A newly launched web site is aimed at breaking the myth that start-up companies in Iowa can’t raise capital. More than 40 entrepreneurs have already shared their success stories.
Groups with an interest in building Iowa’s start-up businesses are launching a web page they call “I Raised in Iowa.” The goal is to debunk a belief that it’s impossible to raise money for new companies in the state. One of the parties involved is the Greater Des Moines Partnership. Its executive director of entrepreneurial initiatives, Mike Colwell, says they were looking for a simple way to tell fund-raising success stories.
“I’m talking about equity funding here, so angel money, seed money, capital money for start-ups who are based here in Iowa,” he says.
Colwell, says it’s a topic about which Iowans are reluctant to talk.
“As Iowans, we don’t tend to brag a lot, so we don’t hear from people yelling from the rooftops,’Hey, I just raised four-million dollars for my company.’ It just isn’t done here.”
The site already contains stories from entrepreneurs who have raised more than $4-million down to those who have pulled in less than $500,000.
The site is designed to be included on the web pages of other economic development agencies. Colwell says he wants it to be a “living” site that will change as more stories are added.