A new program launched by the Cortex Innovation District and St. Louis-based startup investor Capital Innovators aims to help Missouri startups receive investment from venture capitalists.
Cortex and Capital Innovators in June will debut a pilot program called Venture-Ready Missouri, which will provide a free curriculum to startups statewide that’s focused on helping them be prepared to seek out investment from venture capital funds and angel investors. The program’s launch has been supported by a $186,966 grant from the Missouri Technology Corp. (MTC), the private-public organization that supports innovation and entrepreneurship in Missouri. MTC’s funding is being matched by Cortex, the innovation district said.
“With this grant, we will fortify Venture-Ready Missouri and empower early-stage entrepreneurs to navigate the complex landscape of venture funding. Together, we are not only fostering innovation but also bridging geographical divides, ensuring that entrepreneurial opportunities flourish across all corners of our state thanks to our statewide partners,” said Gabriela Ramirez-Arellano, vice president of entrepreneurship at Cortex.
Venture-Ready Missouri’s programming will be conducted virtually in two parts. The first part of the programming focuses on helping entrepreneurs and early-stage companies understand how venture funding works and best practices for engaging investors. Early-stage companies across all industries and based in Missouri can participate in part one of Venture-Ready Missouri. In addition to its virtual programming, part one of Venture-Ready Missouri will also include one-on-one office hour opportunities, organizers said.
The second part of Venture-Ready Missouri will offer a “select number of companies identified as venture-scalable” the chance to participate in programming to help them strengthen their pitch to investors. Companies must participate in part one of the program to be selected for its second phase. Venture-Ready Missouri’s programming will be conducted virtually through Zoom and plans call for the second phase to include an in-person event that will offer “simulated pitch scenarios.” The program plans to reimburse travel expenses for participants.
“Capital Innovators is excited to work alongside Cortex to create a more cohesive startup education curriculum across the state,” said Brett Luing, Capital Innovators' program director. “Missouri is a great place for entrepreneurs to launch and grow their company, and we aim to support those that are ready to scale.”
Venture-Ready Missouri will launch in June, with the first part of its programming including two sessions per week from June 3 to June 28. The program’s second phase will take place July 1 to Aug. 30, and will include a weekly pitch development workshop. Registration has opened for the program’s first phase.
Venture-Ready Missouri is being funded through MTC’s Missouri Building Entrepreneurial Capacity grant program, which backs entrepreneur support initiatives and programs. Cortex said initial plans call for two iterations of Venture-Ready Missouri's programming to take place in 2024, with plans to extend the program beyond this year, contingent on demand for the program and successful outcomes from its initial cohorts.
Cortex, which manages a 200-acre innovation district in the Central West End, reported total revenue of $34.9 million and total expenses of $8.5 million for the year ended Dec. 31, 2022, according to its most recent IRS filing. Capital Innovators, based in Cortex, has invested in more than 180 startups through its venture fund and accelerator programs since its launch in 2011.
