Iowa Startup Accelerator

Iowa Startup Accelerator

Eric Engelmann founded Iowa Startup Accelerator (ISA) in 2014 as the investment arm of New Bohemian Innovation Collaborative (NewBoCo), a Cedar Rapids-based nonprofit that combines tech education, entrepreneurship programming, and startup investment under one roof. ISA emerged from a regional conviction that Iowa founders needed structured pre-seed and seed capital alongside intensive mentorship — not just a check — to build companies capable of scaling without relocating. The accelerator has since run multiple cohorts from its Cedar Rapids headquarters, drawing applicants from across the Midwest. ISA invests at the pre-seed and seed stages, deploying capital through a structured 90-day accelerator program followed by ongoing portfolio support. The firm's investment structure blends direct equity stakes with a cohort-based curriculum, covering go-to-market execution, product development, and investor readiness. Known portfolio companies span enterprise software, agtech, insurtech, and healthtech — sectors that align with Iowa's industrial base and talent pools. The accelerator has co-invested alongside the Iowa Economic Development Authority (IEDA), which provides state-level grants and matching funds to support cohort companies, and maintains membership in the Global Accelerator Network (GAN), linking its portfolio to a broader ecosystem of mentors and follow-on investors. ISA operates from the NewBoCo headquarters at 460 12th Ave SE in Cedar Rapids, with additional real assets tied to the initiative including the Geonetric Building and the ArtTech Village mixed-use development — the latter built in partnership with Hatch Development Group to provide housing for accelerator participants. David Tominsky, the former Managing Director of ISA, helped shape the accelerator's early cohort design before transitioning to a partner role at Novy, a venture studio. Engelmann concurrently leads ISA Ventures, a related early-stage fund vehicle, extending the firm's deployment capacity beyond the accelerator format. In recent years, ISA has deepened its collaboration with the Cedar Rapids Metro Economic Alliance to position the corridor as a viable startup hub. ISA's structural distinction lies in its nonprofit parentage. Unlike most accelerators that operate as for-profit fund managers, ISA sits inside a 501(c)(3) organization — NewBoCo — creating a hybrid model where investment returns are secondary to regional economic development mandates. This architecture allows ISA to accept state grant funding, partner with economic development authorities, and program non-dilutive capital alongside equity investments in ways a traditional VC cannot. Governance flows through NewBoCo's board, which blends technology executives, civic leaders, and investors who enforce the dual mandate of financial sustainability and ecosystem building.