THURSDAY, MARCH 23, 2017  |  IN THIS ISSUE
story1Pear Deck secures $4M investment, closes Series A round
 
From left, Pear Deck co-founders Dan Sweeney, Anthony Showalter (screen), Riley Eynon-Lynch and Michal Eynon-Lynch, as featured in the CBJ's 2014 E101 magazine. PHOTO Bill Adams
Corridor ed-tech firm Pear Deck has secured a $4 million equity investment from San Francisco-based Growth Street Partners and its existing investors, including Village Capital, Hyde Park Venture Partners and AOL co-founder Steve Case, the Iowa City Area Development Group announced yesterday.
 
The investment closes Pear Deck's Series A round, and brings the total amount of funding raised by the Iowa City-based company to $5.2 million, EdSurge reported.
 
Founded in 2014, Pear Deck's software allows students to respond in real time to a teacher's lesson with text responses, drawings, and other interactive strategies that the teacher can see immediately. The company has benefited from the rapid growth in "one student to one device" classrooms, and already has customers in more than 40 states and some of the country's largest school districts.
 
The investment in Pear Deck is the first for Growth Street Partners, which typically targets investments of $3-10 million in companies with $1 million-$5 million of annual run-rate revenue.
 
In conjunction with the investment, Stephen Wolfe, co-founder of Growth Street, and Victoria Fram, co-founder and managing director of Village Capital, will join Pear Deck's board of directors.
 
"Growth Street's partnership with Pear Deck is an important milestone in the company's growth and will further the software's rapid adoption within the K-12 market," Ms. Fram said in a press release. "The company has demonstrated impressive traction over a short time frame and is now well positioned to scale in a growing market."
 
Co-founder and CEO Riley Eynon-Lynch said in the release that the investment will allow the company to "accelerate growth, invest in product, optimize go-to-market, and remain focused on our primary mission of helping teachers engage all of their students, every day."
downtownISA launches one-year program with two teams


Members of the BluSolar startup team (l-r):  Hunter Somers, Bryce Kapitzky, Daniel Rivera, Estefano Martinez and Jocelyn Hernandez.
The two newest Iowa Startup Accelerator teams introduced this week will be the first to experience the ISA's new one-year program, in which mandatory in-person programming is condensed to Fridays.
 
Global Healthcare Integrators is a Reston, Virginia-based startup offering a software-as-a-service platform that will draw insights from patient data collected involving treatments with drugs provided through specialty pharmacies.
 
The cloud-based service will overlay on health care systems' existing pharmacy software platform, and will support clinical workflows, specialty pharmacy patient services, data collection and data sharing.
 
The BluSolar startup team, composed of Millikin University undergraduates and supported by Millikin faculty members, is aiming to commercialize a process for improving the efficiency of solar panels by 2-15 percent by introducing a cryogenic freezing step in the production of panels.
 
The ISA was previously organized around an intensive 90-day calendar that left little time for studies, work or family. Under the new calendar, the BluSolar team, for example, will be able to continue pursuing their studies at Millikin University in Decatur, Illinois, while traveling to the ISA in Cedar Rapids on Fridays for in-person programming.
 
The new one-year program is "more rigorous, but more flexible," than the previous 90-day program, according to ISA Program Manager Molly Monk. She said the ISA has encouraged teams to continue to receive mentoring and support from the accelerator after graduation, and has found that teams' success correlates with the length of time they remained engaged with the program.
 
The ISA will later announce its 2017 summer and fall cohorts, aiming for a total of 10 teams.
 
Read more about the ISA's new format and teams in Monday's edition of the CBJ.
Story2Hames ranked among nation's leading home community owners
Marion-based Hames Homes has been ranked as one of the top 100 manufactured home community owners in North America, according to the Allen Report, a leading industry resource.
 
According to the Allen Report's 2017 listing of "Who's Who Among Land-lease Community Portfolio Owner Operators," Hames ranked No. 80, and is the largest privately held owner-operator in Iowa.
 
The company, founded in 1969 by Curt and Norma Hames, is now a third-generation family business servicing all aspects of housing: mobile/manufactured home sales, mobile home park management, financing, homeowner's insurance, and site-built housing developments. Over the past 48 years, the company has sold more than 11,000 mobile, manufactured and site-built homes.
 
The company has 24 employees, and offices in Cedar Rapids, Iowa City, Marion and West Branch.
EcoLipsInternational Entrepreneurship Summit set for tomorrow
The International Entrepreneurship Summit will return to downtown Iowa City tomorrow, giving local entrepreneurs a chance to learn about and exploit opportunities in the global market.
 
