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
Troost revival: Can a brewpub, retail and 670 housing units mend racial divide?
No turning back now, Ilan Salzberg said. “This is real,” the Wonder lofts developer laughed, gesturing at the freshly installed kitchen cabinetry and hardware in a model apartment unit at 30th Street and Troost Avenue. Wonder is expected to be the first of three major residential developments to open between 27th Street and Armour Boulevard…
LaunchCode wins MIT Innovation challenge, $150K award
LaunchCode, a nonprofit that bolsters the tech workforces in St. Louis and Kansas City by offering free but rigorous coding courses, was recently recognized for its innovative approach to reinventing the future of work. The Massachusetts Institute of Technology announced that LaunchCode is a grand prize winner of its 2017 Inclusive Innovation Challenge, awarding the…
Pipeline receives up to $2M from Kauffman Foundation grant
Pipeline Entrepreneurs announced Tuesday that the fellowship program is deepening its relationship with the Ewing Marion Kauffman Foundation and receiving a challenge grant of more than $2 million over the next four years. The grant amount is dependent upon private fundraising with the foundation matching dollar-for-dollar, a release said. Launched in 2006, Pipeline offers an…
KC entrepreneurial educator: ‘Zip code shouldn’t determine success’
Entrepreneurship education should begin as early as kindergarten, said Rachel Foster. “The younger my students are, the more creative they are, and the less the world has had time to tell them that it’s ‘not possible’ or ‘you can’t do that,’” said Foster, entrepreneurship teacher at Lee A. Tolbert Community Academy. “If we are able…