In March 2003, a vision formed in Curtis Nelson’s mind. He believed entrepreneurial businesses in his home state could achieve much more. They just needed a little help. Twenty years later, the Entrepreneurial Development Center (EDC) has helped over 1,300 companies. From startups to established businesses in any sector, EDC is woven into the fabric […]
Already a subscriber? Log in
Want to Read More?
Get immediate, unlimited access to all subscriber content and much more.
Learn more in our subscriber FAQ.
- Unparalleled business coverage of the Iowa City / Cedar Rapids corridor.
- Immediate access to subscriber-only content on our website.
- 26 issues per year delivered digitally, in print or both.
- Support locally owned and operated journalism.
In March 2003, a vision formed in Curtis Nelson’s mind.
He believed entrepreneurial businesses in his home state could achieve much more. They just needed a little help.
Twenty years later, the Entrepreneurial Development Center (EDC) has helped over 1,300 companies. From startups to established businesses in any sector, EDC is woven into the fabric of Iowa business.
“What separates EDC from other programs, is the ability to cause needed change to occur,” Mr. Nelson wrote in EDC’s 2022 Stakeholder Report.
Written by Eleanor Hildebrandt and Bradley Hohulin.
What is EDC
The business accelerator acts as a one-stop shop for small and midsize enterprises, providing services ranging from broad industry analysis to fine details like creating documents so startups can receive bank loans. The nonprofit sits in the heart of downtown Cedar Rapids at 230 Second St. SE, but works with companies and organizations across the state. Alongside its four-person staff, a 23-member board helps the EDC support clients of all sectors and sizes. EDC Vice President of Marketing Beth Meyer said each individual business receives whatever services they need after an initial meeting with the EDC team to determine what they need to focus on to grow and be successful in the short and long term. “This is not a short term process; we work with most clients for about six to seven years,” she said. “So, we see the impact and see how we can help scale companies whether it’s in starting and launching a company or taking an existing business that’s been around for 20 years and helping them grow and hit their goals. But the real impact we have is on people’s lives.” Over the 20 years the center has been in business, Ms. Meyer said the understanding of entrepreneurship and its impact on Iowa has changed significantly. Some of the entrepreneurs who the EDC has worked with over the years weren’t sure who they could turn to when they needed assistance with building their companies. Ms. Meyer said Iowa is uniquely positioned to handle entrepreneurial interest and growth for a variety of reasons. “There is much more support for (entrepreneurs) now, which is really positive, because more and more people are starting their own businesses,” she said. “The support systems are in place for them more than ever. There’s more venture funding in the state than ever before, more capital improvement grant programs, and more investment from places like the University of Iowa and the John Pappajohn (Entrepreneurial Center).” Some of the businesses the EDC has assisted in recent years include Pear Deck, an educational technology company that was purchased by Go Guardian in 2020 for over $100 million in one of the largest investor returns in Iowa history, and Viewpoint Molecular Targeting, a radiopharmaceutical company that completed a merger in February.Celebrating two decades
With 20 years under its belt, the EDC is hoping to continue its impact on businesses and the communities they serve across Iowa for decades to come. “As we celebrate the Entrepreneurial Development Center’s 20th anniversary, it is a moment to reflect on the immense strides taken, the challenges overcome, and the countless success stories," Ms. Meyer said. “The EDC’s legacy is not merely in the numbers it has generated — revenue growth of over $3.3 billion, payroll growth of over $851 million, and capital raised and employed of over $826 million — but in the lives transformed, dreams realized, and communities empowered.” The organization is revamping its website to continue to streamline entrepreneurs’ experience with the EDC. Ms. Meyer said there will be a open house in September for clients and EDC stakeholders to celebrate the milestone. In the meantime, Ms. Meyer said the EDC is continuing to lead the way for the next generation of Iowa entrepreneurs and visionaries. “We exist to really provide counsel and advice and guidance for the entrepreneurial community in Iowa, and we are going to continue to,” she said. “Our biggest impact is their biggest impact that these businesses are having in whatever space or industry they reside. We continue to adapt and innovate, collaborate and never lose sight of what the organization was started to ultimately have an impact on the entrepreneurial community and help the community be successful.”Written by Eleanor Hildebrandt and Bradley Hohulin.
