Iowa Innovation Acceleration Fund

Helping emerging industries commercialize technology

The Iowa Innovation Acceleration Fund promotes formation and growth of businesses that engage in the transfer of technology to competitive, profitable companies that create high-paying jobs. Funds are designed to accelerate the pace of market development, leverage private investment and industrial expansion efforts that result in significant capital investment. The fund provides financing to eligible businesses through two program components that correspond to different stages of growth for investment-grade, high-growth enterprises.

  • Awards in the form of royalty arrangements or loans with a 1:1 (private:public) match
  • The fund is split into these programs:
    • PROPEL awards up to $300,000 to accelerate market development for companies that have critical management in place, have a validated business model and an established customer base that’s generating substantive revenue
    • INNOVATION EXPANSION awards up to $500,000 to encourage expansion of product lines in companies that have a complete management infrastructure, a demonstrated historical profitability and an established customer base; funding provides assistance for product refinement and market expansion activities for unique, innovative and competitive products.
  • Funds can be used for:
    • Advanced intellectual property development and evaluation, including in-depth analysis of market potential (bioscience)
    • Further competitive analysis, advanced development of a scientific discovery (bioscience)
    • Product focus group research (medical device)
    • Enhancement of existing product for additional platform applicability to extend addressable market (software)
    • Recruitment and hiring of key personnel and related activities
    • Achievement of product economies of scale
    • Expansion of marketing and sales-related activities
    • Equipment purchase
    • Construction costs

Eligibility

  • Iowa-based company with innovative technology solution(s)
  • Fewer than 500 employees
  • Commitment to commercialize the product in the advanced manufacturing, bioscience or information technology industries
  • Competitive and protectable product, mature technology or process
  • Complete management team
  • Proven business model
  • Established customer base
  • Significant/substantive revenue
  • Demonstrated financial and operational stability

How to Apply

  • Applications reviewed on an ongoing basis with funding decisions bi-monthly
  • Submit completed application to the Iowa Economic Development Authority (IEDA)
  • IEDA has engaged the services of VentureNet Iowa to manage the application review process
  • Applicant completes panel review process and presentation to the IEDA Technology and Commercialization Committee (TCC)
Program Contact(s)

Gail Kotval
515.725.3192
innovation@iowaeda.com

John LaMarche, VentureNet Iowa
515.471.1965 or 515.471.1300

 

 

 
Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.725.3000
email: Email Us

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