Tech Companies React to Greitens’ Funding Cuts

ST. LOUIS (KMOX) – “New Missouri Governor wants to cut start-up funding big-time” was the headline on one tech website, after Gov. Eric Greitens announced plans to cut funding for the Missouri Technology Corporation from 22 down to 5 million dollars. Now, the start-up community is buzzing that the number might eventually get down to just 1.2 million dollars.

Venture Cafe’s Travis Sheridan says M.T.C. is important to keeping the city’s momentum going.

“It’s just like any other sort of economic development mechanism. Other states are doing this, and if we’re not it makes other states look more competitive, or more importantly it makes Missouri look less competitive,” he says.

Some of M.T.C.funding goes to Arch Grants, which has attracted nearly a hundred start-ups to St. Louis. These budget numbers are far from final. State legislators have until May 5th to pass their own version of the budget.

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