RMI will be presenting The eFactory with a $150,000 check as the lead investment in the new seed capital fund. The check presentation will take place at The eFactory (405 N. Jefferson Ave. Springfield, MO 65806) on Thursday, April 16th at 4 pm. Missouri State University President Clif Smart and RMI CEO Ken Lueckenotte and will be giving remarks.
The eFactory, a Missouri State University program, is a technology-focused entrepreneurship center and business incubator. Clients of The eFactory are provided with access to office space with flexible leases, business services and equipment, technology support, mentoring and consulting.
RMI, a 504 Loan Program leader, is a financial resource for improving the economic well-being of individuals, businesses and communities. RMI helps people access capital to build businesses, create jobs and enhance community growth.
The investment from RMI will establish an accelerator and a seed capital fund. “Early stage funding is imperative for startup and emerging companies to achieve a level of preparation and proof of concept necessary to realistically pursue significant rounds of funding. Access to seed capital and complementary programs is critical the development of a nationally-renowned culture of entrepreneurship and innovation that can serve as a competitive advantage and sustainable asset for Springfield,” said Brian Kincaid, Director of The eFactory.
Companies applying for the accelerator at The eFactory will be selected through a competitive application process. Once selected, they will receive funding through the seed capital fund with the final investment decision made by an investment advisory board comprised of seed fund investors, business and community leaders. Companies who are selected for the accelerator will be provided $30,000 in seed funding, project-based mentorship, office space at The eFactory, networking opportunities and introductions to follow-on funding opportunities over the course of 12 weeks.
“We’re excited to be part of entrepreneurial culture in southwest Missouri and are pleased to help fill the need for startup and emerging companies to be able to develop their proof of concept business ideas, small-scale implementation and preparation for follow-on funding,” said Ken Lueckenotte, CEO of RMI.
“We’re thrilled to have RMI as a partner and lead investor in our new seed capital fund. The fund will help us to foster the growth of newly formed companies that will bolster the entrepreneurial culture of Springfield, create new, high-wage jobs and attract emerging companies to southwest Missouri,” said Allen Kunkel, Associate Vice President of Economic Development at MSU and Director of the Jordan Valley Innovation Center.
About The eFactory
The eFactory is a technology-focused entrepreneurship center and business incubator. Created to serve as a one-stop-shop for small business owners, The eFactory provides resources, guidance, and assistance to start-up businesses to help them succeed and grow. The eFactory is part of IDEA (Innovation, Design, Entrepreneurship and the Arts) Commons, Missouri State University’s vision and commitment to create an urban innovation park that is blended with residential, retail, commercial, and entertainment facilities, and supported by multidisciplinary university programs.
RMI is a financial resource for improving the economic well-being of individuals, businesses and communities. For more than 25 years, RMI has been recognized as a 504 Loan Program leader. RMI has built a reputation for excellence by meeting the high standards of the commercial lenders and borrowers served. As a result, satisfied customers form the basis for growth.
News-Leader: The eFactory announces accelerator program and seed capital fund