Access to Capital/Resources for Entrepreneurs Lynne Shea, CEcD Business Development Manager

Entrepreneurial Environment Failure IS allowed Buy in from established business leaders, local/regional officials Mentors from business community, training, networking events Regional approach, focus on your assets 2

Primary needs for Entrepreneurs Knowledge, how to start and run a business Access to capital Research facilities Incubators Acceleration programs 3

Funding Resources Limited Competitive Grants are scarce Not for the weak at heart 5

Angel Investor Networks, equity funds in early stage life sciences & tech companies Mid-America Angel Investors - Kansas City Mid-America Angel Investors Women's Capital Connection - Kansas City Women's Capital Connection Show Me Angels - Lee's Summit Show Me Angels St. Louis Arch Angels - St. Louis St. Louis Arch Angels Centennial Investors Angel Investors Network - Columbia Centennial Investors Angel Investors Network Billiken Angels Network - St. Louis Billiken Angels Network Angel Capital Group - Kansas City, Memphis Angel Capital Group FinServe Tech Angels - St. Louis FinServe Tech Angels Global Perspective Investments LLC - Nodaway County Global Perspective Investments LLC 6

Missouri Technology Corp (MTC) To provide early stage capital for entrepreneurs/startups Public private partnership Focused on new and emerging tech focused companies Agricultural/Plant/Biosciences/IT/Engineering 7

How to Access IDEA funds administered by MTC Funds allocated in state budget annually $15.86 million allocated in state FY 2016 Competitive application process MTC takes an equity ownership position 8

IDEA Funds/Innovation Development Entrepreneurship Advancement Tech Launch pre seed money, early R & D phase Seed Capital accelerate private money, still early stage, further developing prototypes 9

IDEA Funds/Innovation Development Entrepreneurship Advancement VC Capital Co Investment accelerates private funds, increases the value to the 3 rd party lender HiTech Industrial Expansion funds used for capital investment in Biotech, Agriculture, High Tech industries 10

MO Building Entrepreneurial Capacity Matching grant to a non for profit or gov entity administered by MTC Expand the support system for startups – Incubators, research facilities Show Me Innovation Center in Fulton – Campaign in the community to raise matching grant funds 11

MO Dept of Agriculture Value Added Grant Program – Add value to a Missouri agriculture product – Aid the rural economy – Funds assist in the creation, development, operation of the business –

Small Business Loan Program Up to $50,000 used for working capital, M/E Low interest RLF; typical payback 10 years 100% MO owned and located 15 or few employees Qualified business sector, financial risk Loan application process at 13

Examples of Local Funding Sources LaunchKC Arch Grants Jefferson City Chamber’s Pitch It & Win It Global Perspective Investments LLC, Nodaway County Missouri Innovation Corporation at SEMO 14

Missouri Works administered by MO DED Incentives offered for job creation Performance based Qualified, approved applicant Benefits are generated by the NEW state withholding tax created; ranges from 2.85% to 4.82% of payroll 15

Missouri Works Complete the application process – Eligible business – 2 new FT jobs/2 years – Average Wage Competitive with County Average – Health Benefits – Meet investment requirements 16

MO Dept of Economic Development – Luke Holtschneider, Rural Development Liaison 17

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Resources Continued MOSourceLink Local Chambers, economic development organizations University of MO Extension MO Small Business Tech Development Center 19

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