Founding and developing a company is not easy, particularly if you’ve never done it before.
Sometimes dedicated founders with really good ideas can benefit from structured support beyond what is provided by an early-stage accelerator. The Iowa G2M Accelerator program has been established to provide this support for commercial product development and fundraising needs through advanced training in sales, marketing, corporate development and finance.
This program also provides opportunity for startups to access a variety of business support services that can help entrepreneurs achieve commercial success.
It is anticipated the first cohort will be announced by February 13, 2021, with the first session taking place remotely (due to COVID-19 precautions).
The program is a partnership between BioConnect Iowa (formerly called Iowa Innovation Corporation), ISU Startup Factory and VentureNet Iowa, with VentureNet Iowa managing the application and selection process and ISU Startup Factory personnel running the accelerator program.
The program is specifically designed for companies developing technology-driven innovative products or services. It also targets startups that have already received entrepreneurial guidance through a formal program such as an accelerator, other structured entrepreneurship program, or a "Technology & Business Assistance" program provided as part of a federal SBIR or STTR award.
Applications from companies that have not participated in such a program may be considered on a case-by-case basis, but such applicants will need to be able to demonstrate that they have advanced to an equivalent stage as applicants that have participated in a more formal program.
It is expected that applicants will have identified (or be in a position to do so within the next year) potential customers or commercialization partners (possibly involving them in product testing), although other situations may be considered on a case-by-case basis if adequate rationale for the situation and plans is provided.
The application process being run by VentureNet Iowa is modeled after the process they use for evaluating companies for Iowa Economic Development Authority Proof of Commercial Relevance or Demonstration funding.