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University of Iowa, Iowa State set new funding records for fiscal year 2022

The University of Iowa and Iowa State University have both released their external funding records for the budget year that ended June 30, and both universities surpassed their previous funding records.

The University of Iowa received $867 million in external funding in the 2022 fiscal year. This represents a 6% increase over the 2021 fiscal year.

“These funds allow the University of Iowa to continue to provide transformative educational experiences for students, advance discoveries through research, and improve the lives of Iowans through education, health care, creative productions, and economic vitality,” Marty Scholtz, vice president for research, said in a statement. “We are proud of the hard work of the faculty, staff, and students who secured this funding in order to advance the university’s threefold mission of teaching, research, and public service.”

Iowa State University attracted a record $601.7 million in total external funding for the 2022 fiscal year. It’s the first time Iowa State’s external funding total has exceeded $600 million. The new record is a jump of $42.6 million and 7.6% from the previous high of $559.1 million set in fiscal year 2021. 

“Record external funding and sponsored research affirms Iowa State’s excellence as a renowned research and land-grant university,” said ISU President Wendy Wintersteen. “Iowa State’s research enterprise is flourishing in a university ecosystem devoted to innovation and entrepreneurial growth. Through our business and industry partnerships, research-based startups and career-ready graduates, Iowa State is accelerating the state’s economic progress.”

Iowa State’s biggest federal research supporter in the 2022 budget year was the Department of Energy with nearly $68 million, followed by the Department of Agriculture with nearly $48 million.

1 Comment

  • james smith
    Posted July 19, 2022 at 8:15 am

    Record funding!
    And yet they are raising tuition??

Comments are closed.

University of Iowa, Iowa State set new funding records for fiscal year 2022 | 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
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