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
Entrepreneurial foundation names local ‘startup champion’ as director
The Kansas City Startup Foundation’s year-long search for a new executive director ended right where it began. The foundation — whose mission is to unify Kansas City’s startup and entrepreneur community — recently hired Matthew Marcus as its executive director. Marcus, who most recently served as the foundation’s chairman, will begin his tenure in May. “It’s…
How wearables could change America’s pastime and Amazon’s big oops
In this week’s roundup of watercooler talk from the region’s startup hubs, we have the dish on Major League Baseball wearables, Amazon’s flub with expanding the digital divide and Chicago’s STEM workforce issues. Check out more in this series here. Mobile Commerce Press: Major League Baseball gives the nod to wearable technology No, this doesn’t…
The red carpet, garageband and laboratory of funding models
Editor’s note: The opinions expressed in this commentary are the author’s alone. “Funding! Funding! Funding!” It’s the warrior’s cry of the startup community. In the world of entrepreneurship, there’s an incredible amount of pressure to run a startup that can be described as “disruptive,” “innovative” and “scalable.” Those descriptions come with a hefty price tag,…
Kauffman Foundation CEO serves up 5 policies for entrepreneurial growth
Adaptation, experimentation and research. No, those aren’t tips to run a startup. Rather, they’re a few of the recommendations for lawmakers to consider if they’d like to spur nationwide entrepreneurial growth, according to Wendy Guillies, CEO of the Ewing Marion Kauffman Foundation. Now nearly a year into her tenure as CEO, Guillies recently presented five…