2. Entrepreneurship in Missouri

3.  Business Recruitment  Business Expansion  Entrepreneurism/New Business Formation Strategies for Economic Development

4.  Entrepreneurship has been successful historically in growing Missouri’s economy  Anheuser-Busch  Cerner Corporation  H&R Block  Leggett & Platt  Monsanto  Seven of the ten largest companies headquartered in Missouri were established by individual entrepreneurs around the turn of the century Entrepreneurial Success

5. Current State of Missouri Entrepreneurship  Missouri lags behind other states in leading indicators of entrepreneurship as measured by the Kauffmann Foundation  37 th Overall  44 th in Economic Dynamism  49 th in Entrepreneurial Activity  50 th in Business Launches per Month  What does the future look like if we do not have new business ventures in our economic development pipeline? Sources: Parry, Mark E., “Missouri’s Need for Risk Capital: An Assessment and Recommendations”; Kauffman Foundation, “The 2008 State New Economy Index”; and “ Kauffman Index of Entrepreneurial Activity 1996-2008”

6. Opportunity for Technology-Based Entrepreneurship in Missouri  Missouri is among the leading recipients of competitively funded federal research  Consistently ranks 12 th in NIH grants  Recently ranked as high as 9 th in federal R&D grants  Missouri is home to world-class research institutions  Danforth Plant Science Center  Midwest Research Institute  Stowers Institute for Medical Research  University of Missouri  Washington University in St. Louis Sources: Parry, Mark E., “Missouri’s Need for Risk Capital: An Assessment and Recommendations”; Kauffman Foundation, “The 2008 State New Economy Index”; and “ Kauffman Index of Entrepreneurial Activity 1996-2008”

7. Research Proof of Concept Product Development and Introduction Company Growth Company Maturity Research is the Foundation for High-Tech Entrepreneurship

8. Missouri Technology Corporation

9. MTC Background  Authorized by the Missouri General Assembly in 1994  Charged with leading the Missouri’s technology- based economic development efforts  Independent 501(c)(3) corporation led by 15- member board of directors

10.  Board membership  11 members appointed by governor (9 private sector, 2 public sector)  President of UM System or designee  Director of Missouri Department of Economic Development or designee  1 member of the Missouri House of Representatives  1 member of the Missouri Senate  Governor selects Chair annually  Governor nominates and Board selects Executive Director MTC Leadership

11.  Research Capacity  Commercialization Programs  Entrepreneurship Investment  Capital Formation  Innovation Centers  Strategic Initiatives  Scientific Infrastructure  High-Technology Business Development  Workforce Development Overview of MTC Programs

12. Research Capacity

13. Research Alliance of Missouri  MTC serves as administrator for the Research Alliance of Missouri (RAM)  RAM membership consists of the chief research officer of Missouri’s 14 public and private research universities  Includes Danforth Plant Science Center, Stowers Institute for Medical Research, and Midwest Research Institute  Community interest in adding Lincoln University to RAM

14. Life Sciences Research Trust Fund  MTC serves as the administrator for the Life Sciences Research Board  Created in 2003 (House Bill 688)  7-member Life Sciences Research Board appointed by the Governor (LSRB) and confirmed by the Senate  The mission of the Board and the Trust Fund is to enhance research capacity in life sciences and to transform life sciences research into commercial opportunities

15. Life Sciences Research Trust Fund  Eligible research areas include:  Animal science  Plant science  Medical device  Biomaterials and composite research  Diagnostics  Nanotechnology related to drug development and delivery  Clinical imaging  Information technology related to human health

16. Commercialization Programs

17.  Entrepreneurship Investment  IT Initiative  Medical Device Innovation  Missouri Source Link  Missouri Technology Innovation Program (MOTIP)  Intellectual Property Management Fund  Capital Formation  Ag-Biotech Recruitment Fund  Angel Investor Network Program  Collaboration and Interdisciplinary Program  Missouri Venture Partners Commercialization Programs

18.  10 state-funded innovation centers  MTC charged by statute to oversee the network  Serve as a focal point for commercialization of university technology  Innovation center companies include Equinosis, Stereotaxis, Yurtopia  Springfield innovation center landed major federal research project to develop advanced communications equipment for special military forces Innovation Centers

19.  Original innovation centers located near Missouri’s research institutions  Columbia  Kansas City  Rolla  St. Louis  Additional innovation centers established since 1989  Cape Girardeau  Joplin  Kirksville  Springfield  St. Joseph  Warrensburg Innovation Centers

20. Strategic Initiatives

21.  MTC facilitates partnerships to further Missouri’s technology-based economic development goals  University  Research Institutions  Capital Investors  Industry Strategic Relationships

22.  Scientific Infrastructure  Animal Health Research Center (Western Missouri)  Missouri Plant Science Center in Mexico, Missouri  Technology Park at Fort Leonard Wood  High-Technology Business Development  High-Technology Marketing and Promotion  Missouri-Israel Initiative  Workforce Development  Ag-Biotech Outreach Program  Animal Health Workforce Initiative (St. Joseph)  Missouri Center for Advanced Power Research (Joplin) Strategic Initiatives

23. Discussion