Indiana's 2026 Focus is about Taking Over, Not Starting Over

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At the end of every year we look back at the year that was and ahead to what’s coming. This year, Indiana’s entrepreneurial ecosystem seems to be rethinking the paths available to entrepreneurs.

For years, "startups" have been the golden child. The entire infrastructure has been built around helping people create businesses from scratch: new ideas, new technologies, new everything. Startups are exciting, innovative, and disruptive. 

But here's what Indiana has figured out: the state doesn't just need more new businesses. It needs to save the ones that already exist.

The Baby Boomer generation is heading toward retirement, leaving behind thousands of businesses without anyone to take them over. These aren't businesses building the next AI tool. These are the hardware stores that have been on Main Street for 30 years. When these businesses close because there's no successor, communities lose jobs, expertise, and economic stability.

So Indiana is shifting its focus to Entrepreneurship Through Acquisition (ETA). I've seen this firsthand through my work with the Indiana Small Business Development Center and the IEDC. The priority is clear, and in 2026, that's where the energy is going. Not at the expense of startups, but alongside them.

Entrepreneurship Through Acquisition is exactly what it sounds like: instead of starting a business from scratch, you buy an existing one. You step into something that already has customers, revenue, employees, and a place in the community. You're not building from zero, you're inheriting the foundation and adding your own floors.

The Talent Equation

What if someone already knows what they want? What if they've worked in logistics for ten years and want to own a business in that space, or they grew up working in their family's restaurant and want to run their own? These aren't people who need to start from scratch. They need to find an established business they can step into, one that matches their skills and interests.

If Indiana can become a place where those matches happen seamlessly, that's a competitive advantage. It's not just about keeping homegrown talent. It's about attracting people who want ownership and autonomy but don't want to spend five years in the startup wilderness hoping something works.

Indiana's universities have spent the last decade ramping up entrepreneurship programs. Purdue, IU, Notre Dame, Butler, Ball State have all invested in fostering entrepreneurial thinking through pitch competitions, startup incubators, and innovation challenges. But what happens to the student who goes through those programs, gets fired up about entrepreneurship, but realizes they don't want to spend five years building something from scratch? Or the MBA graduate who has operational expertise but no interest in the chaos of early-stage startups?

ETA creates a path for them. Butler University is already adding an ETA curriculum and hosting a  conference that brings together state government, universities, buyers, sellers, and students to put ETA in the spotlight. Universities are now preparing students not just to launch startups, but to step into ownership of established businesses. 

The Two-Sided Marketplace Problem

ETA is complicated because selling a business is an awkward dance. It's not like selling a house where you can put up a sign and list the specs. Business owners need to keep their plans quiet. If employees find out too early, they get nervous and start looking elsewhere. If competitors find out, they circle. If customers find out, they might bail before the transition even happens.

Indiana's focus on ETA means building systems to guide people through that process. This has been a priority for Gov. Mike Braun through initiatives like the creation of the Office of Entrepreneurship and Innovation. Within this office, led by Brian Schutt, there's a goal of building the infrastructure to support ETA. 

That means advisors who understand business valuation and transitions, legal and financial professionals who can structure deals that work for both parties, and programs that can help buyers and sellers avoid mistakes.

The Capital Reality

Here's the other piece: ETA requires capital upfront. Startups can be bootstrapped. You can build something nights and weekends, scrape by on revenue, raise small amounts from friends and family, and grow slowly. It's hard, but it's possible to start with very little.

Buying a business? You need real money. Even a small Main Street business might sell for $500,000 or more, and a mid-sized operation could be several million. Yes, there are financing options (SBA loans, seller financing, investor backing), but you're still looking at a significant capital requirement to get in the door.

Indiana's work here has to include making sure capital flows to the right buyers. That might mean state-backed loan programs or connecting buyers with investors who understand the value of stable, profitable businesses. Whatever it looks like, capital can't be the barrier that keeps good buyers from stepping into businesses that need them.

How This Fits Into the Larger Ecosystem

Right now, if you're interested in ETA, you're mostly on your own. Business brokers, SBA loan programs, and attorneys who handle transactions exist, but it's fragmented and most people don't know where to start.

Indiana's 2026 focus means that's changing. The state's entrepreneurial infrastructure (coworking spaces, accelerators, funding networks, mentorship programs) was built for startups. But ETA isn't replacing that infrastructure, it's expanding it.

Accelerators coaching founders on go-to-market strategy can help buyers evaluate acquisition targets. gener8tor's gBETA Indiana Main Street NEXT 2026, specifically for businesses preparing to sell, signals the accelerator model is evolving beyond early-stage startups. Investors writing checks for seed rounds can deploy capital into established businesses with proven revenue. Mentors guiding first-time founders can help first-time buyers navigate due diligence.

Economic development groups, incubators, and chambers of commerce are building ETA programming around buyer education, protected deal flow, and specialized mentorship. The goal is for Indiana's ecosystem to operate the way it has with startups: when one organization finds something that works, others adopt it.

Where this Goes from Here

I think the vision is compelling. The idea that startups and ETA can reinforce each other makes sense. Founders get clearer exit paths, and buyers gain access to businesses that are ready for new ownership. If built well, that flywheel could be powerful.

I do have real doubts, though. This only works if there’s quality on both sides. Sellers need realistic valuations and businesses worth buying. Buyers need capital, operating experience, and the ability to actually run what they acquire.

The capital piece is where I’m most cautious. Targeting college talent has been a winning formula for startups, but ETA is different. New grads simply don’t have the money or experience yet. Exposing students to ETA early is valuable, but expecting recent graduates to buy and operate established businesses feels optimistic. Mid-career professionals with industry experience and savings are a much more natural fit. The real question is whether Indiana can attract and retain enough of them.

I’m also wary of ETA being framed too heavily as an investment vehicle. If the message becomes “buy a business and collect cash flow,” it attracts buyers looking for passive income rather than active ownership. The best outcomes happen when people buy businesses they deeply understand and are prepared to operate day to day.

That said, Indiana is building multiple entrepreneurial paths forward. By the end of 2026, we’ll know whether this New Year’s resolution truly stuck.

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‍Sebastian Penix is the Entrepreneur Ecosystem Navigator for the Central Indiana SBDC, based at Butler University’s Lacy School of Business. He is also the founder of Heartland Valley, a platform spotlighting startups and innovation across the Midwest. His work focuses on building connection, visibility, and momentum within the region’s entrepreneurial ecosystem.