Iowa State's Startup Factory Network will train ten startups over 52 weeks at ISU Research Park, while another eight businesses will participate remotely from northern Iowa.
Ten startups joined the fifth cohort of Iowa State University’s Startup Factory Network accelerator on Monday, signing up for a 52-week program that will offer access to training seminars, mentoring and events.
The accelerator will take place over two 26-week blocks. In the first portion, startups attend weekly classes at the research park, before commencing a second block that offers co-working space at the ISU Research Park in addition to tailored mentoring and training.
Forty-three participants from previous editions of Startup Factory Network are still in business. Graduates from the scheme have together raised more than $13.9m in venture capital to date.
The latest cohort features life insurance platform Benekiva, infrastructure management technology creator SrisLab, agriculture monitoring device maker EnGeniousAg, automated marketing software developer Fora and education resources provider Paragon Learning Research.
Other participants are smart home security company Arndorfer Industries, big data analytics platform BigData in a Box, smart lighting developer Nova Home Control Technologies, biosensor producer Aptatron and computing products creator WildArc Technology.
Startup Factory Network has also accepted eight startups for the second cohort of an “experimental” auxiliary accelerator in northern Iowa, which offers access to all programming from the Research Park remotely and dedicated assistance from business development advisers.
The pilot is partly funded by a $200,000 grant from the state government-owned Iowa Economic Development Authority aimed at spurring economic growth and generating more businesses.
Startup Factory will run the scheme with the Iowa branch of trade association America’s Small Business Development Centers (SBDC).
Startup Factory Network’s remote cohort includes pet care device maker iPet, psychiatric health services provider Integrated Behavioral Health Services, bale storm processor maker Ezmanufacturing and computer-aided design software developer EZ2Show.
The others are school crisis response program developer Innovative Lockdown Education, seasoning and spice vendor Twisted Brands, fitness platform operator TAG Tech and an unnamed startup creating a factory box which folds out into a bed.