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.
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
- 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.)
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
- Applicant fills out application and completes and initial intake session with FEDA.
- A FEDA committee will review the material and notify the applicant within two weeks of approval decision.
- If approved, the applicant will complete an intake session with EDC at their office in Cedar Rapids, Iowa.
- Following EDC intake, EDC will connect with FEDA to:
- Review applicant needs, services to be provided, goals and timeline.
- Determine if an EDC Services Agreement will be extended to applicant.
- EDC will notify the applicant within two weeks of approval decision. If approved, an EDC Services Agreement will be executed.
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.
To set up an intake session or learn more, contact Adam Plagge at 641-472-3436.
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