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By Jake Slobe. May 6, A central Iowa ag-tech accelerator has secured more backers and finally has a name.
The Greater Des Moines Partnership first announced the accelerator last pwppajohnnaming four initial investors. On Monday, the Partnership said pappajohn new venture business plan competition program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader.
As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said.
One area the the AgriTech Accelerator won't recruit from is biotech. A future, permanent home is still to be decided.
The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the busiess World Food Prize.
The accelerator has also started lining up a mentor pool. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Venthre said the nonprofit model is being used so the accelerator can better work pappajohn new venture business plan competition other nonprofit partners, such as trade associations.
Send him an email at mpatane clayandmilk.]