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6 Iowa companies rank among Inc.’s fastest growing companies in the Midwest for 2023

March 1, 2023

Inc. Magazine released its “Inc. 5000 regionals: Midwest 2023” list on Tuesday and six Iowa companies made the list.

The Midwest List is comprised of 203 of the fastest-growing private companies in Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.

Topping the list of Iowa companies was Camillus Staffing in West Des Moines, coming in at rank 10 nationwide. The company saw a two-year-growth of 1,401%.

Ranking right behind them at rank 85 nationwide is VizyPay, a retention and referral company for frontline workers.

“Year after year, VizyPay is shaking up the Midwest by bringing innovation and opportunity to the region. Our transparent payments solutions, powerful technology and rapidly growing, dedicated team are reshaping the stagnant payments industry for the better,” said CEO and founder Austin Mac Nab in a release. “We’re proud to be a key pillar of the Midwest’s flourishing economy. By eliminating unnecessary payment processing fees, small business owners across rural America can keep more of their hard-earned money and reinvest it back into the communities they serve.”

Other Iowa companies that made the list include Iowa Customs (no. 101), UltimateTax (no. 149), JT Logistics (no. 175) and Kingland (no. 182).

Tags: Inc. 5000

6 Iowa companies rank among Inc.’s fastest growing companies in the Midwest for 2023 | 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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