Innovation Acceleration Fund
Innovation Acceleration Fund supports Iowa technology businesses with product development, market research and operational expansion to commercialize innovations and build competitive, profitable companies.
Funder: Iowa Economic Development Authority
Due Dates: Ongoing (Application review) | Bi-monthly (Funding decisions)
Funding Amounts: Launch: up to $250,000 | Propel: up to $500,000 | Innovation Expansion: up to $1,000,000
Summary: Financing for Iowa technology businesses to commercialize innovative products, accelerate market development, leverage private investment and expand operations.
Key Information: Awards are royalty arrangements or secured loans, with a required 1:1 private-to-public match.
Description
The Innovation Acceleration Fund, administered by the Iowa Economic Development Authority (IEDA), supports the formation and growth of technology businesses into competitive, profitable companies that create high-paying jobs. Its three components—Launch, Propel and Innovation Expansion—serve different stages of growth for investment-grade, high-growth enterprises. The fund aims to accelerate market development, leverage private investment and support industrial expansion resulting in significant capital investment.
Supported activities include advanced intellectual property development and evaluation, market and competitive analysis, further development of scientific discoveries, medical device focus group research and software enhancements that extend addressable markets. Financing can also support recruitment and hiring of key personnel, achievement of product economies of scale, expanded marketing and sales activities, equipment purchases and construction costs.
