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Young Entrepreneur Convention set for Feb. 25 in Ames
Young Entrepreneur Convention 2023 is set to take place Saturday, February 25 in the Student Innovation Center on the Iowa State campus. The event is focused on providing information, motivation, and practical tools to assist early-stage founders. In addition to a series of keynote speakers and panel discussions, the event offers ample time for…
Three startups receive IEDA funding
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of three Iowa startups. In total, $250,000 was awarded. Here are the startups that received funding. Cavergence Tech startup Cavergence in Cedar Rapids develops software for construction project management. The technology has the potential to save money, increase productivity and ensure on-time delivery. The company was…
Fourth cohort of Iowa G2M Accelerator announced
The Iowa Go-To-Market (G2M) Accelerator has announced the three startups that will participate in its fourth cohort. The following companies have been accepted into the fourth G2M cohort: Hexcrete (Ames) — Hexcrete makes harvesting wind energy possible where the demand is high by increasing the hub height of today’s towers by mounting them on a universal…
Bristola raises $1.1 million funding round
Bristola, a Des Moines-based clean energy technology and maintenance company, announced last week the successful close of a follow-on equity investment of $1.1 million. Bristola is a renewable energy technology services company that has a technology that revolutionizes the servicing, cleaning and maintenance in the renewable energy digester industry. Bristola’s patented technology is…
Des Moines platform Hummingbirds raises $1 Million in seed funding
Hummingbirds, an online platform that connects businesses with hyper-local content creators, announced this week it has raised over $1 million in funding. The round was led by Chicago-based venture capital firm M25 with participation by Next Level Ventures, InnoVentures Iowa, ISA Ventures, Mango Seed Investments and a handful of angel investors. Hummingbirds is a platform…
Iowa Business Council releases Economic Outlook Survey for Q4 2022
 The Iowa Business Council (IBC) has released its fourth quarter Economic Outlook Survey for 2022. The report measures member expectations for sales, capital spending and employment for the next six months. If the index measures above 50, sentiment is positive. The fourth quarter survey's overall economic outlook index is 59.26, up 0.51 index points…
Maple Studios’ new space expected to open in early 2023
Entrepreneur support center Maple Studios (previously Maple Ventures) is now accepting membership interest forms from industrial technology startups and early-stage companies looking for space later this year. Renovations are currently underway to convert one of three buildings at Ramco’s West Des Moines location to house Maple Ventures. The space is expected to complete the remodel…
Newly formed Ames company will bring autonomy to ag industry
Two agricultural technology companies—Redshield Electronics in Ely, Iowa and LSA Autonomy in Maryland—have merged to create MACH, a company seeking to convert farm equipment into self-driving vehicles. MACH, located in the Iowa State University Research Park in Ames, will work with equipment manufacturers to convert tractors and other farming and off-highway equipment into autonomous equipment…
Venture School accepting applications for spring cohort
The University of Iowa's Venture School program is accepting applications for its Spring 2023 cohort to be held at various locations across the state, beginning the week of Feb. 20. The sessions meet one night a week for seven weeks as either hybrid, fully remote, or in-person, depending on location. The final class of the…
TAI announces 2023 public policy priorities, Legislative Launch
 The Technology Association of Iowa (TAI) has released its 2023 State and Federal principles and priorities leading into the 2023 Iowa legislative year. “Heading into the 2023 session, we are eager to build on our policy positions and have identified key areas of focus centered on data privacy and cybersecurity-related legislation,” said Brian Waller, president…
Clay & Milk | Page 3 of 135 | Covering Iowa's startup, entrepreneurial and tech communities
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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