Governor Parson Announces $1M Coworking and Incubator Grant Program
The program will assist centers in response to COVID-19.
Supporting Missouri’s Innovation Centers
Governor Mike Parson has announced a new grant program focused on helping Missouri’s incubators and coworking facilities respond to the coronavirus pandemic. The program has made $1 million available for eligible Missouri-based non-profit corporations and university-sponsored coworking and incubator facilities.
“Supporting Missouri’s entrepreneurs and startup companies is key to our economy,” Governor Mike Parson said. “These individuals are not only developing innovative products but also businesses that will create new jobs and opportunities for the people of our state.”
Equipping Innovation Centers to Respond to COVID-19
The Missouri Technology Corporation (MTC) will administer the Coworking and Incubator Grant using CARES Act funding. The program will assist Missouri’s incubators and coworking spaces as they play an important role in our state’s economic recovery.
“Research shows that startups and small businesses create nearly 80% of Missouri’s new jobs annually. It’s crucial that our state’s innovation centers can continue the important work of supporting these entrepreneurs and job creators. This grant program will help centers respond to the demands put in place by COVID-19 while still carrying out the important work of helping businesses start and grow right here in Missouri,” efactory Director Rachel Anderson said. “I would like to thank Governor Parson, Director Dixon and the Missouri Technology Corporation for this opportunity.”
Eligible organizations may be reimbursed with grant funds for expenses related to updating facilities. Examples of updates include: changes made to encourage physical distancing, adopting enhanced sanitation protocols, or acquiring personal protective equipment. Applicants are encouraged to engage Missouri-based vendors when possible.
“Missouri’s entrepreneurs play a critical role in the state’s economy,” Department of Economic Development Director Rob Dixon said. “By supporting these coworking facilities, we are connecting entrepreneurs with resources that will help their companies and products be successful.”
MTC will accept applications for the program through August 17, 2020.