The Iowa Economic Development Authority is giving new businesses funds to move their concepts forward.
IEDA spokesperson Jacque Matsen, says Ames-based Kimle Aquaculture was awarded $100,000 loan for marketing and equipment. “The founders of Kimle sort of recognized we are already good animal stewards and experts of animal husbandry in Iowa — why can we apply those skills to aquaculture — which I think is kind of interesting,” according to Matsen, “and could add some diversification to existing producers across the state. They’re working with another Iowa company Gross Wen Technologies on their water purification and use of their algae. So, it’s kind of nice to see the interesting aspect of potential agriculture — and also the partnership with another Iowa startup that has received previous innovation platform funding.”
Continuum Ag, based in Washington received $25,000 loan to continue its work in using the latest soil testing technologies to tailor recommendations for building soil health and regenerative agricultural practices. Original Appearance Manufacturing (OAM) in Ames helps make precision-molded plastic covers for cars based on computer drawings.
“OAM, what they do is convert the drawings into the tooling that’s used by the manufacturer in the production of the molded plastic covers that fit over the rust-prone areas of automobiles,” according to Matsen. The company is receiving $100,000 loan for equipment and tooling. “It’s a very involved process that uses a coupe of different suppliers along the way that seems like it would be a very high-demand thing for consumers,” Matsen says.
JBI Distributors in Red Oak received a $100,000 loan to personnel and equipment to create specific applicators to better apply disinfectants in barns and facilities to curtail issues associated with bacteria and virus outbreaks, such as salmonella.
GKAT Reclamation in Des Moines was awarded a $250,000 Propel loan from the Iowa Innovation Acceleration Fund for key personnel and facility acquisition/equipment. The company a patent pending, non-thermal, closed loop reclamation process for electronics recycling.
Matsen says this money is important to give businesses early help. “This is really where a lot of exponential growth can come for our economy. So, it’s a really important part of what we do and it often doesn’t get a lot of attention,” she says. Matsen says a the start ups can go on to becoming a major business that got its start with a little help.