IEDA Board approves assistance for six startups

January 16, 2026 (DES MOINES, IA) - Today, the Iowa Economic Development Authority (IEDA) Board approved assistance for six startups located in Ames, Ankeny, Boone and Des Moines.

Ames-based agtech company Hermes Biomaterials, Inc. develops tools that help researchers create stronger, higher-yielding crops. Its FGB device enables the precise delivery of genetic material into plant cells. The company received a $50,000 Proof of Commercial Relevance loan to support staff, lab equipment and supplies needed to grow and test soybeans. This investment will allow for additional in-house research and testing, accelerating product development and bringing new agricultural technologies to market more quickly.

Koos Medical Innovations, Inc. of Ankenyhas developed a disposable isolation gown designed to reduce the spread of infectious germs in health care settings. The gown's patented design meets Food and Drug Administration performance standards and provides a superior barrier against fluid exposure, helping protect both patients and providers while lowering infection-related risks and costs for hospitals. Koos received a $100,000 Demonstration Fund loan to support commercialization and early market entry.

Headquartered in Boone, Critical Materials Recycling, Inc. recycles rare earth elements used in defense applications, clean energy and advanced technologies. Its patented, acid-free process recovers high-purity rare earth oxides - key materials used to manufacture high-performance magnets - from hard disk drives, wind turbine magnets, electric vehicle motors and consumer electronics. This process reduces emissions, electronic waste and reliance on foreign mining. The company was awarded a $100,000 Demonstration Fund loan to hire a chief commercial officer and refresh its branding.

Des Moines-based Broker Hero, LLC, doing business as Broker Hero AI, is a software-as-a-service company that supports merger and acquisition (M&A) professionals and business brokers serving small- to lower middle-market companies. Its platform automates prospecting and identifies off-market opportunities with intent-based targeting. The company's SmartLists tool uses artificial intelligence and data providers to more efficiently identify potential buyers and sellers. Broker Hero received a $50,000 Proof of Commercial Relevance loan to refine its product, support key personnel and expand its market presence.

Morrigan Company of Des Moines, doing business as MorriganAI, develops software that helps organizations understand how artificial intelligence (AI) is being used across their workforce and systems, enabling leaders to manage it more safely and effectively. Its tools identify hidden or unapproved AI use, which can expose sensitive data, create compliance risks and lead to productivity gaps. The company received a $50,000 Proof of Commercial Relevance loan to support market analysis, product refinement, market planning and entry, and key personnel.

Des Moines-based Renewabl Furniture, Inc., doing business as Renewabl App, is a software-as-a-service company that uses artificial intelligence to help home furnishings professionals and consumers quickly create realistic visuals of custom furniture and decor. Users can upload photos of their existing home furnishings or sketches and apply fabrics, paints, hardware, finishes and other design elements. The company received a $50,000 Proof of Commercial Relevance loan to refine its software platform, hire key personnel and support its commercial launch.

Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.

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