Sixteenth Edition: Startup Iowa Hot List
Meet the startups to support and watch in Iowa + beyond
Every month, I write a newsletter for Iowa entrepreneurs to get more connected to the strong networks of support in the Midwest (and beyond). Investors, entrepreneurs, mentors, corporate leaders, economic developers, researchers, and educators in and outside Iowa can dial in on the startup activity happening across the state while finding the next business to support.
Welcome to the 17 new Startup Iowa Hot List members who have joined us since the last edition. Join 525 intelligent, curious, and supportive startup champions by subscribing below.
Spotlight Event: Iowa Angel Investor Summit @Landus Innovation Connector
The Iowa Angel Investor Summit is a one-day summit on Tuesday, November 14, for active and aspiring angel (startup) investors to help accelerate the entrepreneurs who are changing the world.
The summit experience will share topics around:
How to Become an Angel Investor, a workshop led by Tej Dhawan
A case study with Groove Capital, Minnesota’s First Check Fund
Understanding rolling fund structures with Network Ventures
Speed reading term sheets with founder Ben Milne
Conversation with Caregiven founder and their early-stage angel and corporate investors around the relationship as a ‘first believer’
Bringing back The Best of the Midwest, a special investor pitch event featuring Midwest startups actively fundraising where angel investors and fund managers can jointly invest through a special investment fund created for just this event
Sponsored by Iowa Economic Development Authority, InnoVenture Iowa, UHY Advisors, and the Iowa Venture Capital Association. Registration is now open!
Startups interested in pitching at the Best of the Midwest, apply before October 20 here.
Actively Raising
🚀Inseer
Highlights: Inseer leverages computer vision to develop an artificial intelligence (AI) platform to enhance workplace safety, improve ergonomics, and boost productivity across various manufacturing environments. Inseer caters to various customer segments, including industrial manufacturing corporations, healthcare institutions, physical therapy clinics, and insurance companies, with an addressable market of approximately $20 billion.
Raising: $4.5M Committed: $2.6M
Leadership team: Shane Larson, CEO
Contact: shane.larson@inseer.com + web; HQ: Iowa City, Iowa
Can you help? The team wants to connect to lead and strategic investors in and outside of Iowa as they complete their fundraising round.
🚀Ten5
Highlights: Ten5 develops and sells voice-based communications technology for the trucking industry and other mobile worker applications needing better tools to stay connected, motivated, and productive. Fleet managers can prioritize messaging and improve communications visibility, improving trust between drivers and managers.
Raising: $800,000 Committed: $100,000
Backed by: Bootstrapped to date, with founders investing $400,000
Founding team: Drew Ryder, CEO; Chris Saunders, Sales; Susan Fall, Marketing
Contact: dryder@ten5.app + web; HQ: Des Moines, Iowa
Can you help? The team seeks customer introductions and talent, including sales, product support, and business development.
🚀Want to be featured? Looking for more Iowa businesses for investment?
For a list of more startups actively raising (that may not appear in this newsletter) or to be featured in the next edition, reach out!
Have you missed a monthly digest? Check out the Startup Iowa Hot List archives for companies raising here.
State Funding Announcements
Iowa Economic Development Authority announced four startups that received financial assistance, including:
GeoVention awarded $50,000 for the Proof of Commercial Relevance
Salin247 awarded $50,000 for the Proof of Commercial Relevance
Clinic Note awarded $250,000 for the Innovation Acceleration Launch Fund
MACH awarded $1,000,000 for the Innovation Acceleration Expansion Fund
National Small Business and Innovation Grants
Ames-based startup SoilSerdem has been awarded a National Science Foundation grant for $1,000,000 to create high-quality, lower-cost soil maps using machine-learning algorithms
Ames-based startup Parametric Studio has been awarded a National Institutes of Health grant for $1,200,000 to bring real-world STEM projects, tools, and career-oriented experiences to high school and undergraduate students everywhere
Mergers & Acquisitions
+ Des Moines-founded Denim Social acquired by Capacity
On the Horizon: Companies to Watch
LSF Medical Solutions - Builds solutions for people with lung disease and consulting services for pre- and clinical cardiorespiratory work
NarrateAR - Uses generative AI and detailed student user learning profiles to deliver personalized literacy and writing learning activities for PK-12 education
Softvoya - Helps fast-growing tech companies and startups bring their ideas to life through custom software development
Soylei Innovations - Develops biobased materials with a wide range of products that enhance diverse market sectors, such as cement, asphalt, shingles, and construction to plasticizers and plastic toughing
Upcoming Events
Note: This section continues to grow, and I encourage all to support and show up, as there are many great community organizers behind the events who would appreciate it! If I missed one, please share it for the next edition.
📅 October 6 - The Ag Innovators Unconference (Des Moines)
📅 October 10 - Entrepreneur Field Day: PowerPollen (Ames)
📅 October 14 - Smart Start Workshop (Ames)
📅 October 18 - Women Who Create Conference (Ames)
📅 October 18 - Entrepreneur Field Day: Grade A Gardens (Earlham)
📅 October 25 - Entrepreneur Field Day: Wander Women (Des Moines)
📅 November 2 - Iowa Family Business Conference (Ames)
📅 November 2 - Prometheus Awards (Des Moines)
📅 November 13-19 - Global Entrepreneurship Week
📅 November 14 - Iowa Angel Investor Summit (Des Moines)
📅 November 15 - Business Transition Planning Workshop (Mason City)
📅 November 18 - Immigrant Entrepreneurship Summit (Ankeny)
Story + Sound Bites
🔊 Collegiate NIL, The Wild West of Sports (The Entrepreneur’s Ethic Podcast)
📚 Conscious Capitalism: Liberating the Heroic Spirit of Business (John Mackey)
🗞️ New resource directory aims to create ‘easier on-ramp’ to entrepreneurial resources (innovationIOWA)
🗞️ Liz Lidgett Gallery named one of the top small businesses in country by US Chamber (DSM Register)
🗞️ Reflections on a decade of the Global Insurance Accelerator (innovationIOWA)
What’s in a name? The Startup Iowa Hot List is specially curated with a rush of urgency to read just before the news cools. See a company you are interested in helping? Please act and support entrepreneurs who may be featured on this list and those close by, impacting our local communities and neighborhoods.
Entrepreneurship has always been a community sport.
Want to be featured in the next Startup Iowa Hot List? Reach out to Diana at dwright@dsmpartnership.com.