The Global Insurance Accelerator will occupy 4,000-square-feet in the Northwestern Hotel building.
DES MOINES—The pieces are beginning to fall into place for the Global Insurance Accelerator as organizers prep for its inaugural class. Mostly recently, the Accelerator has secured an office space in downtown Des Moines’ East Village.
In the coming months, the Global Insurance Accelerator will make it’s home in a 4,000-square foot space, previously used as an art gallery, on the ground floor of the Northwestern Hotel building, located at 323 E. Walnut St. in Des Moines’ East Village.
Thanks to our sponsor
The Accelerator’s interim managing director Tej Dhawan says the space’s proximity to the Technology Association of Iowa and VentureNet offices, both of which are about a block away, were selling points when choosing a space for the Accelerator.
When the Accelerator kicks off its inaugural class next year in mid-February, Dhawan says the space will function as an open office where the inaugural six teams can work as well as two conference rooms, showers and a kitchen.
The Global Insurance Accelerator was announced in early May as a collaboration between seven local insurance agencies: Principal Financial Group, Delta Dental of Iowa, American Equity Investment Life Holding Company, Farmers Mutual Hail Insurance Company, Grinnell Mutual Reinsurance Company, The IMT Group and Farm Bureau Financial Services.
In September, the Accelerator announced Dhawan as its interim managing director through the end of the 2014. And while a full-time director has yet to be named, Dhawan says the position should be filled in time to help determine the inaugural class of companies.
While applications were initially set to close earlier this week, Dhawan says the program is extending the application period through the end of the month. So far the Accelerator hasn’t seen many applicants from central Iowa, but have received applications from companies from Omaha, Madison, Chicago, New York and even a number based overseas, Dhawan said.
While the program will accept up to six companies, Dhawan (right) says it’s also possible they will choose fewer.
“The goal is to pick those who have a chance to market their product to insurance sector,” he said.
Yet another company selling life insurance on a marketplace? They’re probably not going to make the cut.
The 100-day program will conclude with what Dhawan says will be called Industry Roadshow Day during the Global Insurance Symposium, held each May in Des Moines.
“If you walk into a room and pitch to 300 or 400 potential customers and make it, you made it. And if you don’t, you need to rethink your strategy,” Dhawan said of hosting the Accelerator’s demo day equivalent during the Symposium.
“Unlike what we saw at the (Iowa Startup Accelerator) and Sprint Accelerator, this is not so much a public celebration of what happened, this is a step in the marketing and sales direction.”
As for involvement in the Accelerator from the local entrepreneurial community, Dhawan says he isn’t sure what the level of interaction will be between the two.
“I suspect there will be a lot of 1 Million Cups interaction, but it all depends on the companies that come in and what they do,” he said.
Dhawan notes other events like the Technology Association of Iowa’s TechBrews or Lunch and Learns at Gravitate as potential places for interaction and collaboration. But ultimately he says its up to both groups to make an effort: “I think part of it is going to be both sides trying to come together and do stuff together.”
Read more about the Global Insurance Accelerator through our previous coverage: “Tej Dhawan named interim director of Global Insurance Accelerator“
3 responses to “Global Insurance Accelerator finds a home in the East Village”
I’m really excited for this; can’t wait to see the companies it brings to town!
Congratulations Tej and everyone. This will be great!
Really neat concept driven by the private sector.