State Budget Bill Nearly Doubles Missouri Technology Corporation Funding

The state budget package passed by the Missouri House includes a bill that would increase the Missouri Technology Corporation’s  funding to $11.4 million from $6.36 million last fiscal year. The Senate Appropriations Committee will take up the appropriations bills next week.

MTC is a state-run venture capital fund that administers the Innovation, Development and Entrepreneurship Advancement (IDEA) fund for early-stage startups

The total that could be appropriated for the Department of Economic Development in fiscal 2015 also includes $4.5 million for early-stage grants, a part of  HB 1495, sponsored by Noel Torpey, R-Independence.

Read more from the St. Louis Business Journal

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