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
Blooom announces layoffs, new strategic focus on consumers
Refocusing its outbound efforts to solely target consumers, financial tech startup Blooom has laid off nearly a third of its staff and a top executive has resigned. The Leawood-based company recently announced that it has let go of 10 employees as it moves resources away from marketing to enterprises and will refocus on direct-to-consumer marketing.…
Report: KC is a tech hub but labor shortage is hampering growth
Each day, Kansas City is better positioning itself to be the Midwest’s tech hub. But for Kansas City to realize its full potential, tech leaders, policymakers and the community need to do more to cultivate homegrown talent, KC Tech Council president Ryan Weber said. “Attracting talent from another city is a very small game — and…
KC tech startup partners with Children’s Mercy to help diagnose, manage care
Kansas City-based Engage Mobile Solutions developed a mobile app assisting pediatricians at Children’s Mercy Hospital, treating children facing acute illnesses and injuries. The tech firm created “CMPeDS: Pediatric Decision Support” to provide healthcare professionals with evidence-based guidelines to manage patients who are facing acute illnesses such as infections, or children who are experiencing acute injuries,…
UMKC eyes ‘final four’ of Enactus contest attracting thousands of student entrepreneurs to KC
Kansas City will soon become the entrepreneurial epicenter for a national, collegiate competition and conference challenging young innovators to do good in their communities. From May 21 to 23, Kansas City will host more than 2,000 entrepreneurial college students for the Enactus United States National Exposition. Founded in 1975, Enactus challenges students from more than…