Mississippi Seed Fund
Tasha Bibb
Entrepreneurial Development Director
(601) 960-3610
tbibb@innovate.ms
Purpose of Initiative
“The Mississippi Seed Fund is managed by Innovate Mississippi. Innovate Mississippi provides high-tech, startup companies with access to pre-seed financing, early-stage risk capital and product development capital to stimulate and accelerate the development of high-performance, technology-based business ventures in Mississippi. The Seed Fund consists of the Proof of Concept, Research and Development, and New Technology Business programs.”
Application Process
“Potential applicants will meet with Innovate Mississippi staff to present their business plans and funding proposal. Once a proposal meets Innovate Mississippi application standards, the applicant will be formally invited to apply to the Seed Fund. A completed application and required documents, including a business plan or product development plan (R&D), will be filed with the Seed Fund program manager. Innovate Mississippi staff will then review the application, business plan and documents for completeness and compliance with eligibility requirements. Those applications and business plans that meet the standard criteria will be forwarded to an expert, third party reviewer for analysis and scoring. Once due diligence is complete, applications will be presented to the Seed Fund Investment Board for a final decision. Upon approval, the Seed Fund Agreement and Note will be prepared and signed by both parties. Draws on the award will be made on a reimbursement basis.”
Award Details
“Proof of Concept: Maximum one-time award of $10,000 Research and Development: Maximum award of $100,000 in any one year, with a $200,000 aggregate limit New Technology Business: Maximum award of $100,000 in any one year, with $200,000 aggregate limit.”
Updated April 2018 by Kristin Stiner