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Iowa allocates $5 million of CARES Act funding to job training for those affected by pandemic

August 27, 2020

Gov. Reynolds announced on Wednesday that $5 million in Coronavirus Relief funds are going to the Future Ready Iowa Employer Innovation Fund.

The funding will provide employers and community leaders with the funding needed to train Iowans, so they’re ready for opportunities in high-demand jobs. Gov. Reynolds’ office said the grants specifically focus on Iowans whose jobs have been affected or eliminated due to the pandemic.

In addition to training, books and other tools, the funds can go toward support services that will cover childcare, transportation and other necessities while in training.

“The Employer Innovation Fund empowers employers and communities to find creative ways to help workers most affected by the pandemic by identifying local workforce needs and then creating programs that will quickly get people into and out of training to meet those needs,” said Beth Townsend, Director of Iowa Workforce Development in an announcement. “As Iowa’s businesses reopen, the grants will help Iowans gain credentials in high-demand jobs that support a good quality of life for themselves and their families. It is a tremendous investment in our workers and our recovery.”

Applications opened on August 26 and will remain open until September 16, with recipients being notified by September 23. No matching funds will be required from applicants. The maximum available award is $100,000 per applicant.

Previous coverage

Middle Bit: Future Ready Iowa Employer Innovation Fund awards 14 recipients -Jan. 17, 2020

Employer Innovation Fund awards $400,000 to 13 employers across Iowa -Aug. 28, 2019

$16 million in funding now available through Future Ready Iowa programs -June 14, 2019

Tags: Employer Innovation Fund Future Ready Iowa

Iowa allocates $5 million of CARES Act funding to job training for those affected by pandemic | 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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