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Missouri Technology Corporation

Portfolio of Missouri Technology Corporation

If you throw a rock in the St. Louis startup ecosystem, you’ll likely hit a company that’s gotten some of its investment funds from the Missouri Technology Corporation.

The Missouri General Assembly established the public-private partnership in 1994 to promote entrepreneurism and grow high-tech companies. MTC has co-invested about $35 million in nearly 100 startups since 2011, many of them based in St. Louis.

That investment may dry up soon.

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The Missouri Technology Corporation gets lots of praise for helping boost business creation in Missouri. But it’s not clear whether the legislature will reward it with more funding.

The nonprofit, funded partially by the state, helps promote entrepreneurship. It has provided $24 million in equity investments to 70 startups in the state since 2010.

Missouri Technology Corporation, startups
(Maria Altman, St. Louis Public Radio)

Governor Jay Nixon is thanking state lawmakers... at least for the funds they appropriated for the Missouri Technology Corporation.

The Democrat was in St. Louis Wednesday touting the nearly $16 million the Republican-controlled legislature included for MTC in the budget passed last week. MTC provides early-stage capital to both entrepreneurs and startups.

"When MTC gives an investment everyone knows that it’s smart and effective, and the legislature going along with us to make more resources available is important," Nixon said.

Marshall Griffin/St. Louis Public Radio

A state-run nonprofit corporation needs to improve its transparency, according to an audit released Thursday.

This article first appeared in the St. Louis Beacon: July 3, 2008 - A Missouri judge refused on Wednesday to stop the state from spending $21 million for life sciences research.  Opponents of stem cell research -- represented by Ed Martin, the former chief of staff to Gov. Matt Blunt -- had sought an emergency order to block the spending.