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
Meet five creators and innovators from the Maker Faire KC
In its sixth year, Maker Faire Kansas City welcomed thousands of attendees of all ages from across the nation to Union Station on June 24 and 25. The event featured over 350 makers and garnered sponsorship from local firms such as the Ewing Marion Kauffman Foundation, Missouri S&T, JE Dunn, Cerner, KCPT, the Neighborhood Tourist…
Forbes report: Kansas City is a top 5 metro for high-wage jobs
Kansas City is atop yet another national list touting its economic vibrancy. Forbes recently released a report analyzing U.S. cities that create the most high-wage jobs, and Kansas City earned the No. 2 spot. The magazine said the City of Fountains’ low taxes and pro-business regulatory environment helped launch it into the top five cities…
Kansas City legal startup returns with WeWork award, $18K
A co-founder of Kansas City-based Venture Legal is departing from Austin, Texas, on Wednesday with a little more coin in his pocket. Chris Brown traveled to Austin to pitch his company Venture Legal as a finalist for WeWork’s Creator Awards’ South Regional on Tuesday and delivered the winning video pitch in the “Incubate” category. Beating…
Revamped Sprint Accelerator graduates its first cohort of agriculture, digital tech startups
Now in its fourth year, the Sprint Accelerator on Tuesday held a demo day showcasing the seven companies in its 2017 cohort that recently graduated its program. The cohort represents the first graduating class for the corporate partnership-based accelerator program since it parted ways with Techstars, with which it conducted three years of programming. Thanks…