Special startup business programs from Innovate Mississippi

Mississippi Seed Fund

The Mississippi Seed Fund provides early-stage funding for high-tech and high-growth firms in Mississippi. The program is administered by Innovate Mississippi with funding decisions made by the Mississippi Seed Fund board.

The Mississippi Seed Fund offers three different types of awards:

Proof of Concept Award

$10,000

$20,000

Minimum 25% cash and up to 75% in-kind

Example:
$10k seed fund loan
$2.5k cash match + $7.5k in-kind hours
= $20,000 project

Loan

Companies applying must be located in or must have relocated to, and be primarily domiciled in Mississippi.

Eligible applicants must be classified as small businesses in accordance with the U.S. Small Business Administration(mno more than 500 employees).

Innovate Mississippi will collect quarterly financials on jobs, revenue, and other economic development-related data.

Research & Development Award 

$100,000

$200,000

Minimum 50% cash and up to 75% in-kind

Example:
$100k seed fund amount
$50k cash match + $50k in-kind hours
= $200,000 project

Convertible Note

Partnership with a Mississippi university or community college with at least 51% of proceeds spent with that institution. 

Companies applying must be located in or must have relocated to, and be primarily domiciled in Mississippi.

Eligible applicants must be classified as small businesses in accordance with the U.S. Small Business Administration (no more than 500 employees).

Innovate Mississippi will collect quarterly financials on jobs, revenue, and other economic development-related data.

New Tech Business (Growth)

$100,000

$200,000

Minimum 50 % cash from an accredited investor and up to 50% in-kind

Example:
$100k seed fund amount
$50k cash match + $50k in-kind hours
= $200,000 project

Convertible Note

Companies applying must be located in or must have relocated to, and be primarily domiciled in Mississippi.

Eligible applicants must be classified as small businesses in accordance with the U.S. Small Business Administration (no more than 500 employees).

Innovate Mississippi will collect quarterly financials on jobs, revenue, and other economic development-related data.

How Can Your Startup Get a Mississippi Seed Fund Award?

1.) Fill out the Entrepreneur’s Survey

if you’re interested in finding out if your company qualifies for the Mississippi Seed Fund, please fill out the Entrepreneur’s Survey here:

Click here

2.) Attend and Participate in Development Meetings

Eligible startups can set recurring meetings with the Innovate Team to develop key documents through our Coach and Connect model:

  • Products or Services
  • Market Validation
  • Business Plan
  • Valley of Death
  • Business Model
  • Use of Funds

Ineligible applicants will be referred to potential alternative resources or directed to first secure a lead investor in order to substantiate their investment readiness.

3.) Receive Your Invitation to Apply

Seed Fund Awards are issued by the Seed Fund Investment Manager once the above criteria are met and fully developed. The Innovate Team will work with startups throughout the process.