The Iowa Economic Development Authority (IEDA) Board has approved innovation funding for five startups located in Iowa City, Davenport, Ames and Urbandale. In total, $650,000 was awarded to the five startups.
Hear are the five startups that received funding:
Founded around a medical technology developed at the University of Iowa in Iowa City, CartilaGen produces a novel therapeutic for post-traumatic osteoarthritis (PTOA). Filling an unmet medical need, the company’s product can prevent the development of the disease at the earliest stage. The current therapeutic landscape only consists of products to manage the symptoms, nothing with preventative of curative capabilities. CartilaGen’s product is the only treatment that focuses on the earliest stage of PTOA and modifies the underlying disease in an easily performed, cost-effective manner.
The company was awarded a $25,000 Investigative Proof of Commercial Relevance loan.
MC4L in Davenport creates products and services for the higher education marketplace, which are developed from their proprietary dataset of college pricing information gathered through TuitionFit, the company’s online platform. Providing more transparency for students and families seeking higher education, the platform compares individualized college prices by engaging in a secure exchange of information. With this dataset, students and families can purchase comparative pricing information, college search professionals can subscribe to search it and higher education institutions can subscribe to access competitor pricing information.
The company was awarded a $100,000 Demonstration Fund loan for marketing planning/entry activities and key personnel.
Qi Learning, based in Ames, promotes science, technology, engineering and mathematics (STEM) through trainings, products and workshops for instructors. Designed with a skills-based approach, Qi provides teachers with the tools to teach and actively engage students in standards-aligned instruction with the resources they already have. The company focuses on effective teaching methodologies with an emphasis in STEM, although the programs can be applied to all subjects. With distance learning during the pandemic, Qi has been able to provide programs to help with the transition.
The company was awarded a $25,000 Proof of Commercial Relevance loan for product refinement, market planning/entry activities, key personnel and equipment.
Davenport-based TapOnIt, a messaging technology company, provides a SaaS platform that enables businesses to reach, engage and convert opted-in customers through personalized multi-channel messaging, known as TapOnIt Technology. The platform helps automate a brand’s entire customer engagement and retention strategy. TapOnIt Deal is the company’s branded, national database of consumers that have opted in to receive offers and promotions from restaurants, retail and entertainment businesses via text message.
The company was awarded a $250,000 Innovation Acceleration Propel fund award for growing the team and the database and continuing product development.
A mobile app and web-based platform, Tractor Zoom in Urbandale allows customers to quickly search and value heavy equipment using big data and technology. Used specifically for upcoming farm equipment auctions, the app streamlines the advertising process to directly place the auctions in the hands of farmers. Farmers are now able to search auction inventory across the entire country anytime, anywhere. It will build a database of comparable sales to assist with equipment valuations and industry market trends.
The company was awarded a $250,000 Innovation Acceleration Propel fund award for product refinement, market planning/entry activities and key personnel.