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
Here’s how a new data dashboard could help KCMO redirect funds to small businesses
A new data dashboard built to better understand Kansas City’s business needs — and guide the city’s response — is not only revolutionary for the metro, said Nia Richardson, it could be the first of its kind, period. Small business advocates already are calling it a win. “I don’t know of any other city or playbook…
Modern world requires entrepreneurs to think like creatives, says KU’s Innovator in Residence
Editor’s note: The University of Kansas’ School of Business is a partner of Startland News. LAWRENCE, Kansas — Building a skill set around creativity is critical to entrepreneurship — especially at a time when careers can be short-lived, said Josh Wexler. “Jobs are no longer for life,” explained the Innovator in Residence at the University…
Grantmaking reboot ‘just one piece of the larger puzzle’ in Kauffman Foundation reset, CEO says
Overhauling the Kauffman Foundation’s grantmaking strategy aligns with a broader, holistic reset for the influential Kansas City organization, said Dr. DeAngela Burns Wallace, emphasizing org-wide moves to deepen the impact and dialogue sparked by its giving. “We’re still engaged in the work happening locally, regionally, and nationally,” said Burns-Wallace, president and CEO of the Ewing…
KC Current’s goalkeeper AD Franch lauded for teaming with WeCodeKC to empower urban youth
AD Franch is more than just a world-class athlete; she’s a true community servant, said Tammy Buckner, founder of WeCodeKC, heaping praise on the KC Current goalkeeper-turned-advocate for technology education in Kansas City. “Her passion and dedication to our students are unmatched,” said Buckner. “Through her partnership, we’ve been able to bring sports and technology…