About this programme
The Mississippi Seed Fund provides early-stage funding for high-tech and high-growth firms in Mississippi. It is administered by Innovate Mississippi, with award decisions made by the Seed Fund's Investment Board. All awards work on a reimbursement basis: you spend the money on eligible project costs first, then get reimbursed.
The fund has four tiers: a Proof of Concept Grant, a Proof of Concept Loan, a Growth Fund, and an R&D Fund. As of this writing, only the Proof of Concept Grant and Proof of Concept Loan are active. The Growth Fund and R&D Fund show as not active because their allocated money has been spent, and Innovate Mississippi is seeking further funding from the Mississippi Legislature to reopen them.
Award money cannot be used for patents, company reorganization, payment of existing debt, or expenses incurred before the award date.
How it works
Proof of Concept Grant: $10,000 award against a $20,000 total project size, with a minimum 25% cash match and up to 75% in-kind match. It is a grant, with no repayment required.
Proof of Concept Loan: $25,000 award against a $50,000 total project size, with the same minimum 25% cash and up to 75% in-kind match. It is a loan with debt terms and a maximum 5-year repayment period.
Growth Fund (currently not active): $100,000 award against a $200,000 total project size, with a minimum 50% cash match from an accredited investor and up to 50% in-kind. It is structured as a convertible note with both debt and equity conversion options.
R&D Fund (currently not active): $250,000 award against a $500,000 total project size, with a minimum 50% cash and up to 50% in-kind match. It is also a convertible note with debt and equity conversion options, and requires a partnership with a Mississippi university or community college, with at least 51% of proceeds spent with that institution.
Innovate Mississippi collects quarterly financials on jobs, revenue and other economic-development data from awardees.
Reimbursements become available after a 4-week waiting period. Before release, business bank statements and invoices are collected, as required by Senate Bill 2851.
Who can apply
The company must be located in, or have relocated to and be primarily domiciled in, Mississippi.
The company must qualify as a small business under U.S. Small Business Administration standards (no more than 500 employees).
How to apply
- Complete the Entrepreneur's Survey for an initial eligibility assessment.
- If eligible, set up recurring development meetings with the Innovate Mississippi team through their Coach and Connect model, to develop your product/service description, market validation, business plan, business model and planned use of funds.
- Once you meet the criteria, the Seed Fund Investment Manager issues an invitation to formally apply.
- Deliver a live virtual pitch to the Mississippi Seed Fund Investment Board.
- If approved, sign the award agreement with Innovate Mississippi.
- Submit business bank statements and invoices as required, then receive reimbursement after a 4-week waiting period.
Frequently asked
Are all four Seed Fund tiers currently open?
No. The Proof of Concept Grant and Proof of Concept Loan are active. The Growth Fund and R&D Fund are not active because their funds have been fully spent; Innovate Mississippi is seeking more money from the state legislature to reopen them.
Does the Proof of Concept Grant have to be repaid?
No. It is a grant with no repayment required, though it does carry a minimum 25% cash match requirement.
What can't the award money be spent on?
Patents, company reorganization, paying off existing debt, or any expenses from before the award date.
Is the money paid up front?
No. Awards work on a reimbursement basis: you cover eligible costs first and are reimbursed afterward, after a 4-week waiting period and submission of bank statements and invoices.
What is required for the R&D Fund's university partnership?
The company must partner with a Mississippi university or community college, and at least 51% of proceeds must be spent with that institution.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.