Four startups were selected to participate in the Efactory's fifth business accelerator cohort.
AgButler, MiddleCoast Solutions, Tipper Mobile and Vendux are slated to be introduced Aug. 3 at the Robert W. Plaster Free Enterprise Center, the downtown home of the Efactory business incubator, according to a news release. The cohort kicks off July 19 and will run through year's end, with its Demo Day pitch event scheduled Nov. 12, said Paige Oxendine, assistant director of the Efactory.
Accelerator businesses receive $30,000 in seed money in exchange for 8% equity in their companies. The program, which offers mentorship, office space, networking and additional funding opportunities, returns this year after being called off in 2020 due to the coronavirus pandemic.
“The Efactory accelerator is a critical piece of our region’s efforts to support entrepreneurs and early-stage startups," said Rachel Anderson, director of the Efactory, when the cohort decision for 2021 was announced in April.
The four startups represent a variety of business solutions, including farming workforce needs, the correctional system, content monetization and sales assistance.
AgButler connects farmers with agriculture laborers with an app that's similar to a ride-hailing service. The business was founded by Kevin Johansen, a fifth-generation farmer in Lebanon, according to past Springfield Business Journal reporting.
Owned by Nic and Ali Lamphear, MiddleCoast Solutions makes web-based applications for correctional system issues, according to the release. The founders have backgrounds in law enforcement.
Tipper Mobile, founded by Jahbarie Jefferson, helps content creators make money on social media.
Vendux pairs veteran sales executives with growing businesses to fill short-term needs, according to the release. The company was founded by Henning Schwinum.
On Oct. 27, Convoy of Hope dedicated its new 250,000-square-foot distribution center and broke ground on its next project: a 200,000-square-foot headquarters and training center, which will be connected to the distribution center by a skywalk.