Springfield and Joplin chambers join efactory in building innovation-friendly region
Collaboration is essential to build a regional ecosystem that supports innovation and creates better job opportunities for residents. In August, the Missouri Technology Corporation (MTC) awarded Missouri State University’s efactory $200,000 through the inaugural 2024 Regional Node Grant Program to align resources and incentivize entrepreneurship. This follows a Regional Node Planning grant awarded in November 2023 to the Chamber and its economic development arm, the Springfield Business Development Corporation (SBDC). The Chamber and SBDC hosted a regional planning roundtable in April to help reduce duplication and identify needs.
Building upon the successful regional collaboration of their joint Southern Missouri Innovation Network (Innovate SOMO), efactory and Codefi will serve as Network Leads of the Southwest and Southwest Nodes respectively. Here in the Southwest Missouri node, regional connectors include the Springfield Chamber and Joplin Area Chamber of Commerce.
“Under the leadership of MSU’s efactory, the region of southwest Missouri has made significant strides in reducing silos and improving entrepreneurs’ access to resources,” stated Jack Scatizzi, executive director of MTC. “We are excited for the new regional node funding to support their ongoing efforts.”
Creating innovation havens
According to MTC, the goal of the Regional Node Grant Program is to award grant-based financial support to incentivize more of Missouri’s communities to:
- Coalesce assets and resources.
- Support innovation and entrepreneurship.
- Coordinate partnerships among entrepreneurial service organizations within the node.
“An organization our size cannot be all things to every entrepreneur, especially those operating in the spaces of emerging technologies,” said Travis Stephens, Joplin Chamber president & CEO. “We truly value the opportunity to collaborate with our regional partners to provide greater possibilities to the dreamers and doers in our area.”
The 2024 Regional Node Grant Program will distribute $1.3 million in two-year grants and establish six regional nodes across Missouri. This covers 69 Missouri counties and over 60% of counties in the state.
“Currently, more than 95% of Missouri businesses are classified as small businesses,” said Matt Morrow, president of the Springfield Chamber. “That’s why it’s so important to build strong infrastructure to help small businesses thrive.”
Providing the best training and resources
Southwest Missouri is a tapestry of small businesses that have boomed. Think O’Reilly Auto Parts, Bass Pro Shops, Andy’s Frozen Custard and more.
“In Springfield, we stand on the shoulders of giants. Because of this history, we are passionate about helping startups and aspiring entrepreneurs. I’m personally inspired daily by the phenomenal work happening all around us,” said Rachel Anderson, executive director of efactory. “It’s always been part of our business model at efactory to provide easy access to support services, bringing partners together under one roof to ease the pains and lower the barriers to entrepreneurship.”
Providing a fuller scope of services across the region was the impetus for efactory partnering with Cape Girardeau’s Codefi to develop Innovate SOMO. This partnership capitalizes on Codefi’s strengths in providing education and a launchpad for tech-entrepreneurs paired with efactory’s talent development and business support services.
“We specialize in supporting high-growth tech startups because they are outsized drivers of employment in tech and other high-wage jobs,” said Dr. James Stapleton, co-founder of Codefi. “By providing world-class development and coaching services to nascent entrepreneurs, and closing early-stage gaps in capital, we’re a catalyst for regional economic change. What we do increases the demand for more tech skills and high-quality jobs and contributes to the economic growth of our region.”
