Springfield Angel Network receives state grant

Four Missouri angel investment groups, including the Springfield Angel Network, have each received a $30,000 one-year grant.

The grants, which have an optional one-year renewal, are through the Missouri Technology Corp. They will fund operational expenses, such as staff, and professional services to review potential investments, member training and development, according to a news release from the state Department of Economic Development.

Centennial Investors in Columbia, St. Louis Arch Angels, and Show Me Angels in Lee's Summit are receiving grants, in addition to Springfield's angel investor, which was formed last summer. Angel investor groups provide seed and early-stage capital to entrepreneurs and companies that are "in the gap beyond self-funding but before traditional venture capital funding," the release said.

The Missouri Technology Corp. was created in 1994 to lead the state's efforts in technology-based economic development and to turn high-tech progress into jobs and products.