Our Impact

Missouri State University’s efactory, in collaboration with codefi, has been selected by the Missouri Department of Economic Development (DED) to administer the new Missouri Technical Assistance (MOTA) grant program. This initiative, backed by $2.9 million in federal funding from the State Small Business Credit Initiative (SSBCI), will expand technical services for small businesses and entrepreneurs across the state.

Last Friday, the Missouri Department of Economic Development (DED) announced an award of over $2.9 million out of Federal State Small Business Credit Initiative (SSBCI) funds to Codefi and Missouri State University’s efactory. This significant investment will expand the reach of the Southern Missouri Innovation Network (Innovate SOMO), enhancing entrepreneurial support services across the state. Innovate SOMO, co-led by Codefi and efactory, has been instrumental in fostering entrepreneurship in southern Missouri. The new funding will enable the network to broaden its services, including training programs, virtual and in-person classes, and one-on-one consultations. These resources aim to support entrepreneurs statewide, particularly in rural and underserved areas, by providing legal, accounting, and financial advisory assistance to improve business stability and access to capital. Rachel Munday, the Executive Director of efactory in Springfield has been quoted as saying “Many entrepreneurs are passionate about growing their businesses while staying rooted in their communities. 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.”

codefi and efactory were chosen to receive $2.94 million federal grant to expand technical assistance programs for entrepreneurs and small businesses. The Missouri Department of Economic Development Director Michelle Hataway joined regional business and economic development leaders on Friday afternoon, April 25 for the announcement.