Dhakai, a Des Moines-based technology company and marketplace that helps connect U.S. clothing brands with ethical and sustainable apparel manufacturers, won first place and $40,000 at the 18th annual John Pappajohn Iowa Entrepreneurial Venture Competition on Aug. 25 in Ames.
“This competition allowed us to showcase our progress, growth, and to polish our business…this check for $40,000 will allow us to extend our runway. We will be able to build newer products, and this funding will propel us forward into the next phase of business,” said Russel Karim, Dhakai’s founder.
Dhakai streamlines the apparel sourcing process by automating design, sampling, quotations, production matchmaking, communication, auditing, approvals, payment processing, production tracking, and logistics on one platform.
13 other teams advanced to the final presentation round from a pool of more than 50 submissions. Classroom Clinic placed second for $25,000 and Enciente Health placed third for $15,000.
“We had a really impressive group overall,” said Judi Eyles, director of the Iowa State University Pappajohn Center for Entrepreneurship. “We normally advance eight companies to the finals, but the quality of the businesses was so significant that we accepted 13 companies into the final round of the competition.”
The John Pappajohn Iowa Entrepreneurial Venture Competition, along with support from the Iowa Economic Development Authority, has invested $1.2 million into participating businesses since 2006.
