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The Efactory's Innovate SOMO initiative with Codefi has been picked for Missouri Technology Corp. funding.
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The Efactory's Innovate SOMO initiative with Codefi has been picked for Missouri Technology Corp. funding.

$500K grant awarded to Efactory

Posted online

Missouri State University's Efactory is the recipient of a $500,000 grant.

The Efactory is among recipients statewide of over $3 million in grant funding through the Missouri Technology Corp.'s Missouri Building Entrepreneurial Capacity program, according to a news release.

The three-year grant is earmarked for the Efactory's Southern Missouri Innovation Network, or Innovate SOMO, initiative in partnership with Cape Girardeau-based technology incubator Codefi LLC.

"This grant award will help us roll out even more entrepreneurial training programs, open doors to real-world learning opportunities and help fill the talent pipeline," Efactory Executive Director Rachel Anderson said in the release.

Innovate SOMO’s programming includes training and education programs, business-building assistance and help in creating jobs. The annual economic impact of the initiative is estimated at around $37 million, according to past reporting.

MSU spokesperson Nicki Donnelson said the Efactory has been awarded $2 million in funding through the MTC's MOBEC program over the past 10 years.

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