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
Onward scores $1M grant from Chan Zuckerberg Initiative for payday loan end-run
Everyone needs a financial cushion, said Ronnie Washington — even a fintech startup offering low- to moderate-income workers a path to avoid predatory lending practices, the Onward founder said. A member of KC-based Fountain City Fintech’s inaugural cohort, Onward is one of 10 companies from across the U.S. and Puerto Rico being awarded $1 million…
Top startup ‘RFP360’ tweaks name in rebrand to reflect 360-degree approach to its market
A rebranding effort announced Tuesday aims to clarify the way RFP360 is perceived by potential customers bogged down by procurement and bidding processes, said David Hulsen. The Kansas City-based company, which streamlines the repetitive and arduous request for proposal (RFP) process with a software-as-a-service platform, hopes its new name and tagline — “Grab Life by…
‘Three guys of faith’ craft edible, dissolving protein pods with mission to SERV
Infusing authenticity into a compound of faith and fearlessness helped a KC trio formulate the one-of-a-kind recipe for Kansas City startup SERV Nutrition. Now they’re positioning the soon-to-launch company to shake up the supplement space, said Austin Wilcox. “I was doing some laundry and threw a Tide Pod in after my workout, then ran upstairs to…
Sofar Sounds takes grassroots underground to resurrect the live music experience in KC
Kansas City has a reputation as a home for talented artists, said Hank Wiedel, but restricted resources limit the potential for grassroots performers to reach a global — or sometimes even local — audience. Sofar Sounds — an international event series operating under the radar in the metro for two years — reimagines live shows by providing…