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University of Iowa to host multiple competitions for student entrepreneurs

September 16, 2019

Over the next month, the University of Iowa (UI) will hold two different pitch competitions—the Fall 2019 IdeaStorm and the Iowa Startup Games.

IdeaStorm Week

From Sept. 30 to Oct. 3, UI will be holding IdeaStorm Week, a week full of entry level pitch competitions where UI students can share their business idea in two minutes or less with a panel of judges and an audience. After the presentations, the judges will deliberate and announce the winners and award the cash prizes. 

UI will be holding four different pitch competitions, each with their own focus. Students must apply by Sept. 26.

MONDAY, SEPTEMBER 30
HEALTH INITIATIVES IdeaStorm
Creating a better well-being through healthcare innovation

Competition focuses on new solutions to healthcare problems. Ideas may focus on a variety of aspects of healthcare, including mental health, dentistry, pharmacy, patient experiences, health outcomes, medical devices, public health and more.

TUESDAY, OCTOBER 1
CREATIVE CONCEPTS IdeaStorm
Innovation through art, design, history, music and literature

Competition focuses on sharing new ideas within the world of art. Ideas may focus on a variety of creative mediums such as fine arts, fashion, design, music, history, literature and more.

WEDNESDAY, OCTOBER 2
COMMON GOOD IdeaStorm
Inspiring change through social and sustainable ideas to benefit the common good.

Competition focuses making the world a better and more sustainable place. Ideas may be connected to eco-friendly, sustainability, social justice, crisis management, natural disaster solutions, and much more.

THURSDAY, OCTOBER 3
CONSUMER SOLUTIONS IdeaStorm
Exploring Solutions to everyday problems through new products or services.

Competition focuses on innovative solutions to everyday problems. The range for this competition is wide, and covers food products, household goods, living essentials, travel, technology and much more.

Iowa Startup Games

UI will be holding the Iowa Startup Games Oct. 25-27, a three-day event where students, from all areas of study, pitch their startup ideas, and in a team with peers, spend a weekend working to bring the idea into reality.

After students pitch, they will form teams and work together to bring the best ideas to life. By the third day, each team will pitch to a group of panelists for a chance to win cash prizes.

Registration for the Iowa Startup Games is due Wednesday, October 9th.

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University of Iowa to host multiple competitions for student entrepreneurs | 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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