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STL Business Journal Entrepreneurial Recap

Thursday, October 5, 2017  
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The following news and notes were presented at the MVF Breakfast Builders Event on October 6, 2017. News and notes are provided by Brian Feldt of the St. Louis Business Journal.


-A new professionally-managed fund called the Missouri Innovation Fund was one of more than 30 options delivered by a task force appointed by Gov. Eric Greitens to help spur innovation and entrepreneurship. Other ideas include various tax policy reforms, better marketing of the state and foster more collaboration between universities and entrepreneurs.

-A new $5 million seed fund organized by the St. Louis Regional Chamber will help cover the gap Chamber officials are calling the “valley of death.”

-Cofactor Genomics closed on an $18 million funding round from a venture capital group led by Menlo Ventures.

-Cultivation Capital raised about $30 million for its fintech startup investment fund. The fund now has $50 million in investable capital.

-Varsity Tutors made its first international acquisition, buying First Tutors of the United Kingdom. Varsity Tutors will continue looking for more M&A opportunities overseas, specifically in South Korea, China and India.

-St. Louis investors Cultivation Capital and BioGenerator have helped lead a $1.1 million seed round investment into digital health startup SentiAR.

-Ehan Kamat, a 17-year-old student at MICDS and inventor of a medical device called the Solemender, will appear on ABC’s reality TV show “Shark Tank” on Oct. 15.

-A Boston-area startup called Disarm Therapeutics  that took advantage of early funding opportunities through BioGenerator grant programs has raised $30 million from a group of investors led by Atlas Venture.

-Meanwhile, in an effort to better manage its portfolio, the BioGenerator plans to invest less in new companies and more in its existing portfolio.

-Lewis & Clark Ventures invested in a Boston-area agtech startup GreenLight Biosciences.

-Capital Innovators invested in six new startups, including two from St. Louis -- Clever Real Estate and Anchor.

-The Yield Lab has invested in New West Genetics, a Colorado-based company that breeds hemp varieties tailored for various end-use products.

-The next GlobalHack event will look to create software solutions to help tackle immigration issues.

-The state of Missouri’s software industry added approximately $7.1 billion in direct value to the U.S. gross domestic product in 2016, making Missouri the 18th most productive state. St. Louis is home to approximately 46,000 tech workers who make on average just less than $83,000 per year.

-Daugherty Business Solutions is expanding its footprint in the CityPlace office development by leasing 23,309 square feet formerly occupied by Microsoft, which earlier this year committed to moving to Cortex.

-Adarza BioSystems is moving its headquarters in early 2018 from St. Peters to Maryland Heights.

-Ameren is investing about $1 billion into new wind and solar generation projects.

more Calendar

MVF Breakfast Meeting November 3, 2017 (Speaker: Bryan Witherbee, Adarza BioSystems)

MVF Funding Forum, December 5, 2017 (Panel discusses funding options)

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