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IEDA Board approves assistance for six Iowa companies
The Iowa Economic Development Authority (IEDA) Board has approved awards for six Iowa companies, which will assist in the creation of 640 jobs and result in nearly $265 million in new capital investment for the state. The projects are located in Burlington, Cedar Rapids, Davenport, Hampton, Osage and Red Oak. The board also approved…
Six Iowa startups receive IEDA funding
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of six Iowa startups. In total, the six companies received $675,000 in funding. Here are the startups that received funding. Axis-U Axis-U of Ankeny developed an online pre-apprenticeship training platform that helps Iowa employers connect to job seekers. After starting with the healthcare industry,…
IEDA awards funding to five Iowa startups
The Iowa Economic Development Authority (IEDA) Board has approved funding for five Iowa startups. In total the five startups received $300,000 in funding. Here are the five startups that received funding. FBB Biomed FBB Biomed, doing business in Coralville, is a biotech company with a mission to expand the reimbursable diagnostics market to brain diseases.…
IEDA awards $22 million in Manufacturing 4.0 funding 
The Iowa Economic Development Authority (IEDA) announced last Thursday that $22 million in Manufacturing 4.0 Workforce Innovation grants have been awarded to 46 companies in Iowa. These grants are geared toward Iowa manufacturers with 76-250 employees across locations investing in Industry 4.0 technologies to address workforce issues exacerbated by the negative impacts of COVID-19.…
Four Iowa startups receive IEDA funding
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of four Iowa startups. Here are the startups that received funding.  Distynct Ames-based Providence Data Technologies, doing business as Distynct, provides an internet-based remote monitoring and alarm platform for livestock facilities, which allows producers to optimize personnel by directing them to the most significant problems of the…
New Iowa State project will build 3D-printed houses in rural Iowa
Iowa State University recently announced plans to use a giant 3D printer to manufacture affordable homes in rural Iowa. Earlier this month, the ISU College of Design’s 3D Affordable Innovative Technologies Housing Project received a $1.4 million Strategic Infrastructure Program (SIP) grant from the Iowa Economic Development Authority. The grant will fund equipment and materials, including…
IEDA awards funding to four Iowa startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of four Iowa startups. In total, $275,000 was awarded to the four startups. Here are the startups that received funding. Mazen Animal Health Ames-based Mazen Animal Health develops oral animal vaccines for animal disease prevention. The edible vaccines can be dosed with feed, offering a cost-effective, safer…
Iowa Energy Center launches loan program for energy infrastructure projects
The Iowa Energy Center (IEC) Board and the Iowa Economic Development Authority (IEDA) have opened the first application window for a new supportive energy program, the Energy Infrastructure Revolving Loan Program (EIRLP). The EIRLP will provide low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage, or distribution. The purpose of…
IEDA awards funding to three startups
The Iowa Economic Development Authority (IEDA) board has awarded innovation funding to three Iowa startups. In total, $525,000 was awarded. Here are the three startups that received funding. Farmer's Risk (Ames) Based in Ames, Farmer’s Risk is a software platform that aggregates the critical risk management components used by farmers. It aggregates crop insurance choices, cash sales data, and…
IEDA approves projects for five Iowa companies
The Iowa Economic Development Authority (IEDA) Board approved awards for five Iowa companies, which will assist in the creation of 170 jobs and result in $50.4 million in new capital investment for the state. The five projects are located in Cedar Rapids, Denison, Indianola, Louisa county and Webster county. All five of the projects…
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…
Iowa Economic Development Authority 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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