UMKC Innovation Center partners with the university and the community to spark and sustain entrepreneurial efforts within our region and across the country.

KCSourceLink connects KC entrepreneurs to the right resource at the right time.

MOSourceLink connects Missouri entrepreneurs to the right resource at the right time.

Whiteboard2Boardroom connects entrepreneurs and businesses to technologies available for licensing.

Digital Sandbox KC provides early-stage proof-of-concept support for digital products.

Missouri Small Business & Technology Development Center provides technical assistance to startup and existing businesses.

ScaleUP! Kansas City helps businesses with revenues around $200K scale toward their first $1 million.

Missouri Procurement Technical Assistance Centers helps local businesses obtain government contracts.

KCInvestED helps investors learn more about investing in KC startups.

SourceLink® helps communities nationwide build vibrant and vital entrepreneurial ecosystems.
UMKC Innovation Center
UMKC Innovation Center

Guide: Innovation-Led  Part Four

Innovation-Led Funding Sources

According to Paul Kedrosky of the Kauffman Foundation, more than half of young companies finance startups from their own savings, and then generate enough cash flow to run the company. The second biggest source of funding is credit cards, the third is friends and families.

Some young companies are able to tap into conventional bank loans, if they have the collateral to secure the loan. Kansas City offers a wide range of loan programs targeted to startups. And if you are working on the next big technological breakthrough, you might be able to tap into government technology grants.

Less than 20% of fast-growing companies get venture capital funding, according the Kauffman Foundation research. That leaves a funding gap that is increasingly being filled by angel and peer-to-peer investors. Seeking funding from individuals outside your circle of friends requires preparation. Specifically, you’ll need to:

It’s HIGHLY RECOMMENDED to go through a trusted resource, such as the Small Business and Technology Development Center at UMKC or the Enterprise Center of Johnson County on the Kansas side, when approaching angel investors or venture capital firms. These resources can assist you in preparing your best business case before pitching to potential funders. You may also find Funding Stage Definitions helpful in determining what types of investors to approach.

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