Cedar Rapids-based nonprofit New Bohemian Innovation Collaborative Inc. (NewBoCo) is expanding to the Quad Cities. In addition, ISA Ventures plans to expand into the Quad Cities region by building a local syndicate network of investors to support regional entrepreneurs.
NewBoCo launched the Iowa Startup Accelerator (ISA) in 2014 that has assisted 67 Iowa businesses by providing entrepreneurs with the knowledge, expertise and more than $6 million in direct investment. In turn, those businesses have gone on to raise almost $100 million in additional venture funding and added hundreds of jobs to the region’s economy. The syndicate network allows NewBoCo to expand its programming and provide seed funding to entrepreneurs in the Quad Cities region.
“Our nonprofit has learned a thing or two over the past eight years as we’ve collaborated with partners to build and run accelerators, investor groups, K-12 computer science programs, adult tech education programs, innovation workshops, entrepreneurial events and more. All of these things work together, as a unique and aggressive economic development strategy,” Aaron Horn, executive director at NewBoCo, stated in a release. “The needs of each region are unique, so it’s critical that we partner with a great local resource like the Quad Cities Chamber to bring new opportunities to the area.”
“We are excited NewBoCo and ISA Ventures are expanding to serve our bi-state region. Venture capital and support for startups have been identified as needs in the QC and we are excited they will be able to fill that gap by providing funding and resources for entrepreneurs here. The Quad Cities Chamber has been in discussions with NewBoCo and ISA Ventures for the last year to help boost our local angel investment network and assist startups in the region,” said Julie Forsythe, the Chamber’s Sr. Vice President of Business and Economic Growth.
Once funded, businesses will participate in the intensive Iowa Startup Accelerator, which provides instruction, mentoring and guidance to help the entrepreneur establish a foundation for scalability or expansion in industries such as ag, health, education, manufacturing and transportation. Participating startups also benefit from access to NewBoCo’s agency support including marketing and design services, software development, web design, social media support, innovation workshops, copywriting and public relations consultation.
Local accredited investors are needed to get the syndicate network launched. Syndicate investors are able to invest in tech-based startups throughout the QC and beyond. To learn more, visit isaventures.com or contact Kevin Bradley, ISA Ventures’ Director of Investor Relations at kevin@isaventures.com
Startups looking to learn more about the resources available should contact Iowa Startup Accelerator Managing Director Alex Taylor at alex@newbo.co or visit newbo.co/entrepreneurship/accelerators
