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BBB Charity Review for
Innovate Mississippi

A BBB Accredited Charity since 2/17/2009

 

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The information in this report has either been provided by the charity, or has been compiled by BBB from other sources.

Charity Contact & Profile

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Business Name:
Business Address: 134 Marketridge Dr
Ridgeland, MS 39157
See the location on a Mapquest Map
See the location on a Google Map
Original Business Start Date: 11/10/1998
Type of Entity: Charity/NonProfit
Principal:
Tony Jeff, President/ CEO
Phone Number:
(601) 960-3610
Type of Business:
CHARITY - LOCAL
Primary Email: tjeff@innovate.ms
Website Address:

Evaluation Conclusions

This organization has been evaluated in relation to the 20 Better Business Bureau Standards for Charitable Accountability. This organization meets all those standards.

Mission

The mission of the Mississippi Technology Alliance is to drive innovation and technology-based economic development for the State of Mississippi. MTA is a non-profit organization set-up into three centers:

•The Center for Innovation & Entrepreneurship
•The Center for Innovation-Led Economic Development
•The Center for Capital Formation
These three centers facilitate our mission to help entrepreneurs, manufacturers, communities and investors create Mississippi companies.

Programs

Center for Entrepreneurship and Innovation

The Center for Entrepreneurship and Innovation consists of 7 programs using a set of proprietary web-based commercialization applications devoted to prospecting for commercially promising research, identifying, developing and supporting high-performance business ventures, and recruiting qualified business executive talent.  These programs include:
1.  Entrepreneurial Development
2.  Entrepreneur in Residence
3.  Entrepreneurial Service Providers Database (ESP)
4.  Manufacturing Extension Partnership of Mississippi (MEP.ms)
5.  MS Executive Talent Exchange (MXTX)
6.  Strategic Biomass Solutions (SBS)
7.  Client Spotlight

Center for Capital Formation

There is a “funding gap” in Mississippi – technology entrepreneurs have trouble finding seed and early stage capital with which to build their companies. Historically there has been no organized, statewide network of accredited investors interested in early stage Mississippi companies. The Mississippi Angel Network was formed to organize these investors and provide entrepreneurs a more effective means to gain access to early stage capital.

The Mississippi Seed Fund is managed by the Mississippi Technology Alliance (MTA). MTA provides high-tech, start-up 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 Mississippi Federal & State Technology Partnership Program's (MS-FAST) aim is to provide encouragement and assistance to Mississippi's small high-tech businesses in participating in the federally funded Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs and the commercialization of technologies developed by businesses as a result of these programs.

Center for Innovation Led Economic Development

MTA has developed five ILED training modules to educate stakeholder about the importance of innovation-led economic development approaches as part of an overall economic development strategy including best practices for regional approaches and Mississippi-specific activities and programs. Each 2-hour workshop can be presented onsite in your region at no cost to participants. Topics covered are: Introduction to ILED, Commercialization 101, Commercialization Tools, Angel Investing 101 and Market Research Methods.

The MTA Venture Development Academy is a group of courses designed to outline a systematic process to make early-stage innovation-based ventures successful through a series of lectures and exercises walking participants through the MTA venture development process. In addition to course instruction, various materials and password access to www.venturecapitaltools.com is included in each course.


There are currently four courses available:

Venture Coaching Academy, Venture Development Academy – Investor-Ready Deals, Renewable Energy Venture Development Academy (REVDA) and Venture Development Academy – Existing Business Innovation


Governance

Board Size:22
Paid Staff:24

Fundraising Methods

The Mississippi Technology Alliance works to advance innovation and technology-based economic development for the State of Mississippi with generous support from many of our state's leading companies. Sponsorship levels are listed below. For more information, or to become an MTA Sponsor, please contact Sandra Buckley.

Financial Summary

According to the IRS Form 990 for the Fiscal Year ended 6/30/2011:

Total Income $3,555,113.00
Total Expenses $3,725,493.00
Gain/Loss for the Year ($170,380.00)

Expense Breakdown
Item Amount % of Expenses
Programs $2,550,088.00 68.45%
Fund Raising $0.00 0.00%
Administrative $1,175,405.00 31.55%
Miscellaneous $0.00 0.00%

Income Breakdown
Item Amount % of Income
Contributions $2,978,591.00 83.78%
Program Service Revenue $307,480.00 8.65%
Dividends $112.00 0.00%
Other $268,930.00 7.56%

This report is not to be used for fundraising or promotional purposes.

Customer Complaint History

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BBB has processed no customer complaints on this charity in its three year reporting period.

Government Action(s)

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BBB has no information regarding government actions at this time.

Advertising Review

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BBB has no information regarding advertising review at this time.

Additional Information

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Mississippi Technology Alliance does not have fundraisers such as direct mail solicitation or special events. MTA receives contributions and funds from governmental grants and other sources.

BBB Copyright and Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Review are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable, but not guaranteed as to accuracy.

BBB Business Review generally cover a three-year reporting period. BBB Business Review are subject to change at any time.

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Report as of: 9/22/2014
Copyright © 2014 Better Business Bureau®, Inc. serving Mississippi

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