Applications open for Missouri tech funding
July 20, 2015 | Bobby Burch
Ready your typing fingers, entrepreneurs.
The Missouri Technology Corporation recently opened applications for its IDEA Fund, a program that will match other capital investments in high-growth tech companies.
The MTC, a public-private organization that makes investments in Missouri tech companies, is currently accepting applications for four of its IDEA programs, three of which are tailored for early-stage ventures. The early-stage programs include the Missouri TechLaunch, Seed Capital Co-Investment, and Venture Capital Co-Investment programs. Application deadlines are set for Aug. 31.
“More and more entrepreneurs are realizing that they do not have to head to Silicon Valley to be successful and are staying right here in the Show Me State,” said Mike Downing, director of the Missouri Department of Economic Development. “We want to make sure that the next big idea happens right here in Missouri and this early stage funding is a testament to our commitment of supporting the startup community.”
Since 2011, the MTC has invested more than $21.5 million in 60 Missouri startups through the Missouri IDEA Funds, the organization told Startland News. Those investments have helped position Missouri companies to raise more than $180 million in additional third-party capital.
Eligibility and evaluation criteria for the programs vary. TechLaunch investments do not exceed $100,000, Seed Capital Co-Investment investments do not exceed $500,000 and the Venture Capital Co-Investment investments do not exceed $2.5 million.
The IDEA Fund — standing for innovation, development and entrepreneurship advancement — promotes the formation and growth of businesses that engage in the transfer of science and technology into job creation. To learn more on the fund and its programs, click here.
Featured Business
2015 Startups to Watch
stats here
Related Posts on Startland News
‘Troost is not scary’: Kansas City equity walk highlights Black business revival
Editor’s note: This story was originally published by The Beacon, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and Missouri Business Alert. Click here to read the original story from The Beacon, an online news outlet focused on local, in-depth journalism in the public interest.…
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…