- Date published
Springfield Area Chamber of Commerce and the Joplin Area Chamber of Commerce join efactory in building innovation-friendly region.
Collaboration: It’s essential to build a regional ecosystem that supports innovation and creates better job opportunities for its residents. Through Missouri Technology Corporation’s Regional Node Planning Grant (awarded in December 2023), resource partners in regions across the state worked together to reduce duplication and identify needs.
In August, MTC awarded Missouri State University’s efactory $200,000 and codefi $200,000 through the Regional Node Grant Program. With this, efactory will serve as the Network Lead of the SW Node and codefi will serve as the Network Lead of the SE Node.
Regional Connectors of the SW Node will be the Springfield Area Chamber of Commerce and the Joplin Area Chamber of Commerce. Southeast Missouri Regional Economic Development Inc. (SE MO REDI) and OzSBI will be the Regional Connectors of the SE Node.
“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,” stated Jack Scatizzi, executive director of MTC. “We are excited for the new regional node funding to support their ongoing efforts.”
Creating innovation havens
According to MTC, the goal of the Regional Node Grant Program is to award grant-based financial support to incentivize more of Missouri’s communities to:
- Coalesce assets and resources.
- Support innovation and entrepreneurship.
- Coordinate partnerships among entrepreneurial service organizations within the node.
“An organization our size cannot be all things to every entrepreneur, especially those operating in the spaces of emerging technologies,” said Travis Stephens, President & CEO at the Joplin Area Chamber of Commerce. “We truly value the opportunity to collaborate with our regional partners to provide greater possibilities to the dreamers and doers in our area.”
The inaugural 2024 Regional Node Grant Program, which will distribute $1.3 million in two-year grants, will establish six regional nodes across Missouri. This covers 69 Missouri counties and over 60% of counties in the state.
“Currently, more than 95% of Missouri businesses are classified as small businesses,” said Matt Morrow, President and CEO at the Springfield Area Chamber of Commerce. “That’s why it’s so important to build strong infrastructure to help small businesses thrive.”
“It was wonderful to see such an incredible community and regional response to the Roundtable we held this spring,” said Dean Thompson, who will serve as interim executive director of Leaders for Ozarks Region Evolvement, or LORE, beginning this fall.
Providing the best training and resources
Southwest Missouri is a tapestry of small businesses that have boomed. Think O’Reilly Auto Parts, Bass Pro Shops, Andy’s Frozen Custard and more.
“In Springfield, we stand on the shoulders of giants. Because of this history, we are passionate about helping startups and aspiring entrepreneurs. I’m personally inspired daily by the phenomenal work happening all around us,” said Rachel Anderson, executive director of efactory. “It’s always been part of our business model at efactory to provide easy access to support services, bringing partners together under one roof to ease the pains and lower the barriers to entrepreneurship.”
The Regional Node takes this ease of access one step further, Anderson said.
Providing a fuller scope of services across the region was the impetus for efactory partnering with Cape Girardeau’s codefi to develop the Southern Missouri Innovation Network, or Innovate SOMO. This partnership capitalizes on codefi’s strengths in providing education and a launchpad for tech-entrepreneurs paired with efactory’s talent development and business support services.
“We specialize in supporting high-growth tech startups because they are outsized drivers of employment in tech and other high-wage jobs,” said Dr. James Stapleton, co-founder of codefi. “By providing world-class development and coaching services to nascent entrepreneurs, and closing early-stage gaps in capital, we’re a catalyst for regional economic change. What we do increases the demand for more tech skills and high-quality jobs and contributes to the economic growth of our region.”
