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: Athena League, Village Fall Fest
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 Athena League October VOX When: October 15 @ 5:30 pm – 7:30 pm Where: C2FO Join us for our October VOX, All…
Blooom to expand with $4M Series A
Financial tech firm Blooom is blossoming into a local startup success story. The Leawood-based company announced Thursday that it raised $4 million in a Series A round to expand its operations. QED Investors from Alexandria, Va., led the round, which also included DST Systems Inc., Commerce Ventures, Hyde Park Venture Partners and UMB. Blooom created an online…
Report: KC needs (a lot) more venture capital
The Kansas City Area Life Sciences Institute released a report that says Kansas City needs more venture capital for its biotech industry. Just how much venture capital? That is up for debate. Wayne Carter, Life Sciences Institute CEO, said $100 million is the common amount thrown around in conversation regarding Kansas City’s need, and while…
90 on the Clock with ShotTracker
90 on the Clock with ShotTracker By John McGrath, KCPT, and Bobby Burch, Startland News Ed’s Note: Flatland and Startland News have partnered to highlight Kansas City’s innovators and entrepreneurs, all in 90 seconds. This is the third episode in the five-part series. From propelling the game’s emergence in the early 1900s to honing hall of fame players like…