After two years leading Velocity Indiana, Tony Schy has resigned as managing director to focus on “a new venture of his own,” according to a message the Velocity Board of Directors released this morning.
The board states there will be no interruption of services as a result of Schy’s resignation, indicating Velocity staff members will manage daily operations. Schy will continue working with accelerator companies alongside fellow mentors.
Insider Louisville has been unable to reach Schy about his decision and plans for the future.
The headline accompanying today’s announcement describes this transition as “an opportunity to reimagine Velocity Indiana.”
The board further explains: “Neither the initial funding nor the leadership was intended to be perpetual, and we seek input on how Velocity can be re-invented as an asset for entrepreneurs and future entrepreneurs in the region; or is there now enough critical mass of activity that it is fine for it to pass the reins of organizing leadership within the entrepreneurship ecosystem to another group?”
Those interested in weighing in should send an email to [email protected].
The board hopes to have a plan for the future in place by Velocity’s Spring 2015 Accelerator Demo Day on June 3.
During Schy’s tenure, the board writes, “Velocity Indiana has embedded itself into the region’s entrepreneurial ecosystem.” Specifically, Velocity has graduated 17 companies from its accelerator, with five additional startups currently enrolled. Of those Velocity alums, 13 of the startups remain in operation, having raised more than $1.2 million in additional capital.
The board also points out that Velocity has grown its co-working space, which touts 70 members, conducted technology workshops for kids, and helped launch Maker Mobile at the IdeaFestival and the Louisville Maker Faire.
IL will have more on Schy’s new venture and the future of Velocity as details become available.