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
Recap: Bill would gut Kansas Bioscience Authority
A bill in the Kansas legislature if passed would dissolve the Kansas Bioscience Authority, which has recently served as a venture capital organization investing in early-stage bioscience firms. The measure — SB 305 — would shut down the organization and transfer its funds and obligations to the Kansas Department of Commence. Proponents of the KBA say…
Kansas City named a top tech locale
Kansas City again was touted as a top tech destination. Tech publication PC Magazine recently named Kansas City as one of “13 high-tech cities you’ll want to call home.” The magazine noted Kansas City’s access to Google Fiber, its low cost of living and communities such as the Kansas City Startup Village as reasons to…
Flow Forward Medical raises additional $1.3M
Flow Forward Medical boosted its latest funding round to further develop its device that helps improve outcomes for hemodialysis patients. The Olathe-based company closed a $1.3 million round of additional Series A financing led by the Kansas Bioscience Authority. Flow Forward previously raised $4.4 million, bringing its total funding raised to date to about $5.7 million.…
Schukman: 5 reasons why KC is the capital of social entrepreneurship
Take a walk in Kansas City’s startup scene and you’ll quickly hear something about KC’s devotion to becoming America’s most entrepreneurial city. This mantra is on everyone’s lips, from city leaders to corporate tycoons to scrappy startup founders. It’s amazing that in five years our city has created such clarity of purpose that millenials populating…