Business bootcamp for diverse, women-owned companies on the way

With initial funding from a national bank, the Efactory and Missouri Small Business Development Center at Missouri State University are launching a business bootcamp for diverse and women-owned companies.

A $30,000 donation from the U.S. Bank Foundation allows up to 10 businesses to participate in early stage business training at no cost to them, according to a news release.

“We are committed to the Springfield community by investing in opportunities where we can help train and encourage minority business leaders and owners,” said Tim Oetting, U.S. Bank business banking sales manager, in the release. “As part of U.S. Bank Access Commitment, we are building wealth in underserved communities, and this training program aligns perfectly in reaching our goals that are part of this long-term effort.”

When the program debuts in early 2023, it is slated to be held at the Efactory, MSU's downtown business incubator. Applications will open in late fall, organizers said.

The Efactory and the Missouri SBDC are partnering with the U.S. Bank Foundation, Multicultural Business Association, United WE and the Missouri Women’s Council on the business bootcamp, according to the release.

The U.S. Bank Foundation also has awarded tens of thousands of dollars to minority-owned businesses in recent months through the Ascend program partnership with the Efactory, Multicultural Business Association and the Downtown Springfield Association, according to past reporting.