Twenty-first 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 44 new Startup Iowa Hot List members who have joined us since the last edition. Join 656 intelligent, curious, and supportive startup champions by subscribing below.
Applications are open for startups!
G2M Accelerator
The Go 2 Market (G2M) Accelerator is actively recruiting for its next cohort, which starts in October. The goal of G2M is to provide companies with individualized assistance to prepare them for investment fundraising and business launch after their experience in an initial incubator or accelerator like ISU Startup Factory, U of I Venture School, or equivalent. Interested in learning more? Get 30 minutes with the G2M team, or email Hannah hkirkend@iastate.edu.
Global Insurance Accelerator
The GIA’s 2024 hybrid accelerator program applications are now open. The program looks for early-stage (pre-seed to seed) insurtech companies with 1-2 founders looking to accelerate finding product-market fit for innovative solutions to the US insurance industry’s most pressing problems. Startups come from anywhere in the world!
Iowa Innovation in Homelessness Incubator
The Iowa Finance Authority has launched the Iowa Innovation in Homelessness Incubator. The agency is seeking proposals to address homelessness prevention or response. “The goal is to redefine the landscape of homelessness prevention and response systems and rethink how assistance for persons experiencing homelessness in Iowa is delivered,” according to a news release. The winning pitch from Iowa communities and housing leaders will receive up to $100,000 to help implement their idea.
Novy Venture Studio
Novy, a first-of-its-kind venture studio in Iowa, is looking for very early-stage startup ideas to put through ideation this month. If you're a first-time or experienced entrepreneur, innovator, or founder with an idea in healthcare SaaS, share it with the team for evaluation and actionable recommendations. Any ideas chosen for creation will receive up to $2M in investment from Novy across direct capital and dedicated talent.
SCORE’s 60th Anniversary Pitch Competition
The 60th Anniversary Pitch Competition is designed for small business owners who want to improve their presentation and selling skills. Participants will receive valuable insights and guidance from SCORE mentors and industry experts, ensuring they are well-prepared to deliver a compelling pitch for this event and prospective customers and investors.
State Funding Announcements
In April, the Iowa Economic Development Authority announced one Entrepreneurial Investment Award (EIA) program grant:
Innovate120 awarded $200,000 to pilot an “e-accelerator” program based in the coworking space in Maquoketa and Jackson County. The 12-month cohort-based program will guide participants from ideation through product launch and optimization, increasing access to resources for rural Iowans.
In May and July, IEDA announced ten startups to receive innovation awards through the SSBCI funding:
Bovi-Jet awarded $50,000 for the Proof of Commercial Relevance
Incentit awarded $50,000 for the Proof of Commercial Relevance
HUDU awarded $50,000 for the Proof of Commercial Relevance
The Agenda. Period awarded $175,000 for the Demonstration Fund
Stratafolio awarded $100,000 for the Innovation Acceleration Launch Fund
Genvax Technologies awarded $250,000 for the Innovation Acceleration Launch Fund
Coviance awarded $1M for the Innovation Acceleration Expansion Fund
PowerPollen awarded $1M for the Innovation Acceleration Expansion Fund
TractorZoom awarded $1M for the Innovation Acceleration Expansion Fund
Gross-Wen Technologies awarded $500,000 for the Innovation Acceleration Propel Fund
Closed Rounds
💰PowerPollen (Ames, Iowa) closed a $22.5M round led by Liechtenstein Group, an international group of companies and investment platform owned by the Foundation Prince Liechtenstein
💰Rainwalk Pet Insurance raises $4M led by Iowa-based ManchesterStory
💰Shaed AI (Minneapolis & Clear Lake, Iowa) closed a $5M seed round led by EnerTech Capital
💲FUND: The Idea Fund of LaCrosse closed a $31.5M VC fund to invest in startups based in Minnesota, Wisconsin, and Iowa
Mergers & Acquisitions
+ Haber Technologies was acquired by Shivvers Manufacturing to form Shivvers Technology & Innovation Group
On the Horizon: Companies to Watch
Bonzah - Offers a more affordable alternative to car rental insurance purchased at the rental desk
Coltie - social platform and mobile app that intelligently pairs students with resources and critical connections along the graduate education pathway
Hanna Golf - Designs and mills boutique golf putters for the underdog golfers with a relentless pursuit to get better
Resume Sidekick - Elevate your job search with Sidekick’s intelligent resume builder, using an AI-powered tool to create, customize, and optimize resumes
UpStream - Facilitates remote source water monitoring through their platform, Outfall SmartCell, a fully automated system able to withstand all environments for uninterrupted 24/7 communication and data delivery for water quality detection
Upcoming Events
📅 July 30 - CYstarters Demo Day (Ames)
📅 August 6 - Ernst’s Entrepreneur Expo (Ames)
📅 August 8 - Contracting Opportunities for Small Business (DSM)
📅 August 29 - Entrepreneur Field Day: In Harmony Farm (Earlham)
📅 September 4 - Entrepreneur Field Day: Gross-Wen Technologies (Slater)
📅 September 12 - SCORE’s 60th Anniversary Pitch Competition (DSM)
📅 September 24 - Entrepreneur Field Day: PepperHarrow Farm (Winterset)
Have an event to share that would be great for the entrepreneur community to know about? Reach out!
Story + Sound Bites
🔊Notes on Iowa: Iowa’s Environmental History (Startup Stories DSM Podcast)
🔊Nigel Reuel, Founder of Skroot Laboratory (The Innovators Podcast)
🔊The Possible Collapse of the U.S. Home Insurance System (The Daily Podcast, with a spotlight on Iowa)
📚 10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More By Doing Less (Dan Sullivan, Benjamin Hardy)
📚 2024 innovationIowa Magazine (Business Record)
🗞️Design engineer at UI Research Park invents new way to repair corneas (The Gazette)
🗞️Winners announced for in 2024 John Pappajohn Student Entrepreneurial Venture Competition (ISU Pappajohn Center)
🗞️New regional advisory group continues work started in global MIT program (innovationIOWA Magazine)
🗞️Supporting rural entrepreneurs (innovationIOWA Magazine)
Looking for contributors for Startup Iowa Hot List
The Startup Iowa Hot List officially started back in February 2022. Now, with more than two and half years under its belt, I am looking to invite more contributors to help grow the quality of content and geography covered across the state.
If you are interested in being a contributor, writer, source of deal flow, or have a knack for knowing what is happening across the entrepreneurial scene in Iowa, please fill out the interest form below.
This newsletter has always been about creating value for the startup community. If you have any ideas for gaps we aren’t covering or areas we should include in the monthly digest, please reply to this email or share them in the comments below!
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.
The Startup Iowa Hot List is produced by the Greater Des Moines Partnership.
Want to be featured in the next Startup Iowa Hot List? Reach out to Diana at dwright@dsmpartnership.com.