Two Iowa startups receive funding from IEDA

Four Iowa startups received funding from the IED on Friday, September 21. Photo courtesy of Pexels.

Two Iowa startups—Predictive Health Partners and Whirrx— received funding from the Iowa Economic Development Authority (IEDA) Board last month.  In total, the board awarded $125,000 to the two startups.

Predictive Health Partners

Based in West Des Moines, Predictive Health Partners uses real-time data, predictive analytics and artificial intelligence to help employees be better consumers and managers of their health insurance by personalizing communications and aligning personal preferences to act as a virtual health concierge.

The company received a $25,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, proof of concept, market planning and hiring key personnel.

The POCR Fund provides financial assistance to innovative businesses that are pursuing proof of commercial relevance and marketability of a technology.

Whirrx

Whirrx is a Cedar Rapids-based company that has created a turnkey drone system for engineering design surveys that is as accurate as traditional methods. This system, known as SurveyWhirrx, includes everything a customer needs from an equipment and training standpoint, in addition to cloud software processing for converting collected drone data into a highly accurate engineering deliverable for design. 

This system allows surveys to be done 5-7 times faster than the traditional survey method, eliminates the need to have in-house experts to process collected survey data, provides a superior digital 3-dimensional deliverable with aerial imagery for less cost and improves safety by removing surveyors from hazardous areas.

The company was awarded a $100,000 Demonstration Fund loan for product refinement, market planning and hiring key personnel.

The Demonstration Fund provides financial and technical assistance to encourage high-technology prototype and concept development activities that have a clear potential to lead to commercially viable products or services within a reasonable period. 

Previous coverage

Four startups receive funding from IEDA – Sept. 24, 2018