- Date published
Funding allows technical assistance programs to be offered statewide.
Missouri State University’s efactory, in collaboration with codefi, has been selected to administer the Missouri Technical Assistance (MOTA) grant program on behalf of the Missouri Department of Economic Development (DED). This significant investment of federal grant funds will expand essential technical services for small businesses and entrepreneurs across Missouri.
As the selected subcontractor, Missouri State University is expected to receive $2,937,663 in State Small Business Credit Initiative (SSBCI) Technical Assistance Grant funds.
This award builds upon the success of the Southern Missouri Innovation Network (Innovate SOMO), which launched three years ago and serves Missouri’s 47 southernmost counties. It will extend technical assistance and business support programs throughout the state.
The MOTA grant is part of Missouri’s ongoing commitment to create an economic environment that empowers entrepreneurs to start, grow and scale businesses.
“This funding is an exciting opportunity to further support entrepreneurship in every region of our state, including rural areas,” said Michelle Hataway, Director of the Missouri Department of Economic Development. “We look forward to our partners using these funds to help Missourians prosper by expanding valuable services for small businesses.”
Through this new partnership, Innovate SOMO will expand its network approach and increase its efforts to support small businesses and startups by offering enhanced technical assistance and referrals to funding opportunities. The expanded program will help entrepreneurs access critical resources that enable growth and expansion. The MOTA grant will support the SSBCI Capital program by preparing startups and small businesses to apply for IDEA Funds, administered by the Missouri Technology Corporation (MTC), and IgniteMO, administered by Justine PETERSEN.
“MTC recognizes the challenges associated with early-stage companies and aspiring entrepreneurs in accessing the capital required to launch and grow their businesses,” said Jack Scatizzi, Executive Director of MTC. “MTC is excited to see the programs and services that Innovate SOMO can launch or expand with the federal SSBCI program funding to ensure all of the state’s entrepreneurs have access to the training and resources to access the capital they require.”
“Many entrepreneurs are passionate about growing their businesses while staying rooted in their communities,” said Rachel Munday, Executive Director of efactory. “By expanding resources to all corners of the state, we can provide more assistance and connections that help small businesses thrive no matter their location. This grant will enable us to open doors to new opportunities for many entrepreneurs and small business owners who are eager to grow and make an impact.”
“This grant allows us to build on what’s working in Southern Missouri and, through expanded partnerships, extend support to more entrepreneurs across the state,” said Chrystal Irons, Director of the Missouri SBDC at Missouri State University. “We’re committed to showing up in meaningful ways — offering guidance, opening doors, and helping business owners grow, wherever they are.”
“At codefi, we know that access to capital is one of the biggest challenges for tech entrepreneurs,” said Dr. James Stapleton, Founder and CEO of codefi. “This collaboration allows us to provide our proprietary tools and services to founders across Missouri to help validate their ideas and business models, acquire angel and venture capital, and achieve the traction to build successful tech ventures. We’re excited to be part of a project that will create meaningful change and unlock new pathways for people across Missouri.”
The expanded network will leverage the collective expertise of both organizations and partners in the network to provide small businesses and tech entrepreneurs with the tools, mentorship and resources they need to succeed. The initiative will also help to build stronger, more resilient regional economies by ensuring that entrepreneurs in all corners of Missouri have access to the capital and support they need to scale their operations.
