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Middle Bit: Fifteen student startups set to present at CYstarters Finale Event

CYstarters Iowa State University

July 27, 2018

Fifteen student-led startup companies will pitch their businesses at the CYstarters Finale Event, next Wednesday at Iowa State University.

This is the third cohort for the CYstarters program, a ten-week summer accelerator for Iowa State students and recent graduates.

Each of the startups participating in the 10-week summer accelerator will be presenting to celebrate completing the program.

Presentations will begin at 10 a.m. Friday at Research Park (1805 Collaboration Place) in Ames. Iowa State faculty, students and the public are all welcomed to attend. RSVP below for more details.

What else is happening…

Indiana

Indianapolis-based tech apprenticeship academy Kenzie Academy announced that it has raised $4.2 million in seed funding. The funding was led by existing investor, edtech VC firm ReThink Ventures. Butler University, also located in Indianapolis, joined the round. –VentureBeat

Iowa

In 2016 alone, the personal medical records of more than 25 million patients were compromised. In February of this year, MedBlox co-founders Todd R. Chamberlain and Somchai Rice began working on ways to protect that information and prevent it from being leaked to the world. –Silicon Prairie News

Nebraska

Physicians need trustworthy service providers in every aspect of their lives. But they’re often too busy to dedicate their limited free time to sorting through referrals and internet searches. That’s why Physician Focused created a platform designed to save physicians time and money. –Silicon Prairie News

Tags: accelerator ames cystarters Iowa State University startup

Middle Bit: Fifteen student startups set to present at CYstarters Finale Event | 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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