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
Evolving attitudes, laws dissolving risks on mainstream CBD, hemp ventures, experts say
The smoke is lifting on cannabis as a commodity, Heather Steppe said, grateful for the entrepreneurial opportunity a waning stigma has created for her family. “Our farmers are finally getting an opportunity to grow this plant and, by God, we’re going to be some of the people who support them,” Steppe said, looking out…
H&R Block co-founder, legend of KC entrepreneurism Henry Bloch dies at 96
Henry Bloch’s contributions to Kansas City will last generations, business leaders said Tuesday, as word spread of the H&R Block co-founder’s death. “Henry Bloch was an absolute champion of Kansas City in everything he did,” said Joe Reardon, president and CEO of the Greater Kansas City Chamber of Commerce. “From business endeavors involving H&R Block,…
After $1.25M seed round, Sprint alumni credit KC roots for Rogue Games’ agility, hungry hustle
At just over 2 years old, a formerly indie mobile game publisher is rocketing to the top of its industry, with one of its founders attributing LA-based Rogue Games’ success to its origins in KC. “We take pride that our Kansas City roots have given us an edge in the industry, to be honest with…
KCMO ready to do business with marijuana startups; entrepreneurs of color see ‘catalyst for empowerment’
A green rush is soaking up sunshine in Missouri, and if attitudes of state officials, businesses owners and marijuana advocates are any indication, Kansas City is fertile ground for the movement. “We have a huge diversity of business opportunities,” said Rick Usher, KCMO assistant city manager for entrepreneurship and small business. Usher is spearheading the…