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The program’s sponsors note that recipients are second-stage entrepreneurs and their companies, and are “known for their performance in the marketplace, innovative products, unique processes or philanthropic actions.”

Larry Davis, president, Daman, accepted the award at an August 27 ceremony in Indianapolis. Given by the Edward Lowe Foundation, the Indiana Economic Development Corp., its Small Business Development Centers network and Purdue University, the recognition went to a diverse group of companies that make a significant economic impact as measured in thousands of jobs and millions of dollars of revenue in the state. There were more than 420 nominations for the awards.

The Edward Lowe Foundation’s mission is to “champion the entrepreneurial spirit,” believing that second-stage companies have a significant impact on the state’s economy, although they are often overlooked.

Echoing that sentiment, Indiana Governor Mitch Daniels says, “Large companies creating hundreds of new jobs make headlines, but it’s the hard work and determination of Indiana’s small businesses that continue to drive Indiana’s economic growth. There is no better story to tell than that of a homegrown Hoosier company that continues to grow and create new jobs. We’re committed to creating the best business environment we can so these 50 Companies to Watch … continue to succeed in today’s global economy.”

After receiving a number of requests for his company’s products from outside the country, most notably from Brazil, Davis has doubled his efforts to explore foreign markets. “We’re always looking ahead to expand sales within our state and within the United States, but it makes sense to proactively investigate a number of international markets to lay the groundwork for potential new business,” says Davis.