Impact on Iowa

Celebrating Iowa's Entrepreneurs

ICIC empowers promising Iowa entrepreneurs, local investors and the commercialization efforts of universities and federal labs by stimulating the growth of the professional seed and venture capital industry that serves the state.

ICIC's vision — to help build a thriving Iowa entrepreneurial ecosystem in which an evergreen, self-sustaining Iowa Fund of Funds and its partner venture funds play an important role — will take many years to complete. Yet the Iowa Fund of Funds is growing and already beginning to impact Iowa's economy.

Of particular note is the leverage effect of Iowa Fund of Funds investing: $12 million in commitments has already mobilized almost $300 million in venture investing capacity among the first three Iowa Fund of Funds portfolio funds.

Recent Program Highlights:

    • In 2007, ICIC participated on the Iowa Business Council Capital Formation Hot Team and helped develop the latest version of www.IowaEntrepreneur.Com, an educational site for Iowa entrepreneurs and investors.
    • A recent investment by ICIC portfolio fund Bayview II in Iowa firm Accu-Mold, Inc. has returned more money to Iowa's economy than has been drawn in capital commitments and startup costs for the entire program.
    • ICIC secured $45m for Iowa from the Federal New Market Tax Credit Program.
    • ICIC hosted a number of venture funds at the 2007 Iowa Venture Capital and Entrepreneur Conference, including Village Ventures, Open Prairie Ventures, Petra Capital, Prolog Ventures, Ardesta Ventures, and OCA Ventures.