IEDA Board approves grants for UI biomanufacturing facility, other Corridor projects

Iowa Economic Development Authority

The Iowa Economic Development Authority (IEDA) Board has approved awards for two manufacturers, two startups and two community development projects. Four of the recipients are located in the Corridor.

CAT grant awarded to two projects

Community Theatre of Cedar Rapids, also known as Theatre Cedar Rapids, was awarded $500,000 through the CAT program for their Dream Here, Do Here project, which focuses on the renovation of the historic building’s upper stories to accommodate additional classroom and rehearsal space. The theatre has been a regional arts attraction since 1925 and anticipates increasing the number of visitors by 45% annually with this project.

Outside the Corridor, the City of Le Grand was awarded $44,750 to make park improvements.

The CAT program provides financial assistance to communities for the construction of recreational, cultural, educational or entertainment facilities that enhance the quality of life in Iowa. Award recommendations for these funds are made by the CAT Review Committee to the IEDA Board for approval.

Awards made to two startups

Coralville’s Reality Wave, LLC utilizes AI technology to provide objective evaluations of academic manuscripts and grant proposals. ReviewerAI, their flagship product, ensures scholarly articles meet high quality standards in a timely manner. The company was awarded a $50,000 Proof of Commercial Relevance loan for key personnel and market analysis.

Outside the Corridor, Des Moines-based Tumbleweed Vida, Inc. was awarded a $100,000 Demonstration Fund loan for product refinement, key personnel and market planning and entry activities.

Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval, according to a news release.

UI Center for Biocatalysis and Bioprocessing approved for Strategic Infrastructure Program grant

The Center for Biocatalysis and Bioprocessing (CBB) at the University of Iowa was awarded a grant of just over $1 million through the Strategic Infrastructure Grant program to expand the existing biomanufacturing infrastructure in the state by doubling the pilot-scale fermentation capacity with the acquisition and installation of a second fermentor. The assets, technologies and infrastructure will be made available to industrial, governmental and academic partners to scale contracted bioprocessing services. The increased demand will support high quality jobs and bolster student training and exposure to the industry.

The Strategic Infrastructure Program supports projects that develop commonly utilized assets with the goal of providing a competitive advantage to one or more private sector entities or that create necessary physical infrastructure in the state, and such projects are not adequately provided by the public or private sectors. Award recommendations for these funds are made by an internal and external review committee and presented to the IEDA Board for approval, according to the release.

SSBCI Innovation Fund award made to rural startup

Continuum Ag, Inc., based in Washington, offers advanced software solutions that enable large-scale adoption of regenerative and climate smart practices. Regen Roadmap, their premier product, is delivered through their proprietary TopSoil platform to provide farmers with custom, data-driven recommendations to improve profitability through enhanced soil health. The company was awarded a $500,000 Innovation Acceleration Propel Fund loan for IP development and evaluation, product refinement, key personnel and market planning and entry activities.

The SSBCI program’s Innovation Fund increases assistance available through Iowa’s innovation continuum to support entrepreneurs through concept, launch and expansion. Award recommendations for these funds are made by the SSBCI Review Committee to the IEDA director for approval.

See a full list of recipients here at www.iowaeda.com/iowa-news/ieda-jan2025.