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Three finalists selected for John Pappajohn Entrepreneurial Competition

September 4, 2019

The three finalists have been announced for the John Pappajohn Iowa Entrepreneurial Venture Competition.

The winner of the competition will be announced at an Awards Luncheon at Drake University in Des Moines on Sept. 12. A total of $100,000 in prizes will be given out to the three finalists: a $40,000 First Place Prize; a 25,000 Second Prize; a $15,000 Third Prize: additional Prizes totaling $20,000.

The 3 finalists are:

CartilaGen, Jaison Marks – CartilaGen is founded on a biomedical technology comprising of an intra-articular injection containing a drug suspended in a hydrogel vehicle capable of effectively preventing posttraumatic osteoarthritis – an entirely novel feat that has yet to be demonstrated by any therapeutic.

Rantizo, Michael Ott – Rantizo is developing an integrated drone-based platform for the identification of in-field anomalies and targeted aerial application of agricultural chemicals via an electrostatic spray technology on board unmanned aerial vehicles.

VetMeasure, Kevin Maher – VetMeasure is an animal health technology company that has developed a canine harness capable of continuously monitoring key animal health metrics, allowing earlier detection of potential problems

Previous coverage

PowerPollen takes home $40,000 after winning 2018 Pappajohn Pitch Competition -Sept. 18, 2018

Tags: John Pappajohn

Three finalists selected for John Pappajohn Entrepreneurial Competition | 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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