RG 069 Product Development Corporation/Iowa Seed Capitol Corporation

The Iowa Product Development Corporation was established in 1983 by the 70th General Assembly as a State-funded early stage investment fund. The Corporation received appropriations and according to the Code of Iowa, the purpose of the Corporation is “to stimulate and encourage the development of new products within Iowa by the infusion of financial aid for invention and innovation in situations in which financial aid would not otherwise be reasonably available from commercial sources.” In 1994, the General Assembly changed the name to the Iowa Seed Capital Corporation. The Corporation functions under the Department of Economic Development (see also RG 30).