Partnering to stimulate Fairfield Entrepreneurialism

Project Purpose

The Fairfield Economic Development Association, Inc. (FEDA) and the Entrepreneurial Development Center, Inc. (EDC) have formed a strategic partnership to provide professional support and mentoring services from EDC to qualifying Jefferson County entrepreneurs at a reduced cost.

About EDC

EDC is a full-service business accelerator modeled after other successful national business accelerators to proactively improve Iowa’s entrepreneurial success rates. Based in Cedar Rapids, EDC is staffed with business experts who provide hands-on professional support and services for early stage and well-established businesses. EDC focuses specifically on interstate commerce businesses headquartered in Iowa.

Available Project Grow Our Own services

  • Mentoring
  • Administrative/Clerical
  • Sales & Marketing – sales coaching, marketing plans, market research
  • Personnel—team development/hiring
  • Funding Services— venture capital access, equity raising, government resources
  • Manufacturing Operations or Production Analysis
  • Financial Review & Budgeting Process Implementation
  • Executive / Leadership
  • Business Plan Writing
  • Road-Show Presentations

(Funding does not guarantee access to all of the listed services.)

Eligibility Criteria

The following must be met for an applicant to be eligible for Project Grow Our Own:

  • Residency of business principal in Jefferson County, Iowa
  • Interstate Commerce
  • Business headquartered in Jefferson County, Iowa
  • Demonstrated potential to create jobs and wealth in Jefferson County

Application & Approval Process

  1. Applicant fills out application and completes and initial intake session with FEDA.
  2. A FEDA committee will review the material and notify the applicant within two weeks of approval decision.
  3. If approved, the applicant will complete an intake session with EDC at their office in Cedar Rapids, Iowa.
  4. Following EDC intake, EDC will connect with FEDA to:
    1. Review applicant needs, services to be provided, goals and timeline.
    2. Determine if an EDC Services Agreement will be extended to applicant.
  5. EDC will notify the applicant within two weeks of approval decision.  If approved, an EDC Services Agreement will be executed.

Funding Terms

Funding is awarded on a per applicant basis by FEDA for approved EDC support and services. The maximum funding amount per applicant is $1,500 with a 25% match requirement by the applicant. Applicants may be eligible for a second round of funding following exhaustion of initial award if applicant can demonstrate progress and make evident success indicators, including business or market capitalization and job creation.

A $50 application fee applies. If application is approved; $25 will be applied towards the 25% match obligation.

Getting Started

To set up an intake session or learn more, contact Adam Plagge at 641-472-3436.

FEDA

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