Funds raised through the event were pooled for equal investment in the startups that event judges approve to receive investment.
A total of $470,000 was invested in nine early stage companies, resulting in each company receiving an investment of more than $50,000.
“The results of the 2018 Best of the Midwest regional meeting in DSM perfectly illustrates the strength of our region’s startup ecosystem,” said Mike Colwell, Executive Director of Entrepreneurial Initiatives at the Greater Des Moines Partnership, in an announcement. “Iowa investors stepped up and made a statement that promising startups can obtain funding here.”
This year’s Best of the Midwest event was the third in an ongoing series for Midwest angel investors and is the first time the event took place in Des Moines. Next year’s Best of the Midwest regional event will take place in Cincinnati, Ohio.