UM Enterprise Investment Program Gives First Award

5 years 9 months 3 weeks ago Thursday, February 23 2012 Feb 23, 2012 Thursday, February 23, 2012 6:43:00 AM CST February 23, 2012 in News
By: Jamal Andress
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COLUMBIA - For the first time, the University of Missouri System will award a Missouri Based Company with the UM Enterprise Investment Group Fund. The presentation is at 10:00 Thursday morning. The UM System has $2.8 million set aside for this fund. System officials say they were looking for early-stage high-tech start-up companies working to commercialize technologies that originated on a campus of the University of Missouri System. The purpose of the fund is to: 

  • Accelerate the commercialization of University of Missouri developed intellectual property
  • Enhance a start-up company's ability to attract additional investments
  • Create and maintain sustainable high-paying jobs in Missouri

No single project can receive an award of more than $500,000. Applicants who did were not selected for the award can apply again in the future.When selecting award winners system officials said they considered the criteria listed on their website:

  • An investment would achieve the stated business objectives and move the technology closer to market
  • The management team has the expertise to accomplish the goals set forth in the application
  • The market potential justifies the level of investment
  • The applicant has raised matching funds and/or will likely be able to attract follow-on investments
  • There is a reasonable expectation that the university will, at a minimum, receive a return of and hopefully a return on its investment
  • There is a potential to create jobs in Missouri
  • The applicant has made a commitment to locate and maintain a majority of employees and assets in Missouri

 

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