This year's summit will feature Raul Rodriguez, director of the Center for Hemispheric and United States Studies at the University of Havana in Cuba. Mr. Rodriguez will speak on how Iowa and Cuba can benefit from improved relations during the Global Business Breakfast, to be held from 7:30-9 a.m. at the HotelVetro, and during a lecture for students from 1-2 p.m. at the Pappajohn Business Building.
 
The summit will conclude with a panel discussion and reception from 4-6 p.m. at the new Voxman Music Building, during which Mr. Rodriguez will be joined by state and federal trade officials to discuss updates on the international trade ecosystem.
 
The event is open to the public. Attendees can register online at the Iowa City Area Chamber of Commerce website, or pay with cash at the door.
 
IES is hosted by Iowa Entrepreneurship, theTippie College of Business - University of Iowa, Iowa City Area Chamber of Commerce, Iowa City Area Development Group and the Iowa District Export Council.
TelepharmNFIB: Optimism dips as small business owners wait for reforms
               The NFIB's Small Business Optimism Index since 2000.
Small business optimism remained elevated in February, but retreated from January's record-high levels as business owners wait for Washington to deliver on health care and tax policy reforms promised by President Donald Trump, according to the National Federation of Independent Business.
 
The NFIB's Small Business Optimism Index fell 0.6 points to 105.3 in February, but has remained above 105 for three months in a row following December's record one-month increase. The index has not been above 105 since 2005, according to NFIB data. The baseline of 100 was set in 1986.
 
Three of the index's 10 components increased in February, including its job openings component, which reached its highest level since December 2000. More owners also reported difficulty finding qualified workers to fill open positions, however. Twenty-six percent of small business owners reported raising compensation, one of the highest readings since February 2007.
 
The percentages of survey respondents expecting to increase employment, make capital outlays or see higher sales all fell modestly in February, but nearly half still expect the economy to improve in the coming months.
 
"It is clear from our data that optimism skyrocketed after the election because small business owners anticipated a change in policy," NFIB President and CEO Juanita Duggan said in a press release. "The sustainability of this surge and whether it will lead to actual economic growth depends on Washington's ability to deliver on the agenda that small business voted for in November. If the health care and tax policy discussions continue without action, optimism will fade."
 
Read the full report for February at the NFIB website.
ConsultingConsulting: Relationships the foundation of success
 
In this week's consulting spotlight, CBJ columnist Gale Mote explores how you can better connect with current and potential customers:

I believe that Dale Carnegie had it right when he said, "you can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you."

As I write this article, I am returning from a trip to Hong Kong. I was there for 10 days teaching my team course for the University of Iowa Tippie College of Business MBA program. My students were with me for a total of 28 hours. When I left, there were hugs, selfies, team photos and celebrations. Many of them have connected with me on LinkedIn. I'm certain some of them will stay in contact with me for years to come.

In a short amount of time, I was able to connect in a meaningful way with people from different countries, cultures and backgrounds. The experience caused me to reflect on the essence of building positive relationships in work and life. We know that success is always about the relationship. Without solid relationships, we have no customers, suppliers, employees, no family -- no one.

So, what actions help us to connect with strangers and acquaintances so that we begin to form the necessary relationships to conduct successful business?

Read the full column at www.corridorbusiness.com.
aroundtheweb From around the web: 
  • The Seattle Times explores what it means to "give up" when restaurant ambitions go south.
  • Forbes lists its 10 "key steps" to securing a small business loan.
  • U.S. Sen. Chuck Grassley has co-sponsored a bill that would prioritize the needs of small businesses with the passage of any new regulations that might impact them, Small Business Trends reports.
  • Entrepreneur explains why you should (or shouldn't) consider HR software for your small business.
Shop small, read independent

Forward the FREE, weekly CBJ on Small Business newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters here, or check out our other subscription options here.

