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
KC’s Smart City ‘Living Lab’ to tackle domestic terrorism threats
Since 2013, more than 160 active shooter situations have taken place in the United States. Imagine for a moment if those events could be prevented or mitigated through the use of technology, such as drones, social media analysis and other sensors. That future is closer than ever according to leaders of Kansas City’s Smart City…
A vibrant arts culture leads to innovation and why hometown investors are vital
Here’s this week’s dish on why the arts community shouldn’t be a benched player on the sidelines of a city’s economy game; the importance of hometown investors to thriving startup communities; and what universities are doing to keep the talent pipeline strong for an entrepreneurial future. Check out more in this series here. The Atlantic…
ClaimKit snags $1.8M from local VC Flyover Capital
Insurance tech startup ClaimKit is tapping an area venture capital fund to help launch its second software offering that quickly analyzes policies. The company raised $1.8 million to launch RiskGenius, which helps to identify and categorize insurance clauses in commercial policies. Leawood-based venture capital firm Flyover Capital led the round, which included participation from the…
Arredondo: The Economist documentary, recent press great for Kansas City
It’s no secret that I’m a total homer for Kansas City. I truly believe that we have the opportunity and ability to become a world-class, 21st-century city. With that being said, I’ve been known to hyperbolize when it comes to the promise I see in Kansas City. But recently, our city has sold itself with…