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
OP greenlights Edison District walking community envisioned by former startup executive
Less than a month after announcing the launch of a second coworking location in Johnson County, the former startup executive behind Edison Spaces revealed news of a new project: a mixed-use district that repurposes a block previously defined by its church grounds. Centered around a five-story office building that features a chef-driven food hall, the Edison…
High-growth additions: PayIt, Main Street Data earn slots in $19M KCRise Fund portfolio
Investing in Kansas City startups ultimately brings greater interest from outside funding sources, said Darcy Howe, KCRise Fund founder and managing director. “We continue to be impressed by the increasing early stage deal flow in our region,” Howe said Tuesday in announcing the additions of Kansas City-based PayIt and Main Street Data to the fund’s…
Digital Sandbox KC nabs $950K to continue regional startup impact
Already with a lasting legacy of growing the area entrepreneurial ecosystem, Digital Sandbox KC has received significant support that should fuel its program for years to come. The proof-of-concept incubator was recently awarded a combined $950,000 — $450,000 from the Ewing Marion Kauffman Foundation and $500,000 from the Missouri Technology Corporation. The two grants will…
Victor Hwang: Individual entrepreneurs hold the key to making America great again
Victor Hwang posed a riddle to a TEDx crowd gathered in Georgia. What five-letter word was overlooked during the 2016 U.S. presidential campaign and almost never mentioned by the candidates or at the party conventions? The answer is rooted in overcoming inequality, said Hwang, vice president of entrepreneurship for the Ewing Marion Kauffman Foundation. “I’m…