Grinnell College is putting up an undisclosed amount of money over the next three years to support a Des Moines-based business “accelerator” — and help up to 30 entrepreneurs take their start-ups to the next level.

Jainen Thayer  is the chief investment officer for Grinnell College.

He says Techstars Iowa will help create a stronger “start-up economy” in the state — but Grinnell expects to reap income from the investments it makes in these new businesses.

Recent estimates indicate Grinnell College has a two BILLION dollar endowment and it finances about 55 percent of Grinnell’s operating budget.