Deadlines approach for $100K, $500K co-investment opportunities for MO startups
October 12, 2017 | Meghan LeVota
It’s easy to form an idea. It’s more difficult to take it to market.
The Missouri Tech Corporation’s IDEA Funds seek to facilitate the commercialization process for high-tech Missouri technologies, via a variety of co-investment opportunities.
The IDEA Funds divide financing into four components that correspond to four stages of growth for entrepreneurs, from pre-investment to high-growth enterprises. For the Missouri TechLaunch and Seed Capital Co-Investment Program, applications are now open, with a Nov. 15 deadline.
The Venture Capital Co-Investment Program and the High-Tech Industrial Expansion Program are not taking applications in November.
MTC’s future is uncertain. The agency’s budget was cut substantially from nearly $23 million in 2017 to $3.4 million in spending authority for 2018.
More recently, Missouri Gov. Eric Greitens’ office released a report suggesting MTC existing programming be replaced with a privately-managed innovation fund.
Here’s more about the funding opportunities:
MTC will award pre-seed funding — no more than $100,000 per individual award — to Missouri startups that are committed to a discovery in one of the following high-tech industry clusters: animal health, plant science, biomedical science, applied engineering, or defense and homeland security.
Startups must have less than 500 employees and will be evaluated on their market potential, proof of concept and intellectual property development. Applicants must also be in partnership with a Missouri research university or inst ution, or be willing to establish one. For more information about the opportunity, click here.
Seed Capital Co-Investment Program
High-tech startups that have succeeded in proving concept, but need access to seed capital might be eligible for the Seed Capital Co-Investment program.
With a maximum funding amount of $500,000 per individual, this grant is designed to accelerate private investment in Missouri companies who are looking to conduct competitive analysis, advanced prototype design and other advancements of intellectual property development.
Eligible applicants must have a committed leadership team, a third-party investment commitment and a viable plan. To apply, click here.
Featured Business
2017 Startups to Watch
stats here
Related Posts on Startland News
Andy Stoll: Entrepreneurial ecosystem answers aren’t inside the Kauffman Foundation
Editor’s note: This content was sponsored by the Ewing Marion Kauffman Foundation but independently produced by Startland News. Acting in a Bollywood film. Pie making on Armenian television. Cooking on a dude ranch in Australia. Sewing in a dress factory in Bangkok. Farming maize in Zambia. Each revealed a lesson and mission for Andy Stoll.…
Rx Savings secures $18.4M funding round, nears 2 million members
An $18.4 million funding round is the prescription Rx Savings Solutions needs to expand its fight against a crippling, yet common ailment, said Michael Rea. “Everyone in the nation has the same problem — high drug costs — and most people don’t know there are options to save money,” said Rea, founder and chief executive…
Before prime time: Did Amazon’s 1999 arrival in Kansas deliver on hype?
In 1999, Amazon — still in its infancy — meant only two things to most consumers: low-priced books and CDs. But for one small town in Kansas, residents believed the online retailer had the potential to be a game-changer for their economically depressed, rural community. “People in Coffeyville were practically doing cartwheels in the streets,” said…
FCC head: Repealing net neutrality will boost innovation, investment; startups disagree
The Federal Communications Commission is preparing to eliminate regulatory rules that prohibit internet service providers from interfering with consumers’ access to web content. FCC chairman Ajit Pai announced in a Wall Street Journal op-ed that the regulatory body will vote Dec. 14 to repeal 2015 Obama-era regulations. That regulatory model, referred to as Title II,…