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Programs

Nurturing Iowa’s Business Life Cycle

Thousands of companies throughout Iowa are moving through the business life cycle at any given time. Whether it’s a nugget of an idea or a mature business looking for innovation, Iowa Innovation Corporation and its many partners are identifying these businesses and helping them determine where they are within this cycle, then connecting them with resources necessary to succeed. The State of Iowa offers a robust array of support for businesses along this growth continuum, as outlined below.

 

 

Business Life Cycle

Phase

  • Investigation

    The business concept is developed.
  • Feasibility

    The economic feasibility of the business is determined.
  • Development

    The business functions are established and a trial product is marketed.
  • Introduction

    A product is introduced and revenues are generated.
  • Growth

    The business reaches break even profitability.
  • Maturity

    The business is well established in the target market.

Funding & Support Programs

Funding Programs

SBIR/STTR

  • Purpose

    The federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs have $2.6 billion to invest in novel technologies. Each small business is eligible for up to $1.7 million in assistance to develop their innovative concept.

    SBIR/STTR grants span several segments of the funding continuum. You can receive this type of funding for the first three phases of development (Investigation, Feasibility and Development). If your innovative idea falls into one of these categories, you could qualify for this funding:

    • Energy
    • Technology
    • Human and Animal Health
    • Agriculture
    • Transportation
    • Education
    • Defense
    • Rural Development
    • Materials
    • Advanced Manufacturing
    • Electronics/Robotics
  • More Info

    For more info about how to apply for SBIR/STTR funding, contact:

    Jordan Hobfoll
    jordan.hobfoll@iicorp.com
    515-421-4038

Proof of Commercial Relevance

  • Purpose
    Determine if there's a customer and unique value proposition for a demonstrated proof-of-concept. Lean LaunchPad and similar efforts to build team and evidence of Minimum Viable Product (MVP) and select target customer.
  • Max $
    <= $25,000
  • Match
    1:2 (Private:Public)
  • Assistance
    Grant
  • Use of Funds
    Lean LanchPad, mentoring assistance, team assembly
  • More Info

Demonstration Fund

  • Purpose
    Initial Commercialization — is there a market? Alpha or Beta testing and business model refinement software or platform development.
  • Max $
    <= $100,000
  • Match
    1:2 (Private:Public)
  • Assistance
    Grant, royalty or loan
  • Use of Funds
    Prototyping, product development, market research, alpha/beta testing
  • More Info

    See details at Demonstration Fund.

Innovation Acceleration Propel

  • Purpose
    Accelerate the pace of market development for companies that have critical management in place, a validated business model and an established customer base that is generating substantive revenue.
  • Max $
    <= lesser of $300,000 or < 50% of Project Costs
  • Match
    1:1 (Private:Public)
  • Assistance
    Royalty or loan
  • Use of Funds
    Recruit/hire key personnel, expand marketing/sales
  • More Info

Innovation Acceleration Expansion

  • Purpose
    Expansion of product lines in companies with complete management infrastructure, proven historical profitability and with an established customer base. Product refinement, market expansion for unique innovative competitive products.
  • Max $
    <= lesser of $500,000 or < 50% of Project Costs
  • Match
    1:1 (Private:Public)
  • Assistance
    Loan
  • Use of Funds
    Talent, equipment, & construction costs
  • More Info