TUESDAY, JULY 3, 2018  |  IN THIS ISSUE

FarrPro co-founders Amos Petersen and Chris Hanson meet with Gov. Kim Reynolds after a presentation in October 2017. PHOTO Cultivation Corridor
FarrPro, an Iowa City-based agtech startup and member of the 2017 Iowa AgriTech Accelerator's inaugural class, announced this week the completion of its investment seed round and raising of the "necessary capital to support ongoing development" of the company's flagship Haven product.

Iowa-based Grinnell Mutual is lead investor. Farmers Mutual Hail Insurance Company of Iowa, Iowa AgriTech Investment Fund and a small group of angel investors hold the remaining positions in the round.

Though FarrPro has successfully completed the subscribed portion of this round the company has chosen to keep the round open to industry-specific strategic partners through the end of October 2018. The total amount of the raise was not disclosed.

"We have an incredible group of investors participating in the round - individuals and organizations that have been, and will be, key to our success," said co-founder and CEO Amos Petersen. "We're humbled by the strong response to our offering, and are eager to start working with our investors and strategic partners to create transformative solutions for the pork industry and animal agriculture as a whole."

FarrPro focuses on creating innovative solutions for livestock providers who want to improve the health and welfare of their animals. The company's Haven product creates a microclimate for piglets that evenly distributes heat and light along the creep wall of a farrowing crate. The result is a safe, energy efficient environment for optimal piglet growth and improved sow comfort.

The company also announced the addition of David Raduechel and James Wetzel to its team. Mr. Raduechel joined FarrPro in April 2018 as CFO and director of operations. He holds a degree in finance from the University of Iowa and has served in COO and CFO positions for two multimillion-dollar corporations, according to the company.

Mr. Wetzel joined FarrPro last month as director of research and development. He earned his Ph.D. in experimental particle physics from the University of Iowa.

For more information on FarrPro, visit the company's website.
Para2 Focus on research expanded in search for new UI vice president

The University of Iowa will refocus the scope of the Office of the Vice President for Research (VPR) when it hires a new vice president, shifting the role of economic development elsewhere within the university.

After the departure of Vice President for Research and Economic Development Daniel Reed in October 2017, the university, led by a search committee of broad campus representation, hosted two open forums to gather feedback on the department's structure. The university eventually decided to return the department to its roots, emphasizing the urgency of finding fresh and innovative ways to support research and scholarship in a rapidly shifting academic and federal landscape.

Currently held on an interim basis by Graduate College Dean John Keller, the VPR position provides central leadership to the university's research, scholarly and creative programs.

UI President Bruce Harreld said the new vice president for research will work to support existing and emerging economic development activities on campus. But, because research and economic development are such important endeavors in their own rights, the university will be best served by separating them.

Mr. Harreld said his office is working with campus leaders to determine next steps for coordinating economic development units and activities, which include UI Ventures (assists faculty in launching businesses), Protostudios (an advanced prototyping resource), MADE (a platform for bringing medical devices and other inventions to market more quickly), the UI Research Park, the UI Research Foundation, and the activities of the John Pappajohn Entrepreneurial Center, among others.

"Economic development is a natural outgrowth of research but requires different tools and skills," Mr. Harreld told IowaNow. "We need to focus our vice president for research on developing innovative ways to support faculty in their discovery efforts and developing equally robust approaches for fueling innovation."

Aliasger Salem, the Bighley Chair and Professor of Pharmaceutical Sciences and head of the Division of Pharmaceutics and Translational Therapeutics at the UI College of Pharmacy, and David Gier, director of the School of Music and Erich Funke Professor in the College of Liberal Arts and Sciences, are co-chairing the search. Search firm Isaacson, Miller is developing a list of prospective applicants for the position.

Mr. Salem said that in writing the position description and considering the university's new budget model, the committee will be searching for candidates who are especially adept at encouraging and supporting interdisciplinary research. Significant strides were made in this direction during Mr. Reed's tenure through the launch of ideation events, the Creative Matters lecture series, and a new Research Development Office, he added.
Para3 Report: In-flight connectivity boom has begun

PHOTO Rockwell Collins
The number of commercial aircraft offering in-flight connectivity to their passengers will triple by 2027, according to a new report.

More than 23,000 commercial aircraft will offer in-flight connectivity to their passengers by 2027, up from 7,400 last year, according to a report from market research firm Euroconsult. That will mean about 60 percent of commercial aircraft will offer in-flight connectivity, according to the report, which consolidates forecasts made by connectivity hardware and service companies.

Rockwell Collins in Cedar Rapids is a major supplier of in-flight connectivity solutions.

