Missouri Tech Corp. awards loans, creates support network

The Missouri Technology Corporation has awarded Phase II Bridge Loans through the Missouri Technology Incentive Program (MoTip) to three small high-tech companies: Iconic Health in Columbia and Cervimark and VirRx, both in St. Louis.

Iconic Health was founded in 2005, and its primary mission is to improve access, quality and efficiency of mental health care.

MoTIP was designed to generate high-quality small business innovation research and small business technology transfer proposals.

“High tech jobs are our future, and entrepreneurs often times lack funding at critical junctures during the development of technology,” said Rob Monsees, executive director for the Missouri Technology Corporation (MTC).

The biggest gap facing entrepreneurs typically occurs between the completion of the Phase I work and the start of the Phase II project, usually three to four months. The Phase I/II Bridge Loan program allows an entrepreneur to request up to a $50,000 loan to support research activities.

“Our goal with this funding is truly to help the entrepreneur bridge the funding gap that often occurs in the middle of the commercialization process,” said Paul Rehrig, counselor at the University Center for Innovation and Entrepreneurship in Columbia.

MTC also has unveiled a new program to assist entrepreneurs in Missouri: MOSourceLink, a free resource designed to help small businesses and entrepreneurs navigate the resources they need to ensure success.

MOSourceLink develops a virtual partnership of hundreds of organizations across the state that currently provides business-building services and creates a quick resource for small businesses and entrepreneurs.

MOSourceLink will assist entrepreneurs by doing the following:

• Gathering information about the business and its needs
• Researching the available resources that match those needs
• Directing the business to the appropriate support organizations
• Provide follow up to ensure quality service and satisfaction v

Address: 904 East Broadway
Owner/developer: Delta Roads Development
General Contractor: Professional Contractors & Engineers, Inc.
Available area: 10,500 square feet
Estimated completion Date: Dec. 1
Architect: Kimi Chinn, Chinn & Associates, Inc.
Number of possible Tenants: Two to four residential/office, One to two commercial.