The eFactory’s is making changes to its Business Accelerator program.
Rachel Anderson, The eFactory’s entrepreneurial specialist, said the program will make the switch to one cohort from two next year. The third cohort, starting May 14, will comprise 10 businesses as opposed to four or five formerly.
One of the biggest driving factors behind the change was increasing attendance at the program meetings. In a class of four, Anderson said sometimes only two of the company founders could meet – which eliminated the desired communal atmosphere the accelerator intends to create.
“I think one of the biggest benefits of the accelerator is going through it with other people,” Anderson said. “A lot of times, you can’t talk with a friend or even a partner or your family about what you’re going through because they just don’t understand.
“Having other founders who are going through the same stage, same growing pains, makes a world of difference and the learning that happens is pretty awesome.”
The new format also will help to accommodate future startups via The eFactory’s partnership with the Springfield Area Chamber of Commerce’s Greater Ozarks Center for Advanced Professional Studies, as students get involved with promoting the Business Accelerator. GO CAPS will operate out of the Business Accelerator space nine months out of the year, while the accelerator operates three months.
“This will really allow us to kind of maximize not only the space needed, but to better serve GO CAPS. The room GO CAPs is in, we have already leased out to another company,” Anderson said, referring to Chicago, Illinois-based Vault, which officially signed a lease Sept. 25.
The third accelerator cohort will run May 14-Aug. 13. Applications will be accepted Dec. 1-Feb. 28, 2018. For more information and to apply for the program, visit eFactory.MissouriState.edu, and click on “what we do” in the navigation bar.
The eFactory’s second cohort wrapped up in May with Demo Day. Through the accelerator, companies receive a $30,000 investment and business resources in exchange for 8 percent equity.
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