The Iowa Economic Development Authority (IEDA) announced innovation funding for three startups through Iowa’s State Small Business Credit Initiative (SSBCI). The companies are located in Ames, Iowa City and Washington.
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.
Three startups approved for Innovation Funds
Based in Ames, Nebullam Inc. offers a full-service subscription opportunity selling produce directly to consumers. Their vertically integrated indoor farms grow a variety of produce for sale via their online platform with fresh local delivery. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel.
Iowa City’s SmartScripts Holdings, LLC is a data provider focused on patient outcome solutions. Their platform facilitates distribution between pharmaceutical manufacturers and patients to help lower costs. The company was awarded a $1,000,000 Innovation Acceleration Expansion Fund loan for product refinement, key personnel, equipment and software development.
Continuum Ag, based in Washington, provides farmers with a digital roadmap for soil health success. TopSoil, their proprietary software, helps farmers profit from the regenerative practices they implement on their farms. The company received a $250,000 Innovation Acceleration Launch Fund loan for key personnel and IP development and evaluation.
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 April 4, 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