The startup community as part of the emerging economy will only have success if it is strongly tied to education and welcoming to diversity of all types. Thus far we are seeing more female and minority founders than national norms and we must work to continue advancing this trend. Efforts to support microenterprise will be bolstered to assist lower income individuals become business owners to increase socioeconomic mobility. By having a stronger culture of entrepreneurship and innovation the ICR IOWA will continue to create its own economic opportunities which will provide resilience from changes to existing employers as technology and trends alter the employment makeup of the region.
Action 1: Develop a stronger network of support, mentoring, training and guidance that aligns with the stage, potential and personality of the startup and emerging companies in our region.
  • Timeline: Ongoing to five years
  • Cost: $200,000-300,000/ year
  • Responsible Parties: JPEC, EDC, NewBoCo, ECICOG,ICAD, Entrepreneurial Community
Action 2: Develop more robust capitalization options for companies at all stages of growth.
  • Timeline: Ongoing to five years
  • Cost: $250,000-500,000/ year
  • Responsible Parties: EDC, NewBoCo, ICAD, JPEC, SBDC, ECICOG,CRMEA, Banking Partners, IEDA
Action 3: Develop programs to fill the specific talent needs of the startup community, specifically executive talent and software development.
  • Timeline: 2-10 years
  • Cost: $500,000-$2,000,000
  • Responsible Parties: ICR IOWA, NewBoCo, JPEC, ICAD, CRMEA, EDC, Regional Economic Development Entities
Action 4: Develop innovative ways to connect our startup ecosystem to other tech hubs around the globe. Start to think beyond our geographic borders to find ways to grow jobs and wealth locally.
  • Timeline: 2-10 years
  • Cost: Uncertain
  • Responsible Parties: ICR IOWA, CRMEA, ICAD, NewBoCo, TAI, IEDA
 
The success of a startup ecosystem is best judged by the number and success of startups within the region. During the next 5 years, and for every 5 years thereafter, the specified stakeholders will revisit the success of the current and soon-to-be implemented methods and judge next steps based on data collected from entrepreneurs, public input, and other stakeholders throughout the region.