DES MOINES, Iowa — Four investors have signed on to support a new startup business accelerator that will further establish Central Iowa’s reputation as a global leader in cutting-edge agriculture technology.
The Greater Des Moines Partnership and the Cultivation Corridor announced that they will form an Ag Tech Accelerator (The Accelerator) with the support of investors DuPont Pioneer, Farmers Mutual Hail Insurance Company, John Deere and Peoples Co.
Each investor company has committed to support the Accelerator in the amount of $100,000 for the first year. The Accelerator is designed to build upon one of the state’s key industries of agriculture and the entrepreneurial activity that can advance technology in the industry.
The Accelerator will be modeled after the Global Insurance Accelerator, which The Partnership launched in 2014. The Global Insurance Accelerator has graduated two classes of six startup companies that are advancing technology in the insurance industry.
The Ag Tech Accelerator will bring that same level of focus to another key industry.
The Accelerator aligns closely with the goals of Iowa’s Cultivation Corridor. Through the work of many community partners the Cultivation Corridor has further established Central Iowa as a destination for agbioscience, agritechnology, biorenewables, plant sciences and advanced manufacturing since its launch in 2014.
There also is an opportunity for four more investors to become involved with The Accelerator. Companies that are interested should contact Mike Colwell, executive director of Entrepreneurial Initiatives at the Greater Des Moines Partnership, at 515-259-0308, or at mike@squareonedsm.com.
