Friday, January 17 2020
Des Moines, IA -- The Iowa Economic Development Authority (IEDA) Board approved awards for one legacy company in Fort Madison, which will assist in the creation of 91 jobs and result in nearly $32 million in new capital investment for the state. The board also approved innovation funding in support of startups located in Ames, Iowa City, West Des Moines and West Liberty.
Manufacturer expands production in Fort Madison
Awards made to four startups
Iowa City’s Malum, Inc. delivers a broad array of artificial intelligence-derived tools that range from keeping individuals safe from physical harm to optimizing their performance. The company was awarded a $100,000 loan from the Demonstration Fund for equipment and key personnel.
Virtual Insurance Tools, based in West Des Moines, helps independent insurance agents, agencies, banks, broker dealers and brokerage firms grow new life insurance revenue. The company was awarded a $100,000 loan from the Demonstration Fund for product refinement, market planning and market entry activities and key personnel.
West Liberty-based Skilled Day creates software that allows providers and patients in skilled facilities access to their schedules. The software reduces waste and removes conflicts by allowing staff to schedule their time efficiently, while giving patients clarity about their schedule, leading to a more enjoyable and productive stay. The company was awarded a $25,000 POCR loan for product refinement and market planning and market entry activities.
Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.
Download a spreadsheet with today's awards iowaeconomicdevelopment.com/UserDocs/news/jan20awards.pdf