The Iowa Economic Development Authority (IEDA) recently awarded $550,000 in innovation funding to six startup companies, including Inseer, Inc. and UpStream, two Johnson County-based companies.
On Jan. 19, the Technology Commercialization Committee (TCC) awarded Iowa City-based Inseer, Inc. $250,000 for the Innovation Acceleration Launch Fund, and North Liberty-based UpStream a $50,000 Proof of Commercial Relevance (POCR) loan.
The Innovation Acceleration Launch fund promotes the formation and growth of companies that successfully convey technology to competitive, profitable companies that create high-paying jobs. LAUNCH awards a maximum of $250,000 to help revenue generating companies overcome the principal challenges of scaling and move from a commercially viable product to an established customer base.
Inseer, recipient of the LAUNCH fund, is a technology company based in Iowa City that uses sensor-less ergonomic-focused worker injury analysis by using AI to interpret video footage, with the aim of preventing work-place injuries and increasing productivity in manufacturing environments. The company will use award funds for IP development and evaluation.
“It will have a very positive impact in allowing us to continue developing new products and continuing to employ people in Iowa,” said Shane Larson, CEO of Inseer, of the award.
Speaking of developments at work at Inseer, Mr. Larson said, “We are converting body movement to math, and we’re applying ergonomics thresholds against that. And so we are developing new modules to our existing platform that will make the solution more robust. By example, we are going to be the first in the industry with a hand module that is designed to help reduce carpal tunnel injuries as an exam.”
North Liberty UpStream
A second Johnson-County company, UpStream, headquartered in North Liberty, launched technology to enable remote source water monitoring. Their platform, the Outfall SmartCell, is a fully automated system able to resist all environments for uninterrupted 24/7 communication and data delivery for water quality detection. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, proof of concept work and product refinement.
The POCR loan is designed to define and articulate the opportunity for businesses that demonstrate a proof-of-concept for innovative technology.
Other start-ups that received awards include:
- Rise Energy, an Ames-based energy advisory company that received a $50,000 POCR loan for IP development and evaluation, market and competitive analysis, market planning and entry activities, and key personnel.
- PicklePlay, located in Cedar Falls, is a digital platform designed to connect pickleball players with courts, clubs and tournaments. PicklePlay was awarded a $50,000 POCR loan for IP development and evaluation, market planning, entry activities and key personnel.
- Tumbleweed, based in Des Moines, is a technology platform that supports end-of-life and post-loss planning, and was awarded a $50,000 POCR loan for IP development and evaluation, market and competitive analysis, proof of concept work, product refinement, market planning and entry activities, key personnel and equipment.
- Spanton Board Inc., headquartered in Fairfield, created the first patent-pending, power-driven spine board to effectively safeguard athletes following a serious injury and was awarded a $100,000 Demonstration Fund loan for product refinement, market planning and entry activities, and key personnel.
