Iowa Innovation Council: A new plan for nurturing business

The answer to improving Iowa’s economy lies more with igniting startup companies such as BodyViz, Dwolla and Sensr than luring big companies like Google, IBM and Microsoft to the state, influential business leaders believe.

Members of the newly created Iowa Innovation Council say the state needs to drive its economy through innovation, a long-term structural change that promises Iowans better-paying jobs.

The group plans to start a seed fund, used to invest in young companies, raising as much as $100 million in private investment within three years. The fund would invest $500,000 to $3 million in promising startup companies, targeting bioscience, advanced manufacturing and information technology, organizers say.

by DONNELLE ELLER

Full Story: http://www.innovationamerica.us/index.php/innovation-daily/8436-a-new-plan-for-nurturing-business