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
Unearthing Kansas City’s startup gems (with your help)
Last week, Startland News published its Top 10 startups and four honorable mentions to watch in 2016. By and large, the piece has been well received with thousands of readers issuing kudos to startups that made the list. But as with any subjective “Top 10-whatever” list, we expected grumbles about the worthiness of the startups…
‘I’ve been breaking bureaucracies for 24 years’ Kansas City’s new CIO opens up
There’s a new hand at the helm of Kansas City innovation, and it belongs to that of Bob Bennett. A 24-year veteran of the U.S. Army, Bennett kicked off his tenure as the second-ever chief innovation officer of the City of Kansas City, Mo. on Jan. 1, taking the lead on an array of civic…
Advisors, role models and the importance of ‘champions’
“What types of support relationships do you find beneficial as a startup founder?” I asked a group of six women founders this question as part of a whiteboard conversation conducted last year by WhiteSpace Consulting and Startland News. Their answers reveal a broad range of support relationships, including one that is a must-have for every…
Crowdfunding law has changed, here’s what you need to know
Editors note: This piece was originally published Jan. 7, 2016. The Securities and Exchange Commission’s expanded rules for equity crowdfunding went into effect May 16. This past October, the SEC unveiled its final equity crowdfunding regulations set to take effect May 16. For the first time in the U.S., entrepreneurs will be able to…