The unique partnership will bolster EIG’s momentum in the marketplace and accelerate the integration of emerging technologies, such as Artificial Intelligence (AI), within High Alpha’s portfolio of software companies.
Indianapolis, IN - September 19, 2023 - High Alpha, a global leader in building, launching, and scaling enterprise technology companies, is thrilled to announce a strategic investment in Engineered Innovation Group (EIG), a leader at the forefront of AI application research, development, and deployment. The partnership between High Alpha and EIG is built on a deep and long-standing working relationship between the two organizations and builds on their successful track record together. As a result of the partnership, High Alpha and EIG are positioned to scale more rapidly and benefit from proprietary access to market-leading expertise.
"The High Alpha & EIG partnership represents a significant milestone for both organizations," said Eric Tobias, Partner at High Alpha. "Jake Miller and his team have done a phenomenal job building EIG while providing a strategic advantage to our portfolio Founders as they scale their businesses. Together, we’ll move even faster, while unlocking new opportunities for ideation and technical innovation."
According to industry reports, the global artificial intelligence market alone is estimated at $150.2 billion in 2023 and is projected to reach a staggering $1,345.2 billion by 2030. Combining EIG's expertise in AI research, development, and deployment, and High Alpha's proven track record in scaling technology companies, this partnership is poised to further accelerate EIG’s already impressive growth and make a profound impact on High Alpha’s portfolio and the industry at large.
"We are excited to deepen our relationship with High Alpha," said Jake Miller, Founder and CEO of EIG. "Our shared values and resources mean this partnership will help us accelerate our growth and also provide an expanded ecosystem of expertise and opportunities for awareness of the important work we are doing."
The partnership between High Alpha and EIG comes at a time when emerging technologies are increasingly recognized as critical for enterprise companies. According to the EY Emerging Tech at Work 2023 survey, 89% of employees believe that adopting emerging technologies is advantageous for their companies. Additionally, Forbes reports that over 85% of employment growth in the last 80 years can be attributed to the technology-driven creation of new positions.
As part of this partnership, Eric Tobias will join the board of Engineered Innovation Group. EIG will join High Alpha’s Studio Portfolio as an independent company led by Jake Miller, EIG’s Founder and CEO. EIG will continue to operate autonomously, working with its robust ecosystem of referral partnerships, with the benefit of additional investment and support from High Alpha.
About High Alpha
High Alpha, based in Indianapolis, is a leading venture studio that conceives, launches, scales, and invests in exceptional enterprise B2B software companies across North America. The High Alpha portfolio of over 70 companies includes leading cloud companies Logik.io, Attentive, SalesLoft, Zylo, The Mom Project, LogicGate, MetaCX, and more. For more information visit highalpha.com or follow on Twitter @highalpha.
Engineered Innovation Group (EIG) is an LGBTQ+ owned innovation agency based in Indianapolis, IN, that designs, builds, and engineers innovative B2B SaaS products for entrepreneurs, enterprises, and educational institutions. The EIG portfolio includes Indiana Economic Development Corporation (IEDC), VMS BioMarketing, InnovateMap, Holder, Peer Supply, and many more. For more information, visit engineeredinnovationgroup.com or follow EIG on LinkedIn https://www.linkedin.com/company/engineeredinnovation/.