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 smart city ‘an invitation’ to innovators, entrepreneurs
The City of Kansas City, Mo., has signed an agreement with Sprint and Cisco to create the largest smart city in North America in the City of Fountains. Sprint will be building a network of connectivity worth up to $7 million dollars while Cisco will be providing smart city infrastructure worth upwards of $5 million. The…
Startup Little Hoots working with Today Show, Huffington Post
Kansas City-based Little Hoots has scored two high-profile partnerships that are scoring its memory-saving app thousands of additional downloads. The tech firm is working with the Today Show and the Huffington Post to provide snippets from its memory-keeping platform that captures youngsters’ memorable quotations to share with friends and family. “Whenever they publish one of these Little Hoots…
RECAP: 1 Million Cups panel offers decision-making advice
Three entrepreneurs took the stage at 1 Million Cups this week to offer advice on navigating the tough world of entrepreneurship. Alex Altomare, co-founder of BetaBlox, Linda Buchner, co-founder and president of Minddrive, and Ben Kittrell, co-founder and CTO of Doodlekit, all spoke about the variety of hard choices entrepreneurs face. On handling tough decisions……
Sprint Accelerator startup raises $85K (and counting)
Hidrate, a startup at the Kansas City-based Sprint Mobile Health Accelerator, rapidly surpassed its fundraising goal before a pitch to investors and nearly 2,000 Kansas Citians. The Minneapolis-based company’s Kickstarter campaign has already raised nearly $85,000 in two days, which more than doubles its goal to fundraise $35,000 in 42 days. Hidrate created a Bluetooth-enabled water bottle that tracks…