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Investing in Iowa: Q4 2020
Iowa startups raised $145 million this year. That is by far the most capital raised by Iowa startups seen since we began tracking investments in 2018. Since the beginning of 2018, Iowa startups have now raised a total of more than $300 million. The following is a list of all known investments raised by Iowa…
Investing in Iowa: Q1-Q3 2020
The following is a list of all known investments raised by Iowa companies through the first three quarters of 2020. In total, Iowa-based companies raised just over $109 million through the first three quarters of 2020. Here is a list of Iowa companies that have raised investment money so far this year: QUARTER 1 CompanyLocationAmount…
Middle Bit: NewBoCo Launch Day will celebrate 2018 accomplishments
NewBoCo Launch Day will take place Tuesday, December 11, at Theatre Cedar Rapids. Launch Day is NewBoCo’s annual event that celebrates accomplishments in entrepreneurship, innovation, and tech education in Iowa. NewBoCo Launch Day will feature pitches from Iowa Startup Accelerator portfolio companies and Social Good Accelerator teams, highlights from Intrapreneur Academy, and a progress report from…
Five startups present at Agtech Demo Day
The culmination of the Iowa Agritech Accelerator came on Tuesday as the five companies in the 2018 cohort presented their businesses to an audience of over 100 people. The accelerator is a three-month program that provides agtech startups with financial support, mentorship and professional resources needed to help make their ideas a reality. Each company presented about…
Entrepreneurs showcase their businesses at Innovation EXPO
Last week's Innovation EXPO drew a crowd of nearly 600 entrepreneurs, inventors, investors, students, business and community leaders from across the state. The EXPO comprised of multiple events that provided educational and networking opportunities for Iowa-based, high-growth-potential businesses of all stages. This year's EXPO coincided with EDC's 15-year anniversary. The milestone was marked by a…
Investing in Iowa: Q1-Q3 2018
The following is a list of all known investments raised by Iowa companies through the first three quarters of 2018. Going forward, we plan to compose a similar list of investments for every quarter to build a credible track record of capital raised throughout Iowa. Over time, we will add analysis to these posts, comparing past…
Iowa startups Archives | Page 2 of 2 | 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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