Iowa Startup Accelerator, first in state, opens in Cedar Rapids - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa Startup Accelerator, first in state, opens in Cedar Rapids

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CEDAR RAPIDS (AP) -

Cedar Rapids is joining the expanding pool of U.S. cities that want to kick-start fledgling businesses.

The Iowa Startup Accelerator begins Monday and is the first of its kind for the state, according to the Des Moines Register.

The accelerator is a three-month program that brings startups from across the world to Iowa to grow and learn from tenured businesspeople.

Each startup will receive a $20,000 investment from the accelerator in return for 6 percent of the company.

Ten businesses will comprise the inaugural class for the accelerator. They will relocate to Iowa from Aug. 4 to Nov. 6.

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