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$14,000 in prizes awarded to Hawkeye Startup Accelerator companies

15 student-run companies from the University of Iowa’s John Pappajohn Entrepreneurial Center (Iowa JPEC) Hawkeye Startup Accelerator program pitched their innovative business ideas Friday, July 31, marking the end to the first-ever virtual 2020 Hawkeye Startup Accelerator. 

During this eleven-week program, the accelerator teams met daily to launch their startup using Lean LaunchPad methodologies. Student entrepreneurs participated in workshops, sessions with experienced mentors, weekly pitches, and lectures throughout the virtual summer program.

“The students in the 15 startups that were part of the University of Iowa’s 2020 Hawkeye Startup Accelerator all worked incredibly hard on their businesses and there are several poised for immediate success,” said Lynn Allendorf, Director of Iowa JPEC. “This year, because of COVID-19 we had to move our entire program online.  The teams did an amazing job adjusting to this format and still were able to meet regularly with mentors, perform customer discovery and participate in our Lean Startup training programs.”

Teams presented their businesses on Friday in front of a panel of judges for a chance to win cash prizes. A total of $14,000 was awarded to winning teams at the end of final pitches.

Here are the 2020 Accelerator winners:

Investor Pitch Winners

1st Place ($3,000) | Downsizing Professionals

1st Place ($3,000) | Students Care 

2nd Place ($2,000) Capture Pro

3rd Place ($1,000) Apollo

Best Pitch ($500) Benedict’s Basket

People’s Choice ($250) Fantastikk  

Elevator Pitch Winners

1st Place ($1,000) Dorian Frame

2nd Place ($500) Re/Fuse 

Best Pitch ($500) | Assistance Tech

Best Pitch ($500) Get To Know Me

People’s Choice ($250) | Assistance Tech

Additional Prizes

Most Improved Team ($500) | Glider Electric Scooter

Most Improved Team ($500) Downsizing Professionals

Best Use of Customer Discovery ($500) | Fantastikk

$14,000 in prizes awarded to Hawkeye Startup Accelerator companies | 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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