With $200K grant, Efactory to establish SWMO entrepreneurial node

Missouri State University's Efactory is working to establish a southwest Missouri entrepreneurial node with $200,000 in grant funding.

MSU and the Efactory announced the Missouri Technology Corp. grant, received in August, in a news release this morning. The Springfield Area Chamber of Commerce and the Joplin Area Chamber of Commerce will be partners with the Efactory in establishing the regional node in southwest Missouri.

“Under the leadership of MSU’s Efactory, the region of southwest Missouri has made significant strides in reducing silos and improving entrepreneurs’ access to resources,” said Jack Scatizzi, executive director of MTC, in the release. “We are excited for the new regional node funding to support their ongoing efforts.”

MTC officials say the goals of the regional node grant program include the coalescence of assets and resources, support of innovation and entrepreneurship, and coordination of partnerships among entrepreneurial service organizations within the node.

“Currently, more than 95% of Missouri businesses are classified as small businesses,” said Matt Morrow, president and CEO of the Springfield chamber, in the release. “That’s why it’s so important to build strong infrastructure to help small businesses thrive.”

Cape Girardeau-based technology incubator Codefi LLC, the Efactory's partner in the Southern Missouri Innovation Network, or Innovate SOMO, also was selected for a $200,000 regional node grant. Codefi is slated to serve as the network lead of the southeast Missouri node, according to the release.

MTC regional node planning grant funding awarded late last year allowed resource partners such as the Springfield chamber and the Springfield Business Development Corp. to start organizing the nodes, reduce duplication and identify needs, officials say.