The Missouri Technology Corporation (MTC) is seeking applications for the Innovation, Development, and Entrepreneurship Advancement (IDEA) Fund Program 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: 08/09/2023
Size of the Grant: Up to $2,000,000
Details:
The Missouri Technology Corporation (MTC) is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies within the state.
MTC seeks new investment opportunities in early-stage technology or innovation -based companies with high growth potential that are based in Missouri.
The IDEA Fund makes direct investments into Missouri-based technology startups through matching equity or convertible debt investments for the purpose of supporting technology and business development. Active programs include:
- TechLaunch Co-Investment Program
- The TechLaunch Program provides up to $100,000 of pre-seed funding and was developed for companies that have raised less than $250k of outside capital and are currently raising between $500k to $1M.
- Seed Capital Co-Investment Program
- The Seed Capital Program provides up to $500,000 of seed funding and was developed for companies who have spent substantial time in research and development or refining their product and identifying early ‘adopter customers’. The program targets companies that have raised approximately $500k to $2M of outside capital and are currently raising between $1M to $5M. Ideally, the seed capital provided by MTC will be leveraged to develop the company and product to the point venture capital groups will invest.
- Venture Capital Co-Investment Program
- The Venture Capital Program provides up to $2,000,000 of growth funding and was developed to accelerate private venture capital investment in Missouri-based start-up companies and to increase the overall investment impact of third-party investments. The program targets companies that are currently raising between $5M to $20M and have identified a potential lead investor. The capital provided by MTC will be leveraged to attract additional venture capital funds to participate in the round and accelerate the growth of the company.
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.
