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
Kauffman Fellows to foster KC, Midwest investor expertise via $960K effort
In an effort to cultivate venture capitalists in the Midwest, the Ewing Marion Kauffman Foundation will award a dozen of scholarships valued at a total of $960,000 for its investor program, Kauffman Fellows. And Kansas City is set to be the biggest beneficiary. During the Kauffman Fellows’ annual summit, the foundation announced that will dish…
Kauffman Foundation issues a challenge to grow KC accelerators
The Ewing Marion Kauffman Foundation believes business accelerators have the opportunity to bridge a gap between capital and entrepreneurs. That’s why the foundation announced a new grant initiative Friday that hopes to spur more accelerator-like organizations in Kansas City. And applications are now open, and proposals are due by Jan 13. Starting Nov. 16 during…
Startland gets personal with Davyeon Ross, John Fein and Greg Kratofil
Startland News exists to share the stories of innovation that happen every day in Kansas City. But while we try our best to give you updates as they come, it is rare that all the details of the news we produce are included in the stories we publish. That’s why editor-in-chief Bobby Burch led Startland…
How the Mighty Handle evolved from an idea to a hit product
Startland News and the Kansas City Star have partnered to publish content as part of the Star’s new special section, “Spirit.” This story will appear in the Star’s Oct. 23 Sunday edition. Not all innovation is high tech. And while the development of any particular technology is distinct, there remain consistent principles of how to…