MTC IDEA Funds: New Funding Cycle Open Until August 31
Calling all tech entrepreneurs and startups, this one is not to be missed. Missouri Technology Corporation (MTC) is accepting applications for the following Missouri IDEA Fund programs:
-
Missouri TechLaunch
- Seed Capital Co-Investment Program
- Venture Capital Co-Investment Program
- High-Tech Industrial Expansion Program
The IDEA Fund promotes the formation and growth of businesses that engage in the transfer of science and technology into job creation. MTC will allocate up to $2.5 million across these three programs in this funding cycle.
Applications for each of these programs may be found on MTC’s website.
The deadline to submit proposals for consideration is Monday, August 31, 2015. So sharpen those ideas and get to writing your proposals lickety split.
Just a few more details before you jump.
Missouri TechLaunch
The Missouri TechLaunch program is designed to help high-tech entrepreneurs overcome the principal financing challenges of launching new start-ups that leverage discoveries and talent at Missouri’s world-class public and private universities and other research organizations. This pre-seed funding will be awarded to entrepreneurial startups for intellectual property development and evaluation, including in-depth analysis of market potential, conducting competitive analysis, establishing proof of concept of a scientific discovery, prototype design and development and related activities.
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.
Seed Capital Co-Investment Fund
The Seed Capital Co-Investment Fund is designed to accelerate private investment in Missouri-based startup companies and to increase the overall investment impact.
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.
Venture Capital Co-Investment Fund
The Venture Capital Co-Investment Fund is designed to accelerate private investment in
Missouri-based startup companies and to increase the overall investment impact.
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.
High-Tech Industrial Expansion Fund
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.