Funding supports innovation in agtech, medical devices, critical minerals recycling, artificial intelligence, and advanced software platforms
DES MOINES, Iowa (January 16, 2026) — The Iowa Economic Development Authority (IEDA) Board today approved financial assistance for six startup companies located in Ames, Ankeny, Boone, and Des Moines, supporting innovation, commercialization, and early-stage growth across multiple high-impact sectors.
The awards, made through IEDA’s Proof of Commercial Relevance and Demonstration Fund programs, are designed to help emerging companies advance product development, expand market readiness, and accelerate time to commercialization.
Advancing Agricultural Innovation
Hermes Biomaterials, Inc., based in Ames, develops advanced tools to help researchers produce stronger, higher-yielding crops. The company’s flagship FGB device enables precise delivery of genetic material into plant cells. Hermes received a $50,000 Proof of Commercial Relevance loan to support staffing, laboratory equipment, and supplies for soybean research and testing, enabling expanded in-house R&D and faster product development.
Supporting Healthcare and Medical Device Commercialization
Koos Medical Innovations, Inc. of Ankeny has developed a disposable isolation gown designed to reduce the spread of infectious germs in healthcare settings. Featuring a patented design that meets FDA performance standards, the gown provides enhanced protection against fluid exposure for patients and providers. Koos received a $100,000 Demonstration Fund loan to support commercialization and early market entry.
Strengthening Domestic Critical Materials Supply Chains
Headquartered in Boone, Critical Materials Recycling, Inc. specializes in recycling rare earth elements used in defense, clean energy, and advanced technologies. The company’s patented, acid-free process recovers high-purity rare earth oxides from sources such as hard disk drives, wind turbine magnets, electric vehicle motors, and consumer electronics—reducing emissions, electronic waste, and reliance on foreign mining. The company received a $100,000 Demonstration Fund loan to hire a chief commercial officer and refresh its branding.
Leveraging Artificial Intelligence for Business Growth
Broker Hero, LLC, doing business as Broker Hero AI, is a Des Moines–based software-as-a-service company serving merger and acquisition professionals and business brokers in the small- to lower middle-market space. Its AI-powered platform automates prospecting and identifies off-market opportunities through intent-based targeting. Broker Hero received a $50,000 Proof of Commercial Relevance loan to refine its product, support key personnel, and expand its market presence.
Also based in Des Moines, Morrigan Company, operating as MorriganAI, develops software that helps organizations understand and manage how artificial intelligence is being used across their workforce and systems. The platform identifies unapproved or hidden AI usage that can pose data security, compliance, and productivity risks. MorriganAI received a $50,000 Proof of Commercial Relevance loan to support market analysis, product refinement, market entry planning, and staffing.
Innovating Home Furnishings and Design Technology
Renewabl Furniture, Inc., doing business as Renewabl App, is a Des Moines–based SaaS company using artificial intelligence to help home furnishings professionals and consumers create realistic visualizations of custom furniture and décor. Users can upload photos or sketches and apply fabrics, finishes, hardware, and other design elements. The company received a $50,000 Proof of Commercial Relevance loan to refine its platform, hire key personnel, and support its commercial launch.
Through these targeted investments, IEDA continues to support Iowa’s growing innovation economy by helping startups transform ideas into scalable businesses that drive job creation, technology advancement, and long-term economic growth.
Media Contact:
Kanan Kappelman
Iowa Economic Development Authority
515-348-6248
communications@iowaeda.com
