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New missouri fund to target high-tech startups

The St. Louis region has been struggling for years to grow more high-tech companies. On Tuesday, it got a truckload of fertilizer.

During a visit to the Center for Emerging Technologies, Gov. Jay Nixon said he would use $16.9 million in federal money to help plug what has long been called a hole in Missouri’s economic development pipeline: early stage financing for high-potential but unproven tech firms.

[St. Louis Post Dispatch]