YOUR BUSINESS AUTHORITY
Springfield, MO
2022 Projection: Someone in southwest Missouri will launch a company in 2022 that grows into a unicorn – a company with a valuation of over $1 billion. It will of course take years for a company to grow to that point, but the talent is here, and the infrastructure to support entrepreneurs is getting more robust.
According to the National Bureau of Economic Research, new businesses are being created in record numbers during COVID-19. Why is that?
I’m not surprised that more businesses are launching. It’s fair to say that COVID caused a lot of people to re-evaluate their lives and careers and decide to pursue long-held dreams.
What do you see as the biggest trend in startups these days?
I see a lot of startups leveraging technology to develop their product or as a backbone of their business.
How is the current funding environment for startups?
It’s getting better. I think the primary challenge is matching investors with entrepreneurs. There is no all-inclusive “hub” where an investor can see all opportunities or where an entrepreneur can see all sources of capital. There are several groups working on that, including the Missouri Technology Corp. statewide and the Efactory here locally. And MTC is a great source for funding young companies.
What does it take for an entrepreneur to make it?
I believe it takes four things – and you must have all four to succeed.
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