It is our pleasure to announce that applications are officially live for this year’s $100,000 InnoVenture Challenge. Previous year’s applicants are strongly encouraged to apply again (give us an update on your progress!) and we are eager to review submissions from new competition hopefuls in 2024. The application portal will remain open for all submissions until 5pm CST on September 30th, 2024.
Who’s Eligible?
Any Iowa-based, early-stage startup is invited to apply. Our preferred platforms are information technology (any software company), bioscience and advanced manufacturing (products). We define “Iowa-based” as having headquarters and/or significant operations in the state of Iowa – this might mean one of your co-founders resides in Iowa, a handful of employees have a presence or an office here, or your product/goods are manufactured at a facility in our state. If you’re unsure whether your startup meets the “Iowa-based” qualification, simply reach out! We are here and happy to help.
How Are Applicants Scored?
Startup applications will be reviewed by a cohort of judges and scored against categories like seven (7) Core Criteria:
- Core Problem + Solution
- Revenue Model
- Market Analysis
- Leadership Team
- Use of Funds
- Overall Innovation
- Fundability
Companies are eligible to receive up to 10 points in each category, for a total score of 70 overall. The 2024 judging panel will be announced soon – you can see last year’s lineup here.
How to Craft a Winning Application
The InnoVenture Iowa team is hosting a series of webinars in September to help competition hopefuls craft a winning application. You can register for one or more webinars using the button below.
Final Thoughts
“When in doubt, just reach out!” That’s our guiding principle for all founders interested in participating in this year’s competition. Our team is here to answer your questions and help you succeed in your efforts. You can reach us at challenge@innoventureiowa.com.
See our published FAQ’s for more common questions and feel free to download the application questions and work on your submission offline throughout the month of September. Good luck, startups!
