Proof of Commercial Relevance (POCR)

Helping companies reach commercialization

The Proof of Commercial Relevance (POCR) program is designed to define and articulate the opportunity for businesses that demonstrate a proof-of-concept for innovative technology.

  • Awards up to $25,000 in low interest loans with a 1:2 (private:public) match
  • Recommend the applicant has completed initial inquiry as to value proposition, target market and business model
  • Funds can be used for validation of market potential:
    • Beta testing activities that focus on validation of the technology/product, business model and marketing/distribution strategy/tactics (non-biomedical companies where regulatory approval is required)
    • Intellectual property development and evaluation, including in-depth analysis of market potential
    • Extended competitive analysis
    • Furthering translational development of a scientific discovery

Eligibility

  • Iowa-based company legally formed and registered with the Iowa Secretary of State
  • Fewer than 500 employees
  • Advanced manufacturing, bioscience or information technology industries
  • Validated concept or intellectual property and demonstrated proof-of-concept (functional Minimum Viable Product - MVP) of innovative technology solution
  • Seeking market validation of products/services and business model prior to commercial launch
  • Minimum of two co-founders/principals actively engaged in the business (expertise in core technology and business development/financial operations)

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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