Key Points on MTC from Gov Nixon Update
April 11, 2016 • Arch Grant News •
Arch Grants is part of a coalition that supports continued and increased funding of MTC. As the 2016 legislative session continues, there is collective hope that the legislature will ultimately approve an increase of $10M in core funding to MTC for 2017. Continued and increased funding of MTC is essential to the growth and stability of our startup and innovation communities in St. Louis and throughout Missouri. CLICK HERE for an update from Governor Jay Nixon regarding the impact of economic development efforts in Missouri including the role of Arch Grants. As of 2016, over 20% of Arch Grants Recipients have also secured investment from MTC.
- Funding for the Missouri Technology Corporation has increased from $2.1 million in FY2011 to over $18 million in FY2016.
- Governor Jay Nixon’s proposed FY2017 budget includes an additional $10 million in funding for MTC programs.
- MTC’s Missouri IDEA Funds program has provided over $28 million in capital investment to 85 Missouri startup companies since 2011.
- These companies have in turn been able to raise over $300 million in additional capital to grow their businesses and create jobs.
- These investments have also provided funding to support entrepreneurs through local and regional initiatives funded by the Missouri Building Entrepreneurial Capacity (MOBEC) grant program to launch or expand programs like Arch Grants, Digital Sandbox KC, the eFactory in Springfield, OPO Startups in St. Charles and the IT Entrepreneurs Network (ITEN) in St. Louis.