Cedar Rapids technology startup receives state funding

A Cedar Rapids technology start-up company on Friday was awarded a $100,000 grant from the Iowa Economic Development Authority's Demonstration Fund.

Bandwidth Pool was formally launched this year when founder Ben Anderson, who previously co-founded Iowa-based  X-Wires, was dealing with a poor Internet provider selection he had made years ago. Anderson learned there is an unmet need for businesses to have greater visibility of their Internet provider choices and reputations before entering into a contract.

Bandwidth Pool plans to solve the problem for businesses across the United States by uncovering ‘hidden' Internet providers and giving users more selection. The $100,000 grant will be used by the company to continue development of the company's website and move the site into full production.

The Iowa Economic Development Authority Board also approved tax credit assistance for Blackhawk Engineering of Cedar Falls through the state's High Quality Jobs Program to expand its manufacturing operations by adding another production line.

Blackhawk Engineering, which creates drivetrain-related products used by companies like Deere and Caterpillar, will invest $3.5 million to increase the number and variety of components produced at its plant. The project is expected to create 16 jobs, including four resulting from the state's incentives.