader in innovation.”
The state’s entrepreneurial initiative helps firms make the transitional leap from general research and development to product development while creating high-wage, high-tech jobs and diversifying the state’s economy. Hourigan will work closely with entrepreneurs, universities, venture capitalists and small business development centers to produce more high-growth companies in Indiana and provide them funding opportunities through grants and awards.
Most recently a community investor and chief strategic officer for debt mediation firm, Preferred Financial Solutions, Hourigan has experience assisting executives and entrepreneurs with strategy, risk management, capital formation and other key issues growing companies encounter.
“As executive director of the 21st Century Fund and entrepreneurship, I look forward to providing support to Indiana companies as they meet the challenges of commerce during difficult global economic conditions,” said Hourigan. “I welcome the opportunity to help innovative and promising business candidates succeed in Indiana.”
In addition to his role at Preferred Financial Solutions, Hourigan worked as a business development consultant for Chart Logic, a Utah-based electronic health records company. Previously, he was chief strategic officer for Interthinkx, Inc., a company specializing in automated fraud protection for the mortgage industry. He also served as co-founder and senior executive for a technology solution company where he executed a successful sale of the company. Earlier in his career Hourigan held senior trading and finance positions in fixed income for four New York City investment firms including First Boston Corporation, Chemical Securities, UBS Securities and AMT Capital.
Hourigan is co-author of a patent in automated loan risk assessment and holds a Bachelor of Science in political science and economics from Bowdoin College in Brunswick, Maine. He and his wife, Priscilla reside in Zionsville with their six children.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
Media Contact:
Blair West
317.232.8873
BWest@iedc.in.gov
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