October 28, 2004  |  Imaginestics named a 2004 Indiana Growth 100 Awardee

Purdue Research Park, West Lafayette, Indiana, U.S.A - The Johnson Center for Entrepreneurship & Innovation, a division of Indiana University's Kelley School of Business, recognized Indiana's leading high potential, high growth companies at its 11th annual Growth 100 Dinner and Awards Banquet Wednesday, October 27 at the Indiana Roof Ballroom in Indianapolis. Imaginestics, LLC of West Lafayette, IN, USA was among the winners, who received the Growth 100 Award.

Imaginestics was founded in December of 2002 and currently employs 16 persons from this community. Nainesh Rathod, President/CEO of Imaginestics states that he is proud to be recognized as an Indiana Growth 100 Company. "Besides the personal satisfaction, Imaginestics is forging key customer relationships with major Indiana manufacturers to enable them to gain a competitive advantage through the use of Imaginestics' products, which are helping them maintain and create jobs in Indiana. In addition, Imaginestics plans to launch two more products in the next six months, which will help add 15 more high tech jobs in the Lafayette community."

The Growth 100 award honors Indiana's rapid growth, high potential entrepreneurial companies. Nominees for the award must be privately held Indiana businesses and have at least $500,000 in annual sales or have raised a significant amount of funding. This year, 88 highly qualified companies were carefully selected from across the state. Growth 100 companies are identified through an analysis process that is based upon High Performance Organization research conducted by The Johnson Center.

Sponsors who generously contributed to the event included: The Indiana Venture Center, Katz, Sapper and Miller, and the accounting firm Ernst & Young.

"This year's 2004 Growth 100 awardees have a combined 2003 sales total of more than $1.17 billion, with an incredible growth rate averaging 58 percent," said Tom Hustad, interim Director of the Johnson Center for Entrepreneurship and Innovation at IU's Kelley School of Business. "To be able to build this type of momentum in such a challenging economic climate is quite a feat."

"These companies are a vital, central contributor to the state. Combined, they employ more than 8,600 Indiana residents, and have increased their employment numbers by an average of 33% in the last three years. With the state experiencing an overwhelming loss of jobs through an equivalent period, this is quite remarkable." Hustad adds, "We recognize these companies because they represent the entrepreneurial spirit of Indiana business, working to enlarge the state's role in the national and global corporate arena."

Individuals who wish to nominate their own or another's company for consideration for next year's Growth 100 award should contact The Johnson Center at 812.855.4248. For more information regarding the Growth 100 program and The Johnson Center for Entrepreneurship & Innovation, visit The Johnson Center's web site at www.kelley.indiana.edu/jcei.