1776, a national network of startup incubators, flexible workspaces and programming for entrepreneurs, announced today that Boomerang Ventures, led by local investor and entrepreneur Oscar Moralez, will locate its headquarters within HqO, 16 Tech’s innovation hub.

“We want to ensure our team is located alongside a community of entrepreneurs making strides in the life science space, and what better space to do that than the epicenter for innovation in Indianapolis” said Boomerang’s Moralez.

Boomerang Ventures is a venture fund and venture studio that is focused on funding and launching new healthcare and life sciences companies with a focus on medtech and digital health innovations. Boomerang Ventures will deploy capital into promising healthcare and life science companies, while Boomerang Venture Studio will serve as a hands-on full service program to help grow and de-risk new ideas and technologies.

Boomerang will locate in 1776’s shared office space in HqO, positioned in the heart of the 50-acre live-work-innovate district. HqO boasts two additional activity centers, a makerspace and artisan marketplace.

“We are thrilled to welcome Boomerang Ventures into our network at 1776, and excited to call them a founding member of our space in Indianapolis,” said Jennifer Maher, CEO of 1776. “As we look at curating a community focused on innovation, it is critical to have both entrepreneurs and growth firms like Boomerang in close proximity.  By anchoring Boomerang Ventures alongside our shared lab space we offer in partnership with Indiana Biosciences Research Institute, we are bound to see innovative ideas being brought to market at a significantly faster rate.”

“Boomerang joins an expanding innovation community at 16 Tech that connects the life sciences, advanced manufacturing and technology,” said Bob Coy, CEO of the 16 Tech Community Corporation. “There is power in positioning startups alongside capital investors – and we cannot wait to see what big ideas come to fruition.”

Boomerang Ventures will open its office in tandem with the opening of HqO and 1776 Indy, slated for early 2021.