Efactory secures $500K grant

The Efactory has secured additional funding from the Missouri Technology Corp., a public-private partnership that has long supported the downtown business incubator owned by Missouri State University.

The MTC has awarded the Efactory a three-year grant totaling $500,000 through its Missouri Building Entrepreneurial Capacity program, according to a news release issued yesterday. MSU spokesperson Nicki Donnelson said the grant agreement became official in mid-June.

“The MOBEC grant program allows for strategic investments in Missouri’s entrepreneurial ecosystem,” MTC Executive Director Jack Scatizzi said in the release. “By supporting the organizations that serve the state's entrepreneurs, we’re expanding the entrepreneurial capacity by providing the resources needed for innovators to thrive and drive economic growth throughout the state.”

The funding will go toward the Efactory's operations and its work to help launch and scale businesses in the region.

"This award from MTC helps make what we do possible,” said Rachel Munday, executive director of the Efactory, in the release. “We are grateful for MTC’s support and are excited to deepen our impact by helping more businesses grow and thrive.”

Donnelson said MSU and the Efactory combined have received more than $11 million in funding from the MTC since 2007. Included in that figure is $2.5 million in MOBEC grant funds to date for the Efactory, she said.