The Local Impact of EDC
For 13 years, the Entrepreneurial Development Center (EDC) has helped move Iowa companies forward to reach their next stages of business. Since its establishment in 2003, EDC clients have created roughly 2,000 jobs in Iowa. Additionally, EDC clients have generated nearly $1.3 billion in new revenue over the 13 years.
As a not-for-profit business accelerator, EDC’s mission is to stimulate economic growth by assisting with the creation and expansion of high-impact Iowa businesses. The group works with businesses of all types and sizes – from start-ups to well-established, multi-million-dollar entities – connecting entrepreneurial needs with qualified community and state resources, and providing hands-on professional business direction. Actively working with approximately 40 clients at any time, EDC also meets with more than 70 prospective clients each year.
The ultimate goal is economic development for Iowa through added jobs, infrastructure investment, increased wages, and increased use of service providers. EDC is run by hands-on business professionals who have decades of experience in the private business world, and are now advising other businesses based on their areas of strength.
Focusing on interstate/international commerce business models that are based in Iowa, EDC evaluates potential clients by using a diagnostic assessment of five key business components:
1. Strategic fit
2. Business plan
After going through a series of meaningful questions together, the client is presented with a report card representing the business’ overall “Recipe,” based on the book The Recipe for Business Success® by EDC President and CEO, Curt Nelson. EDC makes sure the client understands the report and the documented areas for improvement, and then creates a plan to address them.
EDC also links clients with other useful resources including a growing list of subject matter experts and other entrepreneurs. EDC’s networking events including the annual Innovation EXPO, also help clients connect with each other and with community members.