Iowa Startup Accelerator
Portfolio & Results

Portfolio Overview | Funding | Company Details

0
Portfolio Companies
$0.25
Million in Funding Raised
0
Teams in the 2017 Fall Batch

Overall Portfolio Status

 Updated 11/09/17

Status Number of Companies Percentage
Active 19 59%
Failed 13 41%
Acquired/Exited 0 0%
Total 32 100%

Notes about portfolio status:
Because the ISA program is young (the first cohort started 8/4/2014) the number of active companies is very high. Of course, we’d love to have the number of active companies stay high, and we do everything we can to help our founders build their companies. Despite our reputation here of being “Iowa nice”, a key part of our role is to accelerate world-changing ideas and ensure that dead-end ideas fail fast. Those founders could then start another company, battle-tested and wiser, the second time around.

Funding

Notes about funding:
Funding in the Midwest is different than on the coasts. Each dollar raised goes a lot further due to a lower cost of living (Cedar Rapids, for example, is often cited as a highly affordable small city.)

Midwestern startups also tend to focus on bootstrapping for longer periods of time before raising capital, whenever possible. Often, investors prefer startups to demonstrate positive revenue growth before investing as well, as they tend to be more conservative and risk-averse. We see this as a good compromise overall: startups have to work hard to actually produce a product people will buy before they raise money.

In addition, when outside capital is raised, the funding mix is different, with many startups raising money through a variety of programs designed to support them, such as the Proof of Commercial Relevance program, the Demonstration Fund, and the Innovation Acceleration program. Often, startups with positive revenue growth also qualify for attractive debt financing that prevents dilution for the entrepreneur.

In short, Iowa is a fantastic place to grow a business, and high quality startups can successfully raise money here to support growth and scale.

Company Details

2014 Cohort

Company (Original Location) Status Current Location FTES*
Apartment Ocean (previously ClikHome) (New York, NY) Active Cedar Rapids, IA 3
HowFactory (Cedar Falls, IA) Active Cedar Falls, IA 4
KidsCalendar (Lawrence, KS) Active Lincoln, NE 1
LendEDU (Hockessin, DE) Active Hoboken, NJ 9
Vinveli (Austin, TX) Active Austin, TX 1
Punctil (Palo Alto, CA) Active Fairfield, IA 1
Sift (Iowa City, IA) Failed N/A 0
SwarmBuild (Tel Aviv, Israel) Failed N/A 0
VenueFox (Des Moines, IA) Failed N/A 0
ProduceRun (Melbourne, Australia) Failed N/A 0
      19

* Full Time Employees, including founders

Notes about the 2014 Cohort

Our inaugural cohort in 2014 consisted of 10 teams from around the world. Most were very early stage, pre-revenue startups when they arrived. All of them adjusted business models during the program. Going into 2017, we expect to see at least one company exceed $3M in revenue.


2014 Launch Day Videos

2015 Cohort

Company (Original Location) Status Current Location FTES*
CareAcademy (Boston, MA) Active Boston, MA 3
CareDrop (Cedar Rapids, IA) Failed N/A 0
EarMashin (Los Angeles, CA) Failed N/A 0
Goquets (Des Moines, IA) Failed N/A 0
Stratbase (Iowa City, IA) Failed N/A 0
SwineTech (New Sharon, IA) Active Cedar Rapids, IA 9
TaxiTapp (Champaign, IL) Active Champaign, IL 5
GolfRz (Des Moines, IA) Failed N/A 0
HomeScenePro (New York City, NY) Failed N/A 0
      17

* Full Time Employees, including founders

Notes about the 2015 Cohort
Almost two years have passed since the 2015 Cohort graduated from ISA, and 3 of the 9 teams are still active. SwineTech has won numerous pitch and business plan competitions while field testing their product, and completed a $1.24 million preferred series A financing. CareAcademy finished a $1.9 million raise in 2017.


2015 Launch Day Videos

2016 Cohort

Company (Original Location) Status Current Location FTES*
Stratafolio (formerly AssetRover) (Cedar Rapids, IA) Active Cedar Rapids, IA 2
Girls With Ideas (Cedar Rapids, IA) Active Cedar Rapids, IA 2
Hang (Des Moines, IA) Failed N/A 0
Soteria Bicycles (Cedar Rapids, IA) Failed N/A 0
Streamweaver (Des Moines, IA) Failed N/A 0
Written Apparel (Cedar Rapids, IA) Active Cedar Rapids, IA 1
      5

* Full Time Employees, including founders

Notes about the 2016 Cohort
We started the cohort with 3 of the 6 teams being led by female founders. Today, 3 of the 6 are still active, all led by women. These teams are generating revenue and we continue to work with all of the teams post program as part of our commitment to helping these companies thrive in Iowa and scale their companies.


2016 Launch Day Videos

2017 Cohort

Company (Original Location) Batch Status Current Location FTES*
Global Healthcare Integrators (GHI) (Reston, VA) Spring Active Reston, VA 2
Agro Connected (Center Point, IA) Summer Active Cedar Rapids, IA 4
Cargofy (Kiev, Ukraine) Summer Active Cedar Rapids, IA 4
GOVRED Technologies (Battle Creek, MI) Summer Active Cedar Rapids, IA 2
Noviqu (Moberly, MO) Fall Active Cedar Rapids, IA 3
Funeral Direct (New York City, NY) Fall Active Cedar Rapids, IA 2
Smart Scripts (Washington, IA) Fall Active Washington, IA 8
        25

* Full Time Employees, including founders

Notes about the 2017 Cohort
ISA restructured in 2017 to offer three distinct batches in Spring, Summer and Fall. Each batch featured an intense Orientation Week that introduced them to the extensive resources in the community, Agile and customer development training, and designing the strategy and culture of their organization. The redesign of the program also focused on the idea that the first 90 days will remain intensive, but will also be an understanding that joining the ISA portfolio is a long term commitment and required an explicit understanding that ISA staff and the NewBoCo organization expects to work with them beyond the initial 90 days of weekly programming.

Get Your Ticket to Launch Day 2017!