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New Innovate SOMO Fund Established through Partnership with Community Foundation of the Ozarks

Teams at the efactory and Codefi are excited to announce the creation of the Innovate Southern Missouri (Innovate SOMO) Fund. The fund, which is made possible through an innovative partnership with Community Foundation of the Ozarkswill play a critical role in connecting businesses to the capital they need to start and grow in southern Missouri.  

“Southwest Missouri believes in partnerships, collaboration and finding creative solutions. We are excited to strengthen Innovate SOMO with this innovative partnership with CFO to be able to provide capital to and assist more entrepreneurs and business owners throughout southern Missouri. We will work alongside Codefi and CFO’s robust affiliate network on supporting the innovators and job creators in our region,” said Rachel Anderson, Director of the efactory. 

Capital raised within the Innovate SOMO Fund will be used to create new grant, loan, and equity-based programs to support businesses and entrepreneurial support organizations across 47 counties in southern Missouri. 

“We are so pleased to be a part of this innovative partnership,” said Brian Fogle, President and CEO at Community Foundation of the Ozarks. “Our mission is to improve the quality of life in our region, and economic opportunities are critical to those efforts. Providing skills and investment to our rural communities is the key in promoting economic vitality in the Ozarks. We applaud the leadership and commitment of our partners in creating this opportunity. 

Starting today, individuals and organizations interested in supporting entrepreneurship, innovation, and economic development across southern Missouri can make tax-deductible contributions to the Innovate SOMO Fund.

About Innovate SOMO

Innovate SOMO is a first-of-its-kind partnership launched in spring of 2022 to transform entrepreneurial support and talent development across southern Missouri. Grant awards from the Missouri Technology Corporation to both efactory and Codefi are empowering two of the state’s most successful innovation hubs to accelerate digital workforce development and job creation and to support the growth of the next generation of industry-leading, high-growth companies in 47 counties across Southern Missouri. 

The network is supported by over 100 leading companies and stakeholders in the region and includes strategic partnerships with the Missouri Cybersecurity Center of Excellence, Jordan Valley Innovation Center, Crowder College, Missouri State University, Missouri State University-West Plains, Three Rivers College, Southeast Missouri State University, Community Foundation of the Ozarks, as well as support from workforce development, economic development, and Chambers of Commerce across the region.