The Missouri Technology Corporation is taking applications now through Aug. 24 for its IDEA Funds commercialization programs.

The IDEA Funds are designed to help science- and tech-based companies that are translating discoveries into new products and services—and creating jobs. It’s a co-investment programs. Applicants must have already lined up private investment that’s worth at least as much as what they’re seeking from the Missouri Technology Corporation.

IDEA Funds awards come in four varieties:

Missouri TechLaunch is for companies that have raised no more than $250,000 in debt and equity financing. Individual awards will not exceed $100,000. This is pre-seed funding that can be used for competitive analysis, proof-of-concept research, prototype design and more.

The Seed Capital Co-Investment Program is for companies that have raised no more than $2.5 million. Individual awards are capped at $500,000. The funding can be used for advanced proof-of-concept work, advanced prototypes, key personnel and other needs.

The Venture Capital Co-Investment Program helps businesses that are in the venture capital stage. Individual awards are capped at $2.5 million. The funding can be used for advanced proof-of-concept work, advanced prototypes, key personnel and other needs.

The High-Tech Industrial Expansion Program helps accelerate the growth of Missouri-based companies. Individual awards are capped at $3 million. The money can be used for equipment, construction costs and hiring key personnel.

For more information, contact Dan Kaemmerer at (573) 522-0200 or Daniel.kaemmerer@ded.mo.gov.