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Middle Bit: Young Entrepreneur Convention opens registration

Young Entrepreneur Convention

March 30, 2018

The third Young Entrepreneur Convention will open registration to its $50,000 pitch competition on Monday, April 2, according to a news release.

The Young Entrepreneur Convention is April 20 and 21 at the Marriott in downtown Des Moines. It features a two-track format, focusing on startups/technology and branding/marketing.

The pitch competition—which is limited to the first 30 participants who sign up—will be all day on April 21. To date, the Young Entrepreneur Convention has awarded nearly $150,000 in three years.

For tickets, click here.

Kansas City mayor to startups: Be inclusive when hiring

In his “State of the City” address Tuesday, the Mayor of Kansas City said its startup community should better reflect the diverse talent working within the city, according to a story Wednesday on StartlandNews.com.

According to the story, inclusivity was a key theme to Mayor Sly James speech and that retaining the best local talent is a responsibility shared by both city officials and startup leaders.

`”Younger entrepreneurs are bringing talent and expertise,” James said. “But we want young people coming in, not going out of our city.”

What else happened…

Denver

Rural Colorado is about to score a major broadband win – The Denver Post

A marijuana-focused coworking space – The Denver Post

Iowa

West Des Moines center focuses on STEM tutoring for girls – The Des Moines Register

The top six startups in Des Moines – Tech Tribune

Minnesota

Women executives discuss gender parity in the C-suite – TCBmag.com

Middle Bit: Young Entrepreneur Convention opens registration | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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