2024 InnoVenture Challenge Application

2024 InnoVenture Challenge Application

Accelerate your growth - apply today!
InnoVenture Iowa invites the best and brightest early-stage entrepreneurs to participate in the third annual InnoVenture Challenge, a pitch competition that will bring together three (3) semi-finalists to compete on-stage for a $100,000 non-dilutive award.

This competition is designed to catapult small startups into the launch or growth phase of their business.

We are seeking to fund high-growth startups in advanced manufacturing, biosciences or information technology. Eligible companies must demonstrate an innovative approach and a clear path for scalable growth. Preference will be given to those companies with a commitment to building right here in Iowa.

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Eligibility Requirements

Competition entrants must meet the following criteria:
- Your startup company must be based in Iowa, and/or have "significant operations" in Iowa.
- Your startup is early-stage.*
- Your startup has not received prior funding from InnoVenture Iowa, nor has your startup been a previous winner of this competition.
Previous applicants are strongly encouraged to apply again.

A startup is early-stage if it meets any or all of the following criteria:
- The company can demonstrate a proof of concept.
- The company has a functional prototype.
- The company has some/any top-line revenue (e.g. paying customers).
- The company has active free users or beta testers.
- The company has established strategic partnerships for launch.
- The company has a well-defined go-to-market strategy.
If you are unsure if your company is a fit for this competition, please contact us at challenge@innoventureiowa.com to verify eligibility prior to submitting an application.

*We welcome applicants from across Iowa covering a number of industries, but we are not looking for long-standing organizations or mid- to late-stage startup companies seeking new funding. Preference will be given to innovative projects.

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Application Process
- Applications close 5.00pm CT on September 30, 2024.
- Complete this application as thoroughly and accurately as possible. Keep answers to 500 words or less. Any inaccurate information of a significant nature may disqualify the application.
- Complete all questions on the application. Unanswered/blank fields will disqualify the application.
- Product screenshots, images, or video demonstrations are optional and can be attached separately at the end of the application.
- We recommend you prepare your answers offline first, before starting this digital application and complete the application in one sitting.
- Only complete, signed and submitted applications will constitute a valid entry.
- You will be notified on/by October 25 if your startup has been selected as a top-10 semi-finalist and invited to participate in an interview round in-person in Des Moines on November 4th or November 5th. This interview round cannot be done remotely.
- The top 10 semi-finalists will be invited to present at an exclusive showcase with venture capitalists from throughout the midwest, on December 4, and participate in VC breakfast meetings on December 5.
- The top 3 finalists will be announced on November 14 and will be invited to present at the live InnoVenture Challenge pitch competition in Des Moines, Iowa, on December 5, 2024.
- Our event judges will award one company a $100,000 cash prize.
InnoVenture Iowa acknowledges the sensitive nature of some of the information you disclose on this application and information provided will be used solely for evaluating your entry into the Challenge. Applicants should recognize, however, that this application does not represent a Non-Disclosure or Confidentiality Agreement. If you have questions or would like to discuss this, please contact us at challenge@innoventureiowa.com

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Application Preview

The full list of questions in this year's application form is available here as an editable Word doc.
Please confirm you've reviewed the above information before clicking Next.*

I have read the Eligibility Requirements and Application Process

Applicant Information

Please complete the fields below to get started.
Name*

First NameLast Name
Phone Number*
Please enter a valid phone number.
Email*
example@example.com
Company Name*
Company Website*
Company Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Eligibility Info

Must be an Iowa-based, early-stage start up to qualify.
Is your business based in Iowa*
What year was your business founded?*

Business Overview

Tell us about your startup.
Business Structure*
Brief summary of your business:*

0/500
What is the product or service?*

0/500
What core problem does your product or service solve?*

0/500
Does your company impact Iowa, the nation or the world in any meaningful way? How?*

Consider potential social benefits of company's success.0/500
Describe your revenue model. Include pricing structure/rationale and cost of products or services:*

0/500
Current Status

Your company's current state of operations.
Do you currently have paying customers?*
Do you currently have any non-paying customers (free users)?*
What was your gross revenue in CY 2023?*
Go-to-Market Strategy:*

How do you plan to either (a) go to market with your product/service or (b) strategically expand distribution or awareness of your product/service (develop early-stage traction).0/500

Market Analysis

Let's talk growth potential.
Describe your target customer:*

0/500
What is the size of your target market?*

0/500
Who are your competitors? List at least three (3).*

0/500
How do you differentiate your product/service? What makes you special?*

0/500

Other Funding Sources

If you have them, tell us about your previous backers or resource providers.
Have you ever participated in an accelerator program for this business?*
If yes, please list all accelerator programs and the year(s) you participated:
Have you ever received venture funding for this business?*
How much did you raise?
Have you received federal or state funding for this business?*
How much funding did you receive and in what year?
Have you ever created a successful crowd funding campaign for this business?*
If yes, what year did you run the campaign and how much did you raise?

Personnel Information

Tell us about your team.

Key Management*

	Full Name	Title	Commitment (e.g. Full time, part time)
1
2
3
4
5
6
7
8

Leadership bios:*
Describe the background/experience each founder brings to your leadership team. What (if any) personal connections do you have to the core mission of this company?

Prize Money

Tell us how the $100k will be used.
How will this prize propel the growth of your business?*
Tell us your moonshot. How does your startup change the world?*

0/500

Supplementary Information

This is your opportunity to shine.
Add images or supplementary visual aids to help our team better understand and visualize your offering (optional).

Cancelof
YouTube link showcasing your company video or demo of product/service (optional):
Anything else you'd like us to know? (optional)

0/500

Verification & Acknowledgement
The undersigned acknowledges that all information provided in this application is truthful and accurate and that if selected as a finalist, is willing to present their pitch in-person to a panel of judges at the Venture Challenge event in December 2024 in Des Moines, IA. :*

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Would you like us to send your application materials to IowaBio to be considered for their pitch competition ($10,000 prize) in March 2025?

Yes, please send my application materials to IowaBio!No, thank you.Not at this time, but I'd like to learn more about the IowaBio showcase.
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2024 InnoVenture Challenge Application

Applicant Information

Eligibility Info

Business Overview

Current Status

Market Analysis

Other Funding Sources

Personnel Information

Prize Money

Supplementary Information

Verification & Acknowledgement