Revenues for airline connectivity suppliers already top $1.2 billion, and should reach $8.7 billion by 2027. Meanwhile, passenger experience is expected to improve with air-to-ground networks and satellites providing greater bandwidth.

The report describes the current period as a take-up phase in which airlines are seeking the right pricing model, be it a monthly subscription, hourly fee or per-flight fee.

Beyond cabin connectivity, Euroconsult said the next decade will see the full emergence of the SmartPlane concept, with aircraft enabled to support such IT trends as big data, analytics, the internet of things and cybersecurity.

Steve Beck, president and CEO of SantosHuman. located in the University of Iowa's BioVentures Center, says the company's human-centric approach to product design can save manufacturers millions in lost time and costly redesign.
Manufacturers spend millions building better mousetraps, but rare is the company that stops to consider the mouse.

Enter SantosHuman, the Coralville-based "niche market engineering software" spinout that aims to turn the traditional product design and engineering process on its head by encouraging manufacturers to take a close look at the mice - in this case, the world of potential end-use customers - before ever committing pen to paper or plan to prototype.

"Find something that somebody manufactures that doesn't ultimately require human interaction - you can't do it," said Steve Beck, president and CEO of SantosHuman, which claims to offer
"the only software on the market that can predict human performance based on the physics of the human body."

"You would not believe the amount of effort that goes into the design of a light bulb, because it seems silly, but somebody's got to screw that sucker in," Mr. Beck said, adding that his company's technology, which uses predictive mathematical modeling of human strength, fatigue, flexibility, balance, vision and posture, as well as external factors such as environment, clothing and gender, can help.

Spun out from the University of Iowa's Virtual Soldier Research program founded in 2003 by Karim Abdel-Malek, SantosHuman builds on a system first created to help the U.S. military test vehicles and weapons in the virtual world instead of out in the field. Now, though, in addition to helping the military save millions on tanks, the technology is helping manufacturers better design everything from heavy machinery and automobiles to detergent bottles and everyday consumer goods.

"Everybody that makes anything that ultimately requires human interaction should be using our software," said Mr. Beck. "We can look at the human-centric components of a design at the earliest stages of product development, so that we can inform and support decisions at those stages when change is still an option."

Unlike competing digital human models in the marketplace, which rely on pre-recorded motion capture data, SantosHuman's model is physics-based; its avatars behave as autonomous humans capable of predicting real-life interaction with products and processes. The difference allows for a multitude of simulations under different conditions as well as differences in human size, mobility, range of motion or strength.

Read the full story at corridorbusiness.com.  

The purpose of the CBJ's annual Cyber Security Breakfast is to have an earnest discussion about the threats impacting local businesses and help attendees mitigate risks for their organizations.

New technology comes with threats to yourself, your company and your customers' data, making it vital to manage these risks.

To help us build a cyber security presentation that speaks to your unique needs, please take a few minutes to fill out this brief, eight-question survey.

Save the Date: The annual Cyber Security Breakfast will be held from 7:30-9:30 a.m. Wednesday, Sept. 5 at the Coralville Marriott. Tickets are $40. For more information or to register, visit corridorbusiness.com/events.
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stockCorridor Stocks

NAME
SYM PRICE CHG %CHG
AEGON AEG 5.86 -0.02 -0.34%
Alliant Energy  LNT 42.99 0.28 0.66%
Deere & Company DE 140.24 -0.92 -0.65%
Dow Jones ^DJI 24,174.82 -132.36 -0.54%
General Mills GIS 43.53 0.09 0.21%
GoDaddy Inc. GDDY 71.71 -0.75 -1.04%
Great Western Bank
GWB 42.18 -0.01 -0.02%
Heartland Express HTLD 18.97 0.18 0.96%
KemPharm KMPH 6.40 -0.10 -1.54%
Marsh & McLennan MMC 82.55 0.31 0.38%
MidWestOne  MOFG 34.33 -0.03 -0.09%
Pearson PSO 11.67 0.09 0.78%
Pepsico PEP 108.80 -0.73 -0.67%
Principal Financial  PFG 53.23 0.37 0.70%
QCR Holdings QCRH 48.65 0.20 0.41%
Rockwell Collins  COL 135.09 -0.09 -0.07%
S&P 500 ^GSPC 2,713.22 -13.49 -0.49%
Tanger Factory  SKT 23.72 0.29 1.24%
Procter & Gamble  PG 77.90 -0.23 -0.29%
United Fire Group UFCS 55.61 0.33 0.60%
U.S. Bank USB 49.97 -0.44 -0.87%
Wells Fargo  WFC 55.56 -0.76 -1.35%
West Bank WTBA 25.65 0.05 0.20%
Whirlpool  WHR 146.15 -0.79 -0.54%

Short-Term Event Planner
       
July 5
Open Coffee, by Washington Chamber of Commerce, 8-9 a.m., Dodici's Shop, 120 S. Iowa Ave., Washington. Join an open discussion about fostering creativity, innovation and entrepreneurship in Washington. Free. For more information, visit chamber.washingtoniowa.org or call (319) 653-4712.

