IEDA awards funding to four startups

Illustration by Nathan Wright.

The Iowa Economic Development Authority (IEDA) board has approved innovation funding for four startups located in Ames, Davenport, Prole and Coralville.

In total, the IEDA awarded $800,000 in funding. Here are the four startups that received funding:

KinoSol (Ames)

KinoSol has developed a solar-powered food dehydrator with Mylar food storage bags designed for farmers in developing countries to dehydrate fruits, vegetables, grains and insects using solar energy. KinoSol plans to improve the functionality of the dehydrator and continue market research to identify the best sales strategy.

The company was awarded a $25,000 Proof of Commercial Relevance (POCR) loan for product refinement, market planning and key personnel. 

TuitionFit (Davenport)

TuitionFit is an online platform that allows the public to share college financial aid offers and create a transparent catalog of prices offered to students organized by different economic and academic profiles. With this information, students and families seeking a college option that they can afford are now able to shop and compare by actual price.

The company was awarded a $25,000 POCR loan for market planning and market entry. 

Ag Manufacturing & Technology (Prole)

Ag Manufacturing & Technology is an agtech company that develops, manufactures, sells and services aftermarket ag machinery equipment that eliminates overseeding on all types of agriculture terrain. The patented motorized manifold hardware is controlled and monitored by custom software through an integrated touchscreen display in the tractor cab.

The company was awarded a $250,000 Propel loan from the Iowa Innovation Acceleration Fund for additional manufacturing capacity, market expansion activities and hiring key personnel. 

VIDA Diagnostics (Coralville)

VIDA Diagnostics is a provider of patented, clinically validated pulmonary imaging diagnostics software that uses big data and imaging analytics to help fight lung disease and improve the quality of pulmonary care, including emphysema, chronic bronchitis, lung cancer and asthma. VIDA’s LungPrint is an artificial intelligence-powered advanced imaging analysis for patients with, or at risk for, pulmonary diseases.

The company was awarded a $500,000 Expansion loan from the Iowa Innovation Acceleration Fund for hiring key personnel, market planning and product refinement. 

Previous coverage

IEDA provides $350,000 in funding to five startups -Aril 2, 2019

Iowa State grads are using the sun to cut global food waste -July 13, 2017