The Iowa Economic Development Authority Board approved grants Friday to two initiatives supporting rural entrepreneurs through the Entrepreneurial Investment Award program.
The program provides financial assistance to service providers that offer technical and financial assistance to entrepreneurs and startup companies.
Hub712, coordinated by Carroll County Growth Partnership, was awarded a $200,000 grant from the EIA program to support startup costs for the first year, including outreach, contract specialists and personnel. The project will provide a centralized space for a variety of business services and resources in the west-central Iowa region, including access resource providers, coworking space, startup business services and a prototype lab.
Morningside University, collaborating with Iowa’s West Coast Initiative, Siouxland Economic Development Corp. and Drake University, created a partnership to support rural entrepreneurial growth in the Siouxland region through technical assistance, education and community-centered mentoring.
Morningside University received a $360,650 grant from the EIA program to be used over two years for personnel, outreach, mentoring and supplies, with year two funding contingent upon year one contract completion.
The program aims to serve socially and economically underserved individuals, immigrant and refugee populations, young entrepreneurs and others who might lack access to the resources and professional networks for success.
Award recommendations for these funds are made by the EIA Review Committee to the IEDA Board for approval.
