BioConnect Iowa receives $1.2 million in federal, local funding

Iowa's public-private economic development partnership to begin bioscience start-up accelerator

U.S. Economic Development Administration logo and banner. (Twitter)
U.S. Economic Development Administration logo and banner. (Twitter)

BioConnect Iowa, the state’s public-private economic development partnership previously known as Iowa Innovation Corp., raised $1.2 million in federal and local funding

A three-year grant from the U.S. Economic Development Administration gave BioConnect Iowa and its partners — VentureNet Iowa and the Iowa State University Startup Factory — $500,000 for the Iowa Go-To-Market program.

The other $700,000 comes from state funding, pro bono services and in-kind contributions.

The program is aimed at providing “ongoing support to bioscience start-ups that have already participated in an accelerator or other structured entrepreneurship development program,” according to a news release. The program’s first session will start in early 2021, according to its website.

“Innovation in the biosciences offers a great opportunity for Iowa,” said Paul Schickler, chairman of BioConnect Iowa’s board of directors, in the release.

“Advances in this area will help Iowa farmers improve operations and will provide high-paying jobs for Iowa residents, including our youth. BioConnect Iowa will play an important role in reaching these goals.”

BioConnect Iowa already manages Iowa’s Small Business Innovation Research and Technology Transfer Outreach Program, which helps entrepreneurs apply for federal funding available for small businesses.

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