BLOOMINGTON — The Mill, Bloomington’s nonprofit center for entrepreneurship, announced today that it has hired Eric Steele and Samantha Ginther – doubling down on their commitment to increase startup IQ and density in 2024.
Eric joins the team as the new Managing Partner of Flywheel Fund. Flywheel Fund started in 2020 and has scaled into the Midwest’s third most active early-stage investor. It has made over 50 investments, impacting companies throughout Indiana, especially in Bloomington. A third of the capital stays here in Bloomington.
“I started Flywheel Fund in 2020 and, with the help of Brian Hatton, our former Venture Partner, really saw it scale and grow into what it is today,” said Pat East, Executive Director of The Mill. “While I’m proud of our work when I look at the kind of growth we want and the potential on the horizon, we must have someone managing it full-time. I’m excited about Eric as Managing Partner of Flywheel Fund because of his extensive startup background.”
Eric has a long history of entrepreneurship, starting right out of college when he founded a wireless technology company. After exiting through a sale to a publicly traded company, he started a digital health company based in New York. He has mentored and invested in early-stage founders for seven years as an EIR for Elevate Ventures. His statewide network touches every significant organization in the Indiana startup ecosystem.
“I’m excited to continue growing the fund,” Eric said. “We’re poised and ready to continue providing early stage Indiana companies with the capital that is critical for growth and sustainability.”
Samantha Ginther comes to The Mill with extensive experience in early-stage investing, having worked for IU Ventures and High Alpha. She’ll lead the way as our Startup Coach, offering support and mentorship to all Mill and Flywheel startups.
“Samantha bridges the gap, fitting the profile of our companies in the pre-seed and seed stages,” said Pat East. “She also supports our work with High Alpha, preparing founders for Series A—where we need more assistance. Her thorough and conscientious approach, diving deep with numerous questions to understand the underlying reasons, is something I admire.”
Based in Bloomington, Samantha has been involved with The Mill since its inception. She brings a diverse perspective not commonly seen among The Mill founders, which will help attract individuals who may not typically feel included.
Samantha is most excited to help Bloomington founders build breakout companies. “I’m very excited to be more engaged with the Bloomington startup community,” she said. “I hope I’ll make a difference in helping founders navigate issues while connecting them to resources to help them succeed!”
As The Mill welcomes Eric and Samanth, it welcomes the next chapter of launching and accelerating startups.
To learn more about The Mill and Flywheel Fund, visit www.dimensionmill.org/ and flywheelfund.vc/.