See something we missed? Send tips, leads, corrections, etc. to [email protected].
Stocks Corridor Stocks  

NAME SYM PRICE CHG %CHG
AEGON AEG  5.545 -0.005 -0.09%
Alliant Energy LNT  39.84 0.06 0.15%
Deere & Company DE  109.57 -0.20 -0.18%
Dow Jones ^DJI  20,656.58 -4.72 -0.02%
General Mills GIS  59.36 0.42 0.71%
GoDaddy Inc. GDDY  36.665 -0.015 -0.04%
Great Western Bank GWB  41.00 1.09 2.73%
Heartland Express HTLD  19.98 -0.02 -0.10%
KemPharm KMPH  4.25 0.10 2.41%
Marsh & McLennan MMC  74.63 0.19 0.26%
MidWestOne MOFG  34.02 0.15 0.44%
Pearson PSO  7.90 -0.13 -1.62%
Pepsico PEP  111.81 -0.21 -0.19%
Principal Financial PFG  62.18 0.28 0.45%
QCR Holdings QCRH  41.90 0.60 1.45%
Rockwell Collins COL  97.32 -0.12 -0.12%
S&P 500 ^GSPC  2,345.96 -2.49 -0.11%
Tanger Factory SKT  32.24 0.33 1.03%
Procter & Gamble PG  90.78 -0.21 -0.23%
United Fire Group UFCS  42.49 -0.12 -0.28%
U.S. Bank USB  52.58 -0.02 -0.04%
Wells Fargo WFC  55.25 -0.08 -0.14%
West Bank WTBA  21.50 0.65 3.12%
Whirlpool WHR  170.18 -0.14 -0.08%
Short-Term Event Planner
     
March 23 
March Business PM - Sculpt, by the Iowa City Area Chamber of Commerce, 4:30-6:30 p.m., 105 E. College St., Iowa City. Sculpt is celebrating its five-year anniversary. All chamber members are invited for networking, drinks, hors d'oeuvres and more. Free for chamber members. For more information, call the chamber at (319) 337-9637.
 
March 24
International Entrepreneurial Summit, by the John Pappajohn Entrepreneurial Center, 7:30 a.m.-6 p.m., various locations in Iowa City, including HotelVetro and Voxman Music Building. This summit brings world experts to Iowa City to talk about opportunities for Iowa companies in the global market. This day-long event will feature Raúl Rodríguez, director of the Center for Hemispheric and United States Studies at the University of Havana. Cost: $10-15. Register for the business breakfast or panel discussion and reception at bit.ly/2l5d5vp.
 
March 27
Annual Dinner, by the Greater Washington Business Partnership, 5:30 p.m., Riverside Casino and Golf Resort, 3184 IA-22, Riverside. Join the Chamber, Main Street and WEDG for an evening of networking, special recognitions and awards, a buffet, special keynote and more. Cost: $40 per person before March 14, $50 after. Register online at bit.ly/2l5jmCE.
Headlines from CBS2/FOX 28 
These news items are provided by CBS2/FOX 28
A Vinton teenager who is now 18 has been sentenced to 60 days in jail on work release. William Hines Jr. pleaded guilty to involuntary manslaughter, interference with official acts and harassment of a public official or employee back in January. Ms. Redlinger was accidentally shot in the head at a home in Vinton on Feb. 24, 2015. Mr. Hines, who was a teen at the time, was handling the gun when it fired, hitting Ms. Redlinger in the head. She died a few days later. Jurisdiction on the case was passed from juvenile court to district court in March 2016. Mr. Hines will also be on probation for two years as part of his plea deal. 53-year-old Robyn Merchant was sentenced to nearly four years in federal prison for providing the rifle to a prohibited person.

Alan Mohr is a third-generation farmer from Ladora, Iowa, and he has spent this week doing what he can for his fellow farmers in southwest Kansas. Wildfires this month destroyed 400,000 acres of land, according to CNN. "Some people have lost their homes, their livelihood, their animals, everything," Mr. Mohr said while collecting 30 bales of hay in Linn County on Thursday. "They literally have nothing." Mr. Mohr and his wife decided to make a road trip to Ashland, Kansas this weekend with a caravan of fencing supplies and hay, two of the area's farmers' biggest needs right now. The Mohrs put out a Facebook post on Monday night to see who was interested in helping out. The ensuing response has been "crazy," said Mr. Mohr -- five truckloads of baled hay and another load of fencing supplies. Marengo Farm & Home and D&R Feed in Victor are helping out in the Mohrs' efforts.
 
T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
 
The day ahead will be cloudy with temperatures in the 40s and winds kicking around 15-25 mph. There is a low chance for a brief shower or sprinkle in the afternoon and evening with lows staying in the mid to lower 40s overnight. Rain chances increase tomorrow as a warm front moves across the central United States. The placement of the warm front is key tomorrow as highs look to be wide-ranging; highs in the north tomorrow look to be in the 50s with southern highs in the 70s -- a full 20-degree swing from today. Most of Friday will be dry but late in the afternoon showers and even thunderstorms will develop and move west to east across the state. Showers will continue on and off through the day on Saturday and eventually wind down by Sunday afternoon.