Amid an atypical year brought on by the coronavirus pandemic, clients of the Efactory secured $17 million in capital and equity.
The downtown business incubator's 2020 report additionally indicates client companies created over 280 jobs last year. For example, Efactory client Compatio LLC, an e-commerce software developer, recently announced it raised $1.5 million in a seed round. That brings its fundraising up to $2.4 million to date, according to past reporting.
Additionally, 2020 statistics from the Efactory include:
• a dozen incubator client graduations;
• more than 25 business starts assisted by the incubator's staff; and
• $5 million in research and grant funds secured.
However, compared with the Efactory's 2019 report, economic development figures softened in 2020. Clients in 2019 secured $26 million in capital and equity and created more than 290 jobs, according to the prior year report.
During 2020, Efactory officials say they worked with the mantra of, "even when it feels like everything has changed, our purpose remains the same."
SBJ interviews the owner of David Potter Agency Inc.
Caleb Scott, owner and coach of the Queen City Insane Asylum, says the name for the team was chosen lightheartedly. He said the name also catches people's attention.
Barak Hill gives advice based on what he learned from the COVID-19 pandemic and how it affected his business. He says we should all have a backup plan ready to use.
Sandy Higgins, owner of the Crackerjack Shack, recommends the book "The E-Myth Mastery" by Michael E Gerber. She says it changed the course of how she runs her business.
Aaron York describes the work culture he tries to foster at Donco3 and why he attributes to it a part of Donco3's success. Rachel York is a co-owner of Donco3 and Aaron is the General Superintendent.
Hollie Elliott, executive director of the Dallas County Economic Development Group, explains how local schools factor into business decisions and affect a local community.
Rachel Barks, owner of Artistree Pottery, says an important lesson she learned was not to over-expand and to do her research before hand. She gives examples from her experience as a startup business owner.
Jim and Debbie Meinsen own TCI Graphics, and are now celebrating 50 years of business. Jim Meinsen takes some time to explain his philosophy on debt, and how to stay out of it.
Caleb Scott, owner and coach of Queen City Insane Asylum semi-professional football, says the early grind was hard, but it was worth it. The team is in their second season carrying a national ranking of number 2 in the NFA IDFL.
Barak Hill, local musician and entrepreneur, tells about his switch to livestreaming in 2020. He says it was a necessary move, but also not an easy one.
Jessica Burkland, a SCORE mentor and an instructor at the MSU Department of Management, gives us a rundown of the non-profit organization SCORE. SCORE stands for Service Corps of Retired Executives and offers free consultation and advice to business owners.