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
NXTUS expands enterprise-focused program beyond Kansas; four KC-area startups selected
WICHITA, Kan. — An ongoing initiative to demystify the relationship-building process between emerging entrepreneurs and potential enterprise partners just expanded deeper into the Midwest, welcoming 20 growth-minded innovators from Wichita to St. Louis. “For entrepreneurs whose success depends on forging relationships with ‘the big guys,’ this unique program is so valuable,” said Mary Beth Jarvis, president…
Here’s how Bungii delivered spot No. 981 in its Inc. 5000 fastest-growing companies debut
Nailing Bungii’s geographic expansion model has unlocked significant growth, said Ben Jackson, detailing a years-long evolution that earned his Kansas City-built final-mile delivery carrier a coveted spot on the latest Inc. 5000 fastest-growing companies list. “Bungii’s network is becoming one of the largest sharing economy footprints across the U.S.,” explained Jackson, who co-founded the company…
Caterpillar subsidiary expands into KC, turning dirt to create 85 jobs in revitalized industrial corridor near riverfront
A multi-million dollar expansion project is expected to put an aging manufacturing site back on track in Kansas City, officials at Progress Rail announced Monday, noting the converted operation will focus on re-manufacturing railcar wheelsets and bearings. Progress Rail — a wholly owned subsidiary of Caterpillar Inc. — expects to bring 85 new full-time jobs…
Emerging KC space tech startup relocating to Colorado to build autonomous factory
A space tech startup that shot into orbit from its West Bottoms headquarters in Kansas City has announced plans to build its first smart factory in Colorado — relocating operations to Broomfield to join the Centennial State’s “robust aerospace and defense ecosystem.” “Colorado is home to some of the best aerospace, defense, and manufacturing talent…