Jason Hall, Executive Director of the Missouri Technology Corporation (MTC), recently announced the creation of the new State-supported Techlaunch program. MTC will grant qualifying early-stage technology ventures convertible debt of up to $75,000, by matching 2-for-1 the equity raised from other sources. To qualify for the maximum loan, the company must raise at least $37,500 from other sources. In other words, MTC will provide debt funding of twice the private investment, up to the maximum of $75,000.
Below is a link with further details as well as the application. Please make mention of your participation with ITEN in your application, since the MTC is a primary supporter of ITEN and very interested to see our ventures succeed. http://www.missouritechnology.com/commercialization_programs/missouri_techlaunch/ (According to the MTC, IT falls under the “applied engineering” category)
It looks like a great opportunity for state support of selected ITEN ventures, and the MTC is very interested to have ITEN ventures apply.
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