5 startups receive more than $1.5 million in loans from SSBCI program The Iowa Economic Development Authority awards funding to startups in the form of low-interest loans through its Innovation Continuum, which includes five funds that are designed to offer companies non-dilutive funding at every stage of business growth. The funds are: Proof of Commercial Relevance (POCR), Demonstration Fund and the Innovation Acceleration Fund, which offers Launch, Propel and Innovation Expansion
State Small Business Credit Initiative
July 25, 2024
5 Iowa startups approved for SSBCI funding
The Iowa Economic Development Authority Board recently approved awards to five Iowa startups from Iowa’s State Small Business and Credit Initiative Innovation Fund. Awards approved by the IEDA board on Friday were: Genvax Technologies, an animal vaccine company based in Ames, has developed proprietary next-generation RNA and nanoparticle vaccines. Its first product will be a vaccine for swine influenza, with technology that can be used to develop herd-specific vaccines. The
May 2, 2024
Funding recap: IEDA awards $1.6 million to startups in first quarter of 2024
The Iowa Economic Development Authority awards funding to startups in the form of low-interest loans through its Innovation Continuum, which includes five funds that are designed to offer companies nondilutive funding at every stage of business growth. The funds are: Proof of Commercial Relevance (POCR), Demonstration Fund and the Innovation Acceleration Fund, which offers Launch, Propel and Innovation Expansion awards. These financing options are geared toward companies operating in the fields
April 13, 2023
IEDA approves innovation funding to three Iowa startups
The Iowa Economic Development Authority announced Monday innovation funding for three startups through Iowa’s State Small Business Credit Initiative. The Innovation Fund was created as part of the initiative to offer additional funding opportunities to assist entrepreneurs through concept, launch and expansion. Nebullam Inc., based in Ames, received a $250,000 Innovation Acceleration Launch Fund loan for key personnel. The company offers a full-service subscription opportunity selling produce directly to consumers.
January 26, 2023
How can $96 million affect innovation, access to funding in Iowa?
2023 will bring Iowa’s innovation stakeholders some of the first opportunities to see the infusion of $96 million from the U.S. Treasury Department’s State Small Business Credit Initiative in action. Announced in October 2022, the funding is distributed across four new programs, each taking a different angle on increasing funding access. Anna Lensing, innovation team project manager at the Iowa Economic Development Authority, said in an email that the state agency zeroed in
October 13, 2022
Iowa receives $96M federal investment for entrepreneurship, small business
The Iowa Economic Development Authority announced Wednesday a $96 million investment to support small businesses and entrepreneurs in Iowa. The U.S. Treasury Department approved the funding to Iowa Tuesday through its State Small Business Credit Initiative (SSBCI). The American Rescue Plan Act reauthorized and expanded the SSBCI, providing nearly $10 billion to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities. The Treasury Department approved Iowa’s amount based on a plan
