The Iowa Economic Development Authority (IEDA) announced innovation funding for four startups through Iowa’s State Small Business Credit Initiative (SSBCI). The companies are located in Ames, Des Moines and Solon.
The SSBCI program invests in Iowa’s small businesses through federal assistance targeted at expanding access to capital that supports growth. The Innovation Fund, one of four areas established under the initiative, increases funding opportunities across Iowa’s innovation continuum to assist entrepreneurs through concept, launch and expansion.
Four startups approved for Innovation Funds
Ames-based Distynct, Inc. provides a remote monitoring system that deploys reliable internet connectivity to rural areas and sensors that collect critical barn data to support precision livestock farming. The Distynct Smart Alarm, powered by the Connectivity Engine, replaces inefficient, antiquated alarm systems, decreasing labor time and costs and increasing safety and protection. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel and product refinement.
Headquartered in Ames, Haber Technologies, Inc. develops products through their Ag-Automations platform to help farmers dry, store and manage grain. Powered by proprietary technology, their products include the DRI-Stack system for in-bin drying, conditioning and monitoring and the Auto-Bin system for monitoring and managing bin fans. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel and market planning and entry activities.
A global provider of Software-as-a-Service (SaaS) applications in Des Moines, Pitchly, Inc. offers customers the ability to access, search, edit and share data to fellow employees and connect the data to common work tasks. The software can significantly save employee time by generating reports with the most current version of data. The company was awarded a $1 million Innovation Acceleration Expansion Fund loan for key personnel and product refinement.
SwineTech, based in Solon, offers software and services for pork producers to improve operational efficiencies, employee engagement and pig care. PigFlow, their workforce management and point-of-care platform, accomplishes that by improving communication and organization while streamlining daily workflows and reinforcing compliance. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel, product refinement and market planning and entry activities.
Award recommendations for the SSBCI innovation funding are made by the SSBCI Review Committee to the IEDA executive director for approval. The committee met on May 16, 2023, to review eligible applications. Additional information on application process, deadlines and eligibility can be found at iowaeda.com/innovate.
For more information contact:
Ms. Kanan Kappelman