State, local agencies using new funding source for high-tech companies

      JEFFERSON CITY – The path to commercialization of Missouri research has just gotten clearer. 
     The Missouri Technology Corporation (MTC), in partnership with the Missouri Small Business and Technology Development Centers (MO SBTDC), has announced a new funding source for innovative and high-technology companies.
     The eligible companies must  interested in pursuing federal research and development dollars through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards.
     The Missouri Technology Incentive Program (MoTIP) is designed to generate high-quality SBIR/STTR proposals and broaden the participation of Missouri small businesses through competition assistance grants and bridge loans.
     “Each year, the federal government makes $2.2 billion available to U.S. small businesses engaged in innovative and high-tech research and development,” said Rob Monsees, MTC’s executive director. “Historically, Missouri has not captured its share of those dollars, often because entrepreneurs lack critical funding at important junctures in the technology’s development. MoTIP is designed to fill those gaps and ensure that Missouri wins more federal dollars for start-up companies creating high tech jobs, continues to commercialize innovative ideas, and develops its economic potential to match our strong research base.”
     Entrepreneurs may apply for competition assistance grants monthly by submitting a proposal to MoTIP. Funds of no more than $5,000 may be used for the required development of a Phase I proposal, market research, attendance at SBIR conferences, communication with or travel to federal agencies, analyses to support research or acquisition of data. 
     “We believe many more businesses would pursue SBIR/STTR funding opportunities if they had a modest financial help to enable them, for instance, to pay for assistance in writing the proposal,” said Paul Rehrig, the Mo TIP Coordinator. “These are rather small awards, but they can make a huge difference in whether or not a researcher or entrepreneur pursues a commercialization path for a technology. It’s a small investment from the state that could potentially pay huge dividends in business and job creation down the road.”
     “Our goal with this funding is truly to help the entrepreneur bridge the resource gap that often occurs mid-way through the commercialization process,” says Rehrig. “A repayment of the money ensures resources for future projects. In this way, the success achieved by our state’s technology entrepreneurs helps seed the next innovative ideas. It’s a double return to the state.”
     More information and proposal templates are available at [email protected] or online at www.missouribusiness.net/fast/ under the MoTIP link. Or call Rehrig at 573/882-7096.