中文 , Español , Française >> Translate

FEDA has recently partnered with the Cedar Rapids-based EDC to create a new program named Project Grow Our Own. The new program provides professional support and mentoring services from EDC to qualifying Jefferson County entrepreneurs at a reduced cost. All residents of Jefferson County are eligible to participate in the program who meets certain criteria. Funding is awarded up to $1,500 with a 25% match requirement by the applicant. There is a $50 application fee that must be submitted with the application.

Some of FEDA’s consideration of a business’ qualifications for Project Grow Our Own funding will include the applicant’s potential benefits to community during life of project, including

o     Jobs created or retained

o     Capital investment

o     Demonstrate scalability

o     Net increase in space occupied (purchased or leased)

For questions regarding Project Grow Our Own or to setup an intake session, contact Brent Willett or Sam Busch at 641-472-3436. More information is also available at GrowFairfield.com.

Interview Outline

1.    Give a short program overview of Project Grow Our Own

2.    Review the purpose of the program

3.    Discuss who EDC and FEDA are

4.    Provide details on what support and services are available.

5.    Outline the eligibility criteria

6.    Review application and approval process

7.    Talk about the funding terms

8.    Provide information on how to get started or to learn more

1. Short Program Overview

FEDA has recently partnered with the Cedar Rapids-based EDC to create a new program named Project Grow Our Own. The new program provides professional support and mentoring services from EDC to qualifying Jefferson County entrepreneurs at a reduced cost. All residents of Jefferson County are eligible to participate in the program who meets certain criteria. Funding is awarded up to $1,500 with a 25% match requirement by the applicant. There is a $50 application fee that must be submitted with the application. More information is available at GrowFairfield.com.

Some of FEDA’s consideration of a business’ qualifications for Project Grow Our Own funding will include the applicant’s potential benefits to community during life of project, including

o     Jobs created or retained

o     Scalability

o     Capital investment

o     Net increase in space occupied (purchased or leased)

Long Program Review

2. WHAT IS THE PURPOSE OF THE PROGRAM?

To provide professional support and mentoring services from EDC to qualifying Jefferson County entrepreneurs at a reduced cost, FEDA (the Fairfield Economic Development Association, Inc.) and EDC (the Entrepreneurial Development Center, Inc.) have formed a strategic partnership that we named Project Grow Our Own.

3. WHO ARE EDC AND FEDA?

EDC is a full-service business accelerator modeled after other successful national business accelerators to proactively improve Iowa’s entrepreneurial success rates.  Based in Cedar Rapids, EDC is staffed with business experts who provide hands-on professional support and services for early stage and well-established businesses. EDC focuses specifically on interstate commerce businesses headquartered in Iowa.

FEDA is a non-profit economic development organization governed by a seven-member board of directors. They work closely with local community development organizations, financial institutions, businesses, industries, as well as agencies and elected officials in local, county, state and federal government to create jobs and capital investment in the greater Fairfield area.

4. WHAT ARE THE AVAILABLE SUPPORT AND SERVICES?

  • Mentoring
  • Administrative/Clerical
  • Sales & Marketing – sales coaching, marketing plans, market research
  • Personnel—team development/hiring
  • Funding Services— venture capital access, equity raising, government resources
  • · Manufacturing Operations or Production Analysis
  • · Financial Review & Budgeting Process Implementation
  • Executive / Leadership
  • Business Plan Writing
  • Road-Show Presentations

(Funding does not guarantee access to all of the listed services.)

5. WHAT IS THE ELIGIBILTY CRITERIA?

To be eligible for Project Grow Our Own, the following must be met for an applicant to be considered:

  • Residency of business principal in Jefferson County, Iowa
  • Interstate Commerce
  • Business headquartered in Jefferson County, Iowa
  • Demonstrate Scalability
  • Demonstrated potential to create jobs and wealth in Jefferson County

6. IS THERE AN APPLICATION TO COMPLETE AND WHAT IS THE APPROVAL PROCESS?

  • YES. In the initial intake session with FEDA, an applicant must fill out an application.
  • A FEDA committee will review the application and any other material presented. Within two weeks the applicant will be notified of the decision.
  • If approved, the applicant will complete an intake session with EDC at their office in Cedar Rapids, Iowa.
  • Following EDC intake, EDC will connect with FEDA to:

o     Review applicant needs, services to be provided, goals and timeline.

o     Determine if an EDC Services Agreement will be extended to applicant.

  • EDC will notify the applicant within two weeks of approval decision.  If approved, an EDC Services Agreement will be executed.

7. WHAT ARE THE FUNDING TERMS?

  • Funding is awarded on a per applicant basis by FEDA for approved EDC support and services.
  • The maximum funding amount per applicant is $1,500 with a 25% match requirement by the applicant.
  • Applicants may be eligible for a second round of funding following exhaustion of initial award if applicant can demonstrate progress and make evident success indicators, including business or market capitalization and job creation.

A $50 application fee applies. If application is approved; $25 will be applied towards the 25% match obligation.

8. HOW CAN SOMEONE GET STARTED OR LEARN MORE?

For questions regarding Project Grow Our Own or to set up an intake session, contact Brent Willett or Sam Busch at 641-472-3436. More information is also available at GrowFairfield.com.

Brochure – Project Grow Our Own