Entrepreneurial Development Center Clients Make Up Five of 15 Fastest Growing Companies In Area
Awards Hosted by Corridor Business Journal Highlight the Corridor's High-Growth Companies
CEDAR RAPIDS, IA-May 29, 2008-The Entrepreneurial Development Center (EDC), a community-sponsored business accelerator, is pleased to announce that five of its clients were recognized yesterday at the FASTEST GROWING COMPANIES breakfast hosted by the Corridor Business Journal (CBJ). This notable list of clients includes: Asoyia, LLC (Iowa City), MobileDemand (Hiawatha), Express Auto Delivery (Cedar Rapids), Genova Technologies (Cedar Rapids) and Geonetric (Cedar Rapids). The 2008 FASTEST GROWING COMPANIES breakfast, held May 28, at the Kirkwood Center for Continuing Education in Cedar Rapids, Iowa, was the first for this event and recognized companies with the highest growth rates in the Cedar Rapids/Iowa City Corridor. Over 250 people were in attendance at the awards.
Companies had to earn at least $350,000 annually and were ranked based on the percentage increase in revenue experienced from 2005 to 2007.
"It's exciting to see our area's entrepreneurs receive the recognition they deserve for working so hard to grow so fast," said Curt Nelson, President and CEO of the EDC and presenter of the top five awards at the ceremony. "It is some of these exciting, high-growth entrepreneurial companies that will one day grow up to be the Rockwell Collins and Life Investor's of our area's future."
Of particular note, EDC client Matt Miller of MobileDemand was presented with the Entrepreneur of the Year award. MobileDemand provides rugged mobile computer systems (xTablet Rugged Tablet PC). MobileDemand is a long-time client of the EDC, approaching EDC when Miller first began to launch his business in 2003.
Asoyia, LLC, was awarded the top fastest growing company on the list with a growth rate over the past three years of 856%. Asoyia grows and processes 1% ultra low linolenic soybeans to produce oil that is trans fat-free.
The growth rates of the other EDC clients were: Express Auto Delivery with 621% growth; MobileDemand experiencing 312% growth, Geonetric with 156%, and Genova Technologies with 115% growth.
The EDC was presenting sponsor of the event.
About the EDC
The Entrepreneurial Development Center was incorporated in 2003 as a community-sponsored, non-profit business accelerator. The company provides economic growth through the development and expansion of entrepreneurial enterprises and has successfully assisted over 300 Iowa-headquartered businesses. Its focus is on creating local wealth for area re-investment by growing and cultivating regional, national, and international businesses. In 2006, the EDC expanded its reach to rural Iowa businesses through the Iowa Farm Bureau Federation's Renew Rural Iowa initiative (http://www.renewruraliowa.com). Visit www.edcinc.org for details.
Client links:
http://www.ruggedtabletpc.com
http://www.asoyia.com
http://www.shipead.com
http://www.geonetric.com
http://www.genovatech.com
