The MTC IDEA Fund Program is a state-sponsored venture capital program that was created to support Missouri’s early-stage entrepreneurs in developing technologies and creating jobs across Missouri.
Donor Name: Missouri Technology Corporation
State: Missouri
County: All Counties
Type of Grant: Grant
Deadline: 08/07/2024
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The primary focus of this program is to foster innovation and support technology-driven entrepreneurial endeavors that contribute to the state’s overall economic development growth.
MTC’s IDEA Fund promotes the formation and growth of businesses that engage in the transfer of science and technology into job creation. The fund provides venture capital-based financing to eligible businesses through three programs that correspond to the stages of growth for promising early-stage high-growth potential businesses: (1) pre-seed capital stage financing; (2) seed capital stage financing; and (3) venture capital growth stage financing. Funding decisions are made on a quarterly basis through a multi-tiered, competitive application process.
Funding Information
TechLaunch Co-Investment Program
- Available funding to request from MTC: Up to $100K
- Outside capital raised to date: < $250K
- Recommended current fundraising round: $500K – $1M
Seed Capital Co-Investment Program
- Available funding to request from MTC: Up to $500K
- Outside capital raised to date: $500K – $2M
- Recommended current fundraising round: $1M – $5M
Venture Capital
- Available funding to request from MTC: Up to $2M
- Outside capital raised to date: >$2M
- Recommended current fundraising round: $5M – $20M
Eligibility Criteria
- Companies planning to grow their team and business in Missouri
- Early stage technology and/or innovation with a high growth potential
- Areas of focus: Human Health, Agriculture Technology, Animal Health, Software, Applied Technology
- Companies seeking risk capital that have the capacity to raise matching funds (at least 1:1)
For more information, visit MTC.