July 6
First Friday Coffee Connections, by Iowa City Area Chamber of Commerce, 7:30-8:30 a.m., Corridor Dental, 2345 Landon Road, Ste. 300, North Liberty. Network with business professionals on the first Friday of every month. Free. For more information, visit bit.ly/2tiI1u9.

Government Contracting Opportunities Workshop, by SBA and Iowa SBDC, 10:30-11:30 a.m., Kirkwood Small Business Development Center, 1770 Boyson Road, Hiawatha. This
workshop will include an overview of the SBA's Business Development Program as well as explore government contracting opportunities for small businesses. Free. For more information and to register, visit bit.ly/2KjwdTb.

July 9
Coralville Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., Twelve01 Kitchen and Tap, 1210 First Ave., Coralville. Roundtables are social lunches over the noon hour. All are invited to network and keep up-to-date with chamber and community events. Free for members. Call the chamber at (319) 337-9637 if interested and not a member.
Headlines from CBS2/FOX 28 
These news items are provided by CBS2/FOX 28 
Where's Waldo?  Chances are you've tried to find him before as a child, and this summer you have the opportunity to bring your kids along a journey to find him around Iowa City while introducing yourself to businesses you may not have otherwise been.  In the month of July, Iowa City-based bookstores Iowa Book and Prairie Lights are hosting a scavenger hunt for Waldo around 30 Iowa City downtown businesses. It's part of an annual initiative to encourage children to visit independent bookstores and for the adults in the family to shop locally.  Participating businesses will have a Waldo window cling on their storefront. Children can then go inside to find a Waldo statuette hiding on the shelves or among the merchandise. After the child spots Waldo, they can collect a coupon signed by the business owner. After collecting 15 coupons, the child can receive a pin, and enter to win a Where's Waldo? boxed set.  "Bookstores were really hit hard by online shopping," said Matthew Lage, general manager of Iowa Book. "Then after bookstores, other retail stores; shoe stores for example. Clothing stores. So this is basically a way of trying to level that playing field."  Over the past six summers they've held the event in Iowa City, people have stuck around in the businesses even after the search for Waldo is over.  "They'll immediately point him out," said Jamie Skinner, owner of Molly's Cupcakes. "Afterwards their parents usually want to get them in and out ... but of course they want to stick around and hang out and eat cupcakes. And that's great for me, because we love when the kiddos hang out here."  The prize drawing takes place August 1st.

A now-closed Cedar Rapids elementary school is getting a second chance with a new purpose.
Six years after it closed in 2012, Monroe Elementary School is now Monroe Place--a 19-unit apartment building.  "We wanted to ensure that when you drove up to it, you knew it was still a school. When you walked into it, you knew it was still a school," said Kim Gordon, the Affordable Housing Network's director.  While the exterior and the hallways inside of the building remain the same, what's behind once-classroom doors looks completely different. Monroe Place offers two, three, and four bedroom apartments, which are converted from individual classrooms. The Affordable Housing Network team spent six years preparing the building for new tenants.  "Originally, we were going to do a larger property than what we are currently doing," said Ms. Gordon.  In addition to the 19 apartments - one of which is a loft - Monroe Place also offers a dog park to match its pet-friendly feel and a playground.  "It's unique. This is definitely something we haven't done before," said Ms. Gordon about the entire refurbishing project.
  
T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
 
Heat and humidity will be increasing today after a nice break the last two days. There will be plenty of sunshine today and temperatures will warm into the upper 80s. With higher humidity today, heat index values will be between 95 to 100 degrees.  It gets even hotter tomorrow, the 4th of July, and heat indices between 95 to 105 will be possible. There will be a mix of sun and clouds during the day and temperatures will be near 90. There is just a slim chance for an isolated shower or storm in the afternoon. Otherwise it will be warm and muggy for outdoor activities and firework displays.  The higher chance for rain comes early Thursday as a cold front moves through the area. This will break the little heat spurt and temperatures will be down in the low to mid 80s through the end of the week and into the weekend. Humidity will be lower, too, and it will be pleasant this weekend.