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
Primed for HQ2? Gardner area was made for Amazon, Kansas legislator says
Plans for bringing Amazon’s HQ2 to Southwestern Johnson County were laid in the 1800s, Bill Sutton said. “As soon as the (Santa Fe, Oregon, and California) trails divided here, all of this was in the cards,” said Sutton, a Kansas state representative whose district encompasses Gardner and Edgerton. “If the trails divided here, then guess…
Ag tech startup Farmobile raises $18M round for global expansion
Ag tech company Farmobile has reaped a substantial Series B funding round that positions the firm to rapidly accelerate across the world. The Overland Park-based company announced Friday that it raised $18.1 million to expand its data platform to help farmers mitigate risks and generate a revenue from the data they own. The round includes…
10-year-old Leawood inventor in the running for $250K
Kansas City entrepreneurs are known for their Midwestern hospitality, collaborative nature and humility. And each of those traits are expressed by 10-year-old inventor Julia Luetje of Leawood, whose entrepreneurial spirit is now on the national stage as part of a Frito-Lay’s Dreamvention competition. “I invented the Storm Sleeper because I used to be afraid of…
Face it: Zoloz tech lets you to pay with a smile
With a recently revealed new brand and broader strategic focus, Kansas City-based Zoloz is expanding its biometrics security offerings to include another unique human attribute: a user’s face. Formerly known as EyeVerify, Zoloz unveiled three new products — Zoloz Connect, Real ID and Smile — that CEO Toby Rush said will ensure trust and security…