Show-Me State Times

The Missouri Technology Corporation (MTC) is launching a new pilot program called Proof of Concept for early-stage entrepreneurs developing innovative products.

Proof of Concept offers $25,000-$50,000 equity investments to companies in the pre-seed stage that are working on validating their concept, developing and/or launching a minimum viable product. This initiative is part of MTC’s Innovation, Development, and Entrepreneurial Advancement (IDEA) Fund. The IDEA Fund is a state-sponsored venture capital initiative that utilizes state and federal funds to foster innovation and support technology-driven entrepreneurial endeavors contributing to the state's overall economic development growth.

This public-private partnership created by the Missouri Legislature promotes entrepreneurship and new high-tech companies. MTC focuses on life science and technology industries, building on Missouri’s history in agriculture.

Companies awarded an investment through Proof of Concept are eligible for an expedited path to the IDEA Fund’s Investment Committee in their subsequent funding rounds. The IDEA application deadline for the October award cycle is 11:59 p.m. on August 7. Presentations to the investment committee will be held in October, with MTC board approval expected by early November.

Since 2010, MTC has invested over $50 million in nearly 160 early-stage Missouri-based high-growth technology-focused companies. These companies have raised over $2.1 billion in private capital and generated over 8,000 jobs over the past decade.

For more information about the IDEA Fund, its programs and application process, click here.