Missouri Technology Corporation Overview
Missouri Technology Corporation (MTC) is a public-private partnership established to support entrepreneurship and high-tech companies in bioscience industries. With a focus on areas like animal health, defense, and plant science, MTC offers funding initiatives like the IDEA Seed and Venture Capital Funds to foster innovation and growth. Learn about MTC's initiatives, board members, and areas of focus in promoting Missouri's rich history in agriculture and technology
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Presentation Transcript
IDEA FUNDS OVERVIEW May 29, 2013
Missouri Technology Corporation
About MTC Public-private partnership created by the Missouri General Assembly to lead efforts to promote entrepreneurship and foster the growth of new and emerging high-tech companies Focus on 21st Century bioscience industries related to Missouri s rich history in agriculture Board of Directors includes individuals appointed by Missouri s Governor, Speaker of the House, and President Pro Tem of the Senate, and includes the President of the University of Missouri system and the Director of the Department of Economic Development
MTC Areas of Focus Animal Health Applied Engineering Biomedical Science Defense and Homeland Security Plant Science
MTC Area of Focus Applied Engineering Digital and convergence media Information technology Creative content Clean energy Advanced manufacturing
Missouri IDEA Funds On March 22, 2011, Missouri Governor Jay Nixon announced the launch of the $21 million IDEA Seed and Venture Capital Funds initiative that will support the growth of entrepreneurs and high-tech companies. 6 competitive funding rounds completed 188 applications submitted $118.3 million in co-investment funds requested 69 authorized projects totaling $19.1 million in IDEA Funds 32 companies closed and funded in excess of $10 million raising leveraged capital in excess of $50 million
IDEA Seed and Venture Capital Funds Missouri TechLaunch Seed Capital Co-Investment Program Venture Capital Co-Investment Program High-Tech Industrial Expansion Program
Missouri TechLaunch Eligibility Pre-Seed Stage Financing Accelerate the commercialization of research discoveries Experienced Leadership Industry/Technology Commercialization Matching Funds At least 100% Close and Transfer in a Syndicate Viable Plan for Follow-On Financing or Sustainability
Missouri TechLaunch Awards Funds may be used for IP development and evaluation proof of concept work prototype design market studies related business activities Typically issued as convertible debt
Seed Capital Co-Investment Eligibility Seed Stage Financing Accelerate the commercialization of research discoveries and growth of start-up companies Experienced Leadership Industry/Technology Commercialization Matching Funds At least 100% Close and Transfer in a Syndicate Viable Plan for Follow-On Financing or Sustainability
Seed Capital Co-Investment Awards Funds may be used for advanced IP development and evaluation proof of concept work prototype design market studies key personnel hiring related business activities Typically issued as convertible debt or equity
Venture Capital Co-Investment Eligibility Venture Capital Stage Financing Accelerate the growth of start-up companies that can be new Missouri-based corporate headquarters Experienced Leadership Industry/Technology Commercialization Matching Funds At least 100% Close and Transfer in a Syndicate Viable Plan for Follow-On Financing or Sustainability
Venture Capital Co-Investment Awards Funds may be used for advanced IP development and evaluation proof of concept work prototype design market studies key personnel hiring related business activities Typically issued as equity
High-Tech Industrial Expansion Awards Funds may be used for business expansion activities equipment construction key personnel hiring related business activities Typically issued as secured low-interest debt
Matching Funds Minimum of 1:1 cash match of new, private investment Neither federal funds or in-kind contributions can be used as match to IDEA Funds Matching funds to close in syndication with MTC investment
MTC Investment Review Process Application Preliminary Staff Review Due Diligence and Scoring Application Highest-ranked Applications Reviewed by Investment Committee (unless exigent circumstances) Funding Recommendations Issued Investment Committee Review Board Considers Recommendations Final Due Diligence and Definitive Documents MTC Board Review Awardees Report Outcomes for 10 years Contract Compliance Outcomes Monitored by Investment Committee Tracking Outcomes
