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IEDA awards funding to four Iowa startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of four Iowa startups. Here are the startups that received funding. True360 Founded in 2016, True360 of Ames captures immersive experiences through their 'WOW! Moment Finder' that can automatically compile highlight reels and their 360-degree camera enclosures that immerse users directly into different worlds. The company…
IEDA awards $425,000 in funding to seven startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of seven Iowa startups. In total, $425,000 was awarded. Here are the seven startups that received funding. Skroot Laboratory Skroot Laboratory in Ames creates technical shortcuts for the biomanufacturing industry with the creation of a sensor system that monitors the health of cells in…
Five startups receive funding from IEDA
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: CartilaGen Founded around a medical technology developed at the University of Iowa in Iowa City, CartilaGen produces a novel therapeutic for post-traumatic…
Two startups receive funding from IEDA
The Iowa Economic Development Authority (IEDA) Board approved innovation funding in support of two startups located in Urbandale and Clive. Inflexion Point Technologies (IPT) An innovative idea to optimize current and future seed treatments to the maximum extent possible led to the founding of Urbandale-based Inflexion Point Technologies (IPT). The Prescriptive On-Planter Seed Treatment system can either be integrated into…
Four startups receive funding from IEDA
Last week, the Iowa Economic Development Authority (IEDA) Board approved innovation funding for four startups located in Ames, Cedar Falls and DeWitt. In total, $100,000 was awarded to the four startups. Hear are the four startups that received funding: Curiosity Labs Curiosity Labs, a data acquisition company in Ames, develops platforms that automate manual visual tasks with computer vision.…
IEDA awards innovation funding to five startups
The Iowa Economic Development Authority (IEDA) Board has approved innovation funding for five Iowa startups. The startups — located in Ellsworth, Iowa City, Marion, Des Moines and Roland — received a total of $175,000 in funding. Here are the startups that were awarded funding: Eagle’s Catch Eagle’s Catch, an aquaculture company headquartered in Ellsworth, provides safe,…
IEDA approves innovation funding for four startups
Last week, the Iowa Economic Development Authority (IEDA) Board approved innovation funding that will support four Iowa startups located in Ames, Iowa City, West Des Moines and West Liberty.  Here are the four startups that received funding: Skroot Laboratory (Ames) Founded in 2018, Skroot Laboratory produces wireless sensor systems for upstream biotherapeutic process developers which allow them…
Innovation Funding Archives | 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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