Iowa State University Startup Factory announces its sixth cohort, program successes to-date

The following article was initially published on Jan. 22, 2019 via ISU Startup Factory.

IMG_4294AMES, Iowa (January 22, 2019) – The Iowa State University Startup Factory today announced its sixth cohort of entrepreneurs entering the Iowa State-based program. Twelve teams joined the program, starting with an evening kick-off reception held Thursday evening at the ISU Alumni Center, followed by a full day of programming Friday at the Startup Factory’s space at the Iowa State University Research Park.

The ISU Startup Factory is a 52-week intensive program that provides an avenue for students, faculty, staff and community members to create technology-based, platform businesses. Entrepreneurs in the program receive formal training, resources, and access to a network of business mentors, advisors, counselors, and investors in two 26-week blocks: the first a formal curriculum centered on business validation, and the second, customized to their individual business needs.

“The Startup Factory is an important part of an ecosystem we are developing specifically to support entrepreneurs at Iowa State,” Interim Vice President for Economic Development and Business Engagement David Spalding said. “At Iowa State, our focus for economic development is on the entire state, and we are proud of the tremendous impacts we have on the state economy.”

Spalding said the Startup Factory program is seeing signs of real traction.

“Since the inaugural cohort’s launch in June 2016, more than 90 companies have been accepted into the program, 77 of which are still in business, and those that have graduated are already responsible for the creation of 70 jobs,” Spalding said. “Since we started the program, our companies have attracted more than $20 million in venture financing including: nine SBIR Phase 1 Awards, four SBIR Phase 2 Awards, 14 fundings from the State venture funding programs, 15 angel financing rounds and six institutional funding rounds.”

Spalding also recognized the accomplishments of cohort members who have reached “Two-Comma Club” status.

“Two-Comma Club represents those startups in our program that have reached over a $1 million valuation,” he said. “We have 9 startups that have reached this significant milestone.”

Spalding said much of the credit for the program’s successes to-date are due, in part, to the program’s leadership and diverse partner network.

“Together with the Startup Factory’s network of mentors, partners, investors and founders, we’re excited to support the next cohort of entrepreneurs on their startup journey,” he said.

For more information on mentoring, advising, and investment opportunities with the ISU Startup Factory, please email adoyle@iastate.edu or visit www.isustartupfactory.org

The following are the names of the participating startups in the sixth cohort:

3D Health Solutions, Inc. - Founded by Karin Allenspach, Albert E. Jergens and Jonathan P. Mochel, is a 3-dimensional intestinal organoid assays for drug testing to improve predication of pre-clinical bioavailability tests.

Auchus Outdoors - Founded by Richard J. Auchus, creates compact, minimalistic camping units for adventurous outdoor enthusiasts.

Gym-N-Eat Crickets LLC - Founded by Shelby Smith, is a producer of high protein, whole-food convenience foods from farm-raised crickets for human consumption.

HomePainter – Founded by Jacob McClarnon and Anthony House, is an online platform developed to revolutionize the residential painting experience.

IdRamp – Founded by Mike Vesey, is a farm-to-market security and information platform for quality assurance and transparency across diverse agriculture value chains.

InkFlex Devices - Founded by Metin Uz and Surya Mallapragada, has developed 2D and 3D, high resolution circuits on rigid and flexible substrates, using cost-effective and green processes for a variety of electronic applications.

Kimle Aquaculture - Founded by Jackson Kimle and Matthew Ellis, produces algae-based recirculating aquaculture systems.

Sublime Stericeuticals Corporation - Founded by Shawn Stimson and Joel Lennon-Meyer, uses a novel, highly efficient process in the manufacture and packaging of freeze-dried drug products.

Tres Mentes Gourmet Foods Inc. - Founded by Phillip Campos and Angelo Campos, is creating the gold standard of salsa.

UAnalytics – Founded by Shafqat Ali Shad and Ali Jannesari, is developing embedded AI driven UAVs to execute business operations in the mining industry.

Vectr Bio - Founded by Erik Dunteman, is a data platform for cannabis breeding.

YieldLogic LLC – Founded by Priyank Pradeep and Marc Brittain, uses remote sensing and machine learning to help farmers, co-ops and companies proactively identify soil and crop health status such as deficiencies and diseases.

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About ISU Startup Factory:

The Iowa State University (ISU) Startup Factory is a 52-week intensive program housed at the ISU Research Park (ISURP). Entrepreneurs in the Startup Factory receive formal training, resources, and access to a network of business mentors, advisors, counselors, and investors in two 26-week blocks: the first a formal curriculum centered on business validation, and the second, customized to their individual business needs. For more information on the ISU Startup Factory program, call 515-294-7444 or visit isustartupfactory.org

About ISU Research Park:

Establish in 1987, The Iowa State University Research Park (ISURP) is a real estate development community closely affiliated with Iowa State University. ISURP assists both established and startup companies in connecting with Iowa State’s vast infrastructure to grow their enterprises; whether through students, research entities, equipment or a multitude of other resources. ISURP is currently home to 87 companies and research centers and 11 affiliates, employing 2,155 and 135 people, respectively, and occupies approximately 800,000 square feet of commercial real estate on 400 acres. ISURP recently expanded and now boasts 400 acres of developable space, which will include tenant amenities, a park and multi-use trails. For more information on ISURP, call 515.296.4204 or visit isupark.org.

Contact: Julie Lelonek

Office of Economic Development and Industry Relations

515-294-1562/jlelonek@iastate.edu

 

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