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Iowa G2M Accelerator announces changes to program

September 15, 2021

The Iowa Go-To-Market (G2M) Accelerator has announced changes to how often the program will be run. Beginning in 2022, the accelerator will offer multiple entry dates when startups can join the accelerator.

Iowa G2M will offer three start times each year, in February, June, and October. A similar number of companies will participate in the program annually, with fewer starting the program at any one time. This change will be accompanied by the introduction of a rolling application process.

“From its conception, the intent of the G2M Accelerator was to provide companies with individualized support and, based on learnings from the first year of the program,” said Jim Register, Co-Director of the G2M program. “We believe adding flexibility to when companies can start the program will further this effort.

Other key characteristics of the program will stay the same — the Iowa G2M Accelerator will remain centered around providing companies individualized mentor guidance and business service provider support and will continue to run over a 7-8 month period.

The first cohort was announced in February 2021, with the first sessions taking place remotely. The accelerator will conclude its inaugural program next month with a public Pitch Day on October 5 from 3:00-5:30 pm.

The new schedule will kick off with the February 2022 cohort, with applications for this round will open soon.

Previous coverage

Iowa G2M Accelerator holding Pitch Day on Oct. 5 -Sept. 8, 2021

Iowa G2M Accelerator announces the 5 startups in its first cohort -Feb. 23, 2021

An in-depth look at Iowa’s new ‘G2M’ Accelerator -Dec. 7, 2020

Tags: Iowa G2M Accelerator

Iowa G2M Accelerator announces changes to program | 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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