Jason Hall, CEO of Greater St. Louis, Inc., issued the following statement on HB 7 and funding for the Missouri Technology Corporation (MTC).
Earlier this afternoon, the conference committee on HB 7 took the Senate’s position to increase funding for the Missouri Technology Corporation at $3 million. On behalf of the business community, we applaud Chairman Senator Dan Hegeman, Chairman Representative Cody Smith, and the conferees’ decision to boost our state’s capacity for entrepreneurship and innovation. Increased funding allows MTC to invest in more early-stage companies and strengthens our state’s position as a national and global innovation hub.
The Missouri Technology Corporation (MTC) is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies. Over the past decade, MTC has invested nearly $44 million into over 135 early-stage Missouri-based high growth technology-focused companies, which have raised over $1 billion in additional private capital. MTC investment successes in the St. Louis region include Benson Hill, LockerDome, Confluence Life Sciences and many more.