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
Fashion Arts Fund names new leader as shift toward new vision comes into focus
A Kansas City nonprofit dedicated to making impact on the city’s fashion scene announced its new executive director Wednesday — stitching a dyed-in-the-wool KC fashion designer into the organization’s new look. Elon Kebede — founder, designer, and creative director for Kansas City, Kansas-based ELU by Elon — is expected to lead the Fashion Arts Fund,…
Pitch event matches queer singles with dates, but there’s a catch: It’s a bestie behind the mic
Singles within Kansas City’s queer community are about to experience a fresh take on matchmaking, said Tiffany Watts, detailing plans for a pitch event this week where lonely hearts could find connections with help from people who already see them best: their friends. The interactive Where to Find Us event is set for Thursday, Nov.…
KC-built Raven Space Systems awarded $1.8M contract via Air Force’s innovation arm
A LaunchKC alum’s latest stratospheric news: a hefty U.S. defense contract to produce 3D-printed reentry aeroshells for hypersonic flight testing — a breakthrough technology that’s expected to address some of the of most pressing challenges faced by today’s Air Force. Raven Space Systems on Monday announced the $1,800,000 STTR (Small Business Technology Transfer) Phase II contract.…
SafetyCulture names new CEO as founder moves into new strategic executive role
A global tech company with its U.S. headquarters in Kansas City is transitioning to American leadership. Kelly Vohs, a New York-based executive and former Green Beret in the U.S. Special Forces, is set to become CEO of the Australian company SafetyCulture Jan. 1 Founder Luke Anear, who long served as the rapidly scaling business’ CEO…