Proof of Commercial Relevance
Business Programs
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 $50,000 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
- Bio-medical companies in the medical device, therapeutic drugs and diagnostics areas that require regulatory approval may be eligible for the Investigative POCR program to identify gaps in technology; explore commercialization feasibility; and provide the foundation to attract management
Who Qualifies?
- 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 prototype) 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 Do I Apply?
- Applications reviewed on an ongoing basis with funding decisions bi-monthly
- IEDA has engaged the services of VentureNet Iowa to manage the application review process
- Contact VentureNet Iowa at innovation@iowaeda.com for current application and to verify eligibility
- Applicant completes panel review process and presentation to the IEDA Technology and Commercialization Committee (TCC)
For more information, contact: