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As a natural part of what I do, I’m constantly thinking about the role of a “community” in helping to support innovation and particularly those building startup companies. For most of the past year, however, I’ve also been thinking a lot about the role of startups in a broader community context as I’ve participated in the Greater Des Moines Leadership Institute’s Community Leadership Program.
Over the course of nine months, the CLP curriculum focuses on leadership development, getting to know the Des Moines community better and serving a non-profit partner. It’s intensive, a significant time commitment and kind of spendy (for those of us without continuing education budgets).
I get asked a lot if the program is worthwhile for entrepreneurs. I didn’t have that answer when we started last August—I initially participated because it felt like something I should do, not necessarily because it's something I wanted to do—but it quickly surpassed all my expectations.
I knew the network would be valuable and I’m already seeing benefit from that. Thanks to this program, I now have leadership-track friends working inside many of Central Iowa’s established businesses that I expect to call upon for all sorts of things in the future. Plus, there’s now 48 new advocates for what I’m working to build here with Gravitate.
I really underestimated the value of learning about Des Moines though since I kind of thought that I already had the place figured out. GDMLI exposed me to several parts of the community that I likely would never have made the effort to visit, to all sorts of venues I’d never seen and to many social and cultural issues that I’d never considered. We all know the value of “getting outside the building” and experiencing diverse situations/viewpoints but sometimes it take a reason like this to motivate you to actually do it.
Even though most of you are probably heads down right now working on something, I’d encourage you to check out GDMLI or whatever leadership program is offered in your community. And, don’t be afraid to wear jeans and hoodie. I made it all the way until graduation day, last Thursday, without putting on a suit.
Geoff
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Tech firm to bring 1,000 jobs to Des Moines
Des Moines Register (Joel Aschbrenner & Kevin Hardy, May 19)
Last week Cognizant Technology Solutions (Teaneck, N. J.) announced that it will bring more than 1,000 new jobs to the Des Moines metro over the next five years moving. The company current employs about 400 workers in Des Moines. Nationally Cognizant has 41,000 employees and globally about 233,000. While the company is expected to receive close to $1 million in tax incentives from the state, some have questioned the quality of the jobs it will bring to the area. According to the Des Moines Register, "more than 900 of the planned jobs would pay less than $26.72 per hour, the equivalent of about $55,000 a year for a full-time worker."
“It’s all good and fine that they’re able to add jobs to downtown Des Moines,” Iowa State University economist Dave Swenson told the Register. “If the jobs don’t pay anywhere near the average worker, I see no reason for the state and city to subsidize them.”
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Men’s Style Lab ‘guideshop’ coming to East Village
Des Moines Register (Matthew Patane, May 23)
Des Moines e-commerce startup Men's Style Lab announced last week that it's new brick and mortar location in the East Village will also serve as a guideshop for would-be customers. The new location will include a bar stocked with two local brews on tap, a flat-screen TV, leather furniture and three fitting areas. Customers accepted through an appointment will meet with a stylist as they work out what it is they're looking to add to their wardrobe.
"You’re not coming and shopping. You shop at a store," Founder Derian Baugh told the Des Moines Register. "You come here, and it’s literally a guided experience with a stylist. You come in, they’re having an interaction with you, they’re really getting to understand what you’re looking for and then they bring the clothes to you."
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BOARD ACTION: Board Approves Awards to Support Over $43 Million in Capital Investments
IowaEconomicDevelopment.com (May 20)
The Iowa Economic Development Authority (Des Moines) had a busy meeting this week awarding direct financial assistance and tax benefits to companies to "assist in the creation of 1,275 jobs, retention of 53 jobs and will result in over $43 million in new capital investment for the state".
Those receiving the assistance include startups such as Des Moines-based My Diabetes Home ($25,000 grant) and Clinic Note ($100,000 loan), Dallas Center's AgriSync ($100,000 loan), Davenport's JumpOnIt ($100,000 loan), Iowa City's ORGANizer ($25,000 grant) and Fairfield's Point of Choice, LLC ($100,000 loan). Established tech companies recieving assistance include the aforementioned Cognizant Technology Solutions ($812,000 in direct assistance plus tax benefits), Iowa City's MetaCommunications ($775,000 in direct assistance) and Scientific Games Corporation (tax benefits), who has locations in Cedar Falls and Des Moines.
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Iowa Startup Power Rankings—May
Geoff Wood
Welcome back to the Iowa Startup Power Rankings! We kicked things off with a bang last month as Tourney Machine was a clear number one after their big news of being acquired by Sports Illustrated Play. They are absent from the list this month (sorry folks—an acquisition or IPO means you're ineligible moving forward) and we welcome three new companies to their first ever power rankings.
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Coffee Shop Coworking: Scenic Route Bakery
Megan Bannister
Located in one of the neighborhood’s newer buildings, Scenic Route shares the block with two clothing stores and a stationary shop with residential space upstairs. With dozens of shops and other restaurants mere blocks away, the coffee shop is almost always bustling with Capitol staffers on their lunch break, friends grabbing a coffee between errands, or students typing away on their laptops. When it comes to East Village essentials, you won’t find a better place than Scenic Route to host a meeting or put the finishing touches on a presentation.
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