MISSOURI TECHNOLOGY CORPORATION OVERVIEW FOR THE MISSOURI SENATE

MISSOURI TECHNOLOGY CORPORATION OVERVIEW FOR THE MISSOURI SENATE JOB CREATION 2020 COMMITTEE Jason R. Hall Executive Director jason. hall@ded. mo. gov NOVEMBER 18, 2009

Entrepreneurship in Missouri

Strategies for Economic Development Business Recruitment Business Expansion Entrepreneurism/New Business Formation

Entrepreneurial Success Entrepreneurship has been successful historically in growing Missouri’s economy Anheuser-Busch Cerner Corporation H&R Block Leggett & Platt Monsanto Seven of the ten largest companies headquartered in Missouri were established by individual entrepreneurs around the turn of the century

Current State of Missouri Entrepreneurship Missouri lags behind other states in leading indicators of entrepreneurship as measured by the Kauffmann Foundation 37 th Overall 44 th in Economic Dynamism 49 th in Entrepreneurial Activity 50 th in Business Launches per Month What does the future look like if we do not have new business ventures in our economic development pipeline? Sources: Parry, Mark E. , “Missouri’s Need for Risk Capital: An Assessment and Recommendations”; Kauffman Foundation, “The 2008 State New Economy Index”; and “ Kauffman Index of Entrepreneurial Activity 1996 -2008”

Opportunity for Technology-Based Entrepreneurship in Missouri is among the leading recipients of competitively funded federal research Consistently ranks 12 th in NIH grants Recently ranked as high as 9 th in federal R&D grants Missouri is home to world-class research institutions Danforth Plant Science Center Midwest Research Institute Stowers Institute for Medical Research University of Missouri Washington University in St. Louis Sources: Parry, Mark E. , “Missouri’s Need for Risk Capital: An Assessment and Recommendations”; Kauffman Foundation, “The 2008 State New Economy Index”; and “ Kauffman Index of Entrepreneurial Activity 1996 -2008”

Research is the Foundation for High-Tech Entrepreneurship Proof of Concept Research Product Development and Introduction Company Maturity Growth

Missouri Technology Corporation

MTC BACKGROUND Authorized by the Missouri General Assembly in 1994 Charged with leading the Missouri’s technologybased economic development efforts Independent 501(c)(3) corporation led by 15 member board of directors

MTC Leadership Board membership 11 members appointed by governor (9 private sector, 2 public sector) President of UM System or designee Director of Missouri Department of Economic Development or designee 1 member of the Missouri House of Representatives 1 member of the Missouri Senate Governor selects Chair annually Governor nominates and Board selects Executive Director

Overview of MTC Programs Research Capacity Commercialization Programs Entrepreneurship Investment Capital Formation Innovation Centers Strategic Initiatives Scientific Infrastructure High-Technology Business Development Workforce Development

Research Capacity

Research Alliance of Missouri MTC serves as administrator for the Research Alliance of Missouri (RAM) RAM membership consists of the chief research officer of Missouri’s 14 public and private research universities Includes Danforth Plant Science Center, Stowers Institute for Medical Research, and Midwest Research Institute Community interest in adding Lincoln University to RAM

Life Sciences Research Trust Fund MTC serves as the administrator for the Life Sciences Research Board Created in 2003 (House Bill 688) 7 -member Life Sciences Research Board appointed by the Governor (LSRB) and confirmed by the Senate The mission of the Board and the Trust Fund is to enhance research capacity in life sciences and to transform life sciences research into commercial opportunities

Life Sciences Research Trust Fund Eligible research areas include: Animal science Plant science Medical device Biomaterials and composite research Diagnostics Nanotechnology related to drug development and delivery Clinical imaging Information technology related to human health

Commercialization Programs

Commercialization Programs Entrepreneurship Investment IT Initiative Medical Device Innovation Missouri Source Link Missouri Technology Innovation Program (MOTIP) Intellectual Property Management Fund Capital Formation Ag-Biotech Recruitment Fund Angel Investor Network Program Collaboration and Interdisciplinary Program Missouri Venture Partners

Innovation Centers 10 state-funded innovation centers MTC charged by statute to oversee the network Serve as a focal point for commercialization of university technology Innovation center companies include Equinosis, Stereotaxis, Yurtopia Springfield innovation center landed major federal research project to develop advanced communications equipment for special military forces

Innovation Centers Original innovation centers located near Missouri’s research institutions Columbia Kansas City Rolla St. Louis Additional innovation centers established since 1989 Cape Girardeau Joplin Kirksville Springfield St. Joseph Warrensburg

Strategic Initiatives

Strategic Relationships MTC facilitates partnerships to further Missouri’s technology-based economic development goals University Research Institutions Capital Investors Industry

Strategic Initiatives Scientific Infrastructure High-Technology Business Development Animal Health Research Center (Western Missouri) Missouri Plant Science Center in Mexico, Missouri Technology Park at Fort Leonard Wood High-Technology Marketing and Promotion Missouri-Israel Initiative Workforce Development Ag-Biotech Outreach Program Animal Health Workforce Initiative (St. Joseph) Missouri Center for Advanced Power Research (Joplin)

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