Three startups in Coralville were awarded funding by the Iowa Economic Development Authority (IEDA) last month.
Innovas Technologies, ProCircular and Voxello all received innovation funding loans through IEDA’s Demonstration and Iowa Innovation Acceleration Fund. The demonstration program provides assistance to technology startups to help the companies develop concepts that could lead to commercial success, according to a press release.
All three of the companies will use the funds to support their continued growth, which includes hiring more personnel, buying equipment and refining products.
The Iowa Innovation Acceleration program was established in Coralville to promote the growth of local businesses and encourage the continued investment into technology to ensure profitable companies.