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
Events Preview: GUILDit, Second Fridays
There are a boatload of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter or curious Kansas Citian, we’d recommend these upcoming events for you. WEEKLY EVENT PREVIEW GUILDit When: August 11 @ 6:30 pm – 7:30 pm Where: Uptown Arts Bar GUILDit is a gathering that helps craft…
A ‘Doodle’ in the rough: Ben Kittrell unearths a global business
What initially began as a desire to help his friends build websites has now blossomed into a startup with a booming international presence for Doodlekit co-founder Ben Kittrell. And it took gaining thousands of users a month to give Kittrell a wake-up call that it was time to refocus on a business he often let…
5 considerations for startups grappling with new overtime rules
Editor’s note: This column was co-written by EBCFO founder Dan Schmidt and Mark Opara, a general business and corporate law attorney at Seigfreid Bingham. The authors’ opinions are theirs alone. Low pay, long hours, and maybe some future benefits — it’s the startup way! In early stage companies, it’s a tradeoff of current pain…
Pennez wants to turn the page on youth illiteracy with AI app
If you’re reading this, congratulations, you’re literate. Statistically, this is something to be proud of as 773.5 million people are illiterate around the world. It also means that you’re more likely to have a higher-paying job and be able to more fully participate in society. Rebecca Dove, a former elementary school teacher, saw first-hand that…