AMES, Iowa (Oct 5, 2022) – The Iowa State University (ISU) Startup Factory today announced the Iowa Economic Development Authority (IEDA) Board has awarded Janas Materials Inc. a $25,000 Proof of Commercial Relevance (POCR) loan as recommended by the Technology Commercialization Committee. The funds will be used for IP development and evaluation, proof of concept work and product refinement. Janas Materials is a member of the Startup Factory’s Cohort 10 which graduated from the program in December 2021.
Janas Materials is an ISU spin-off developing a sustainable technology for the coating industry to improve the appearance and application of water-based wood stains.
According to Janas Materials Co-Founder Shan Jiang, the startup has developed novel additives that can be mixed into commercial water-based wood stain products, drastically improving the color consistency and providing wood-stain producers a safer and more environmentally-friendly product over traditional oil-based stains.
“Our nanoparticle technology aims to revolutionize the commercial wood stain industry by eliminating the lapping issue currently seen in water-based stains,” Jiang said. “Oil-based stains do not experience the same lapping issue but have serious safety and environmental concerns. By using our new additive that eliminates lapping, wood stain producers can switch over to manufacturing more environmentally-friendly water-based stain products without concern of compromising product quality.”
With this enabling $25,000 award from the IEDA Board, Jiang said Janas Materials will be poised to develop capacity to thoroughly benchmark the technology with a strategic customer in a commercial product.
Janas Materials is a Cohort 10 member of the ISU Startup Factory, a 16-week startup incubator operated by the ISU Pappajohn Center for Entrepreneurship, and a Cohort 3 member of the Iowa Go-to-Market (G2M) accelerator program. The G2M accelerator, enabled by a grant from the U.S. Economic Development Administration, is operated by the Startup Factory in partnership with BioConnect Iowa and VentureNet Iowa. Through the programs, the company has received formal training through curriculums centered on business validation, customized mentoring, resources and access to a network of business mentors, advisors, counselors and investors.
In this round, the IEDA Board approved awards for two companies, which will assist in the creation of 133 jobs and result in nearly $24 million in new capital investment for the state. The board also approved innovation funding in support of four startups located in Ames, Brighton, Clive and Wayland.
About Janas Materials Inc.
Janas Materials Inc., an ISU spin-off founded by Dr. Shan Jiang, Dr. Jibing Lin, Dr. Yifan Li and Rebecca Mort, is developing a sustainable technology for the coating industry to improve the appearance and application of water-based wood stains. For more information, contact Jibing Lin at email@example.com.
About ISU Startup Factory
The Iowa State University (ISU) Startup Factory is a 16-week startup incubator operated by the ISU Pappajohn Center for Entrepreneurship. Entrepreneurs in the Startup Factory receive formal training, resources, and access to a network of business mentors, advisors, counselors, and investors. For more information on the ISU Startup Factory program, visit https://www.isupjcenter.org/programs/isu-startup-factory/.
About ISU Pappajohn Center for Entrepreneurship
Located in Iowa State University’s Research Park, the Pappajohn Center for Entrepreneurship serves as a bridge among the university’s entrepreneurship courses, experiential learning opportunities, and venture creation resources. Founded under the premise that the center’s primary mission is to support and develop entrepreneurs in Iowa, the Iowa State Pappajohn Center for Entrepreneurship offers programs and services that broadly reach and connect students, community entrepreneurs, business professionals, and alumni. For more information, visit isupjcenter.org.