The Missouri Technology Corporation has awarded grants to Columbia’s Centennial Investors and four other angel investment groups in Missouri to enhance their ability to get companies started.
The angel investment groups in Columbia, St. Louis, Springfield and Lee’s Summit will each receive a $30,000 one-year grant to fund operational expenses such as staff, as well as professional services for the review of potential investments, member training, and development. The grants have an optional one-year renewal, according to a news released issued Friday.
The term “angel investor” refers to investors who provide seed and early-stage capital funding to entrepreneurs and companies that are in the gap beyond self-funding but before traditional venture capital funding. Many companies at this stage of development would not be able to continue to exist and grow without the funding provided by these investors.
“Angel investments play a critical role in the growth of high tech, high-growth companies,” said Linda Martínez, Director of the Department of Economic Development, which hosts the Missouri Technology Corporation.
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