Last week, Jason Hall, executive director of the Missouri Technology Corporation, took the stage at the Greater KC Chamber of Commerce to share new funding opportunities available to Missouri’s high-tech entrepreneurs.
Here’s a quick rundown of those funds available to Missouri-based high-tech companies.
Missouri IDEA Funds
Next round opens Jan. 2, 2012
The Missouri IDEA (Innovation, Development, and Entrepreneurship Advancement) Funds promote the formation and growth of businesses that engage in the transfer of science and technology into job creation.
The funds provide financing to eligible businesses through four components that correspond to the four stages of growth for investment-grade, high-growth enterprises:
- Pre-seed capital stage financing
- Seed capital stage financing
- Venture capital stage financing
- Expansion stage debt
- TechLaunchDeadline: Feb. 3, 2012
TechLaunch is designed to help high-tech entrepreneurs overcome the principal financing challenges of launching new startups that leverage discoveries and talent at Missouri’s world-class public and private universities and other research organizations.
Funding available: The amount of requested co-investment should be specifically and narrowly tailored to the plan outlined in the application submitted to MTC, but individual awards will not exceed $100,000. Accordingly, it is not expected that each applicant will request the maximum amount of funds that may be awarded under this program. Awards will be in the form of equity or convertible debt.
>> Learn more about TechLaunch
- Seed Capital Co-Investment FundDeadline: Feb. 3, 2012
The Seed Capital Co-Investment Fund is designed to accelerate private seed-stage investment in Missouri-based start-up companies and to increase the overall investment impact of that third-party investment.
Funding available: The amount of requested co-investment should be specifically and narrowly tailored to the plan outlined in the application submitted to MTC, but individual awards will not exceed $500,000. Accordingly, it is not expected that each applicant will request the maximum amount of funds that may be awarded under this program. Awards will be in the form of equity or convertible debt.
>> Learn more about Seed Capital Co-Investment Fund
- Venture Capital Co-Investment Fund
Deadline: Feb. 3, 2012
The Venture Capital Co-Investment Fund is designed to accelerate private venture capital investment in Missouri-based start-up companies and to increase the overall investment impact of that third-party investment.
Funding available: The amount of requested co-investment should be specifically and narrowly tailored to the plan outlined in the application submitted to MTC, but individual awards will not exceed $2,500,000. Accordingly, it is not expected that each applicant will request the maximum amount of funds that may be awarded under this program. Awards will be in the form of equity or convertible debt.
>> Learn more about Venture Capital Co-Investment Fund
- High-Tech Industrial Expansion Fund
Deadline: Feb. 3, 2012
The High-Tech Industrial Expansion Fund supports industrial expansion efforts in Missouri that result in significant capital investment and high-paying jobs in its targeted biotech and high-tech clusters with an emphasis on those that leverage Missouri’s rich agricultural history.
Funding available: The amount of requested funds should be specifically and narrowly tailored to the plan outlined in the application submitted to MTC, but individual awards will not exceed $3,000,000. Accordingly, it is not expected that each applicant will request the maximum amount of funds that may be awarded under this program. Awards are typically in the form of a secured low-interest loan.
>> Learn more about High-Tech Industrial Expansion Fund