IEDA Awards Funding to Four Iowa Startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding for four local Iowa startups. This funding totals $275,000. They also approved awards for the established company, Ag Processing Inc. which should result in $71.1 million in new capital investment for the state.
Mazen Animal Health develops oral animal vaccines to prevent animal disease. These vaccines are edible, formulated to be dosed with feed in order to simplify the animal vaccination process and provide a cost-effective, room-temperature option for animal vaccines.
The company was awarded $125,000 from a Demonstration Fund loan for IP development and evaluation and will also contribute to marketing planning, entry activities, staff costs and more.
NanoSpy produces biosensors for rapid detection of Salmonella in food processing facilities. This detection method aims to reduce the economic impact of foodborne illness. Current processes require a two-day period before lab results are finalized. NanoSpy’s technology should allow for near real-time decisions.
They were awarded a $25,000 Proof of Commercial Relevance (POCR) loan.
Townhall, LLC
This EdTech software development company is focused on creating desktop-based apps to improve video conferencing. Their goals are to increase engagement during large remote meetings regardless of platform and will achieve this through gamification and instant feedback.
Townhall received a $25,000 POCR loan.
Starting from a family’s secret hot sauce recipe, Lola’s Fine Sauces has expanded to seven sauces, five salsas, a seasoning mix, and a Bloody mary mix. They have engaged in constant formulation and testing to reach the point of selling products in more than 10,000 stores nationwide.
The company was awarded a $100,000 Demonstration Fund loan to refine their product and further their commercialization.
Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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