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
Melissa Roberts: How an Olathe hate crime affects your tech business
Editor’s note: The opinions in this commentary are the author’s alone. In the startup world, outside the Facebook echo chamber, it can be hard to see how political trends impact your business. I understand why. When you’re struggling to weed through the constant churn of working the problem, identifying a new problem and working that…
Events Preview: Conquer for Good, TEDxUMKC
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Feel free to add it to the FWD/KC calendar for increased exposure. Once your event…
Jaguar Land Rover invests in artificial intelligence startup Mycroft
Mycroft has received a significant boost in horsepower. Only a few weeks after entering 500 Startups, Mycroft has landed a strategic partnership with Jaguar Land Rover. The Kansas City-based artificial intelligence startup is among the first startups to enter the Portland-based Jaguar Land Rover Tech Incubator, which will provide Mycroft with a $110,000 investment and…
KC-based OYO Fitness closes a historically successful Kickstarter
To say that OYO Fitness has a successful Kickstarter campaign would be an understatement. The Kansas City-based fitness firm folded up and then crushed its recent crowdfunding effort, which raised a stunning $659,000 for its collapsible and compact exercise device. OYO’s DoubleFlex Black campaign — which snagged pre-orders from 4,200 backers — was the second…