Missouri Technology Corporation (MTC) announced today it will award over $1 million in infrastructure-focused grant funding to help build support for startups and entrepreneurship throughout Missouri through the Missouri Building Entrepreneurial Capacity Program (MOBEC).
“We are excited to support these startups and entrepreneurs,” said Governor Mike Parson. “Missouri’s innovators are a key part of strengthening our economy and ensuring their success creates an even brighter future for Missouri’s citizens.”
The MOBEC Program provides funding to expand the capacity of non-profit organizations supporting entrepreneurs, as well as research institutions looking to attract competitive funding. The program is used to enhance research and development in targeted high-tech industry clusters and to help create jobs through entrepreneurship and innovation.
“Through the MOBEC program, we are supporting our startups and entrepreneurs and fostering innovation,” Jack Scatizzi, MTC Executive Director said. “Improving our infrastructure for startups will make Missouri an even better place to start and grow a business.”
To date, through MOBEC and other grant programs, MTC has partnered with over 60 entrepreneurial support organizations in communities across the state and awarded almost $27 million in entrepreneurial-focused infrastructure grants that have served thousands of small businesses.
“This program helps our state create an environment where entrepreneurs and startups can thrive,” Director of the Missouri Department of Economic Development Rob Dixon said. “These innovators are the future of Missouri’s economy and we’re happy to support their continued growth.”
In addition to serving as a statewide connector for Missouri’s innovation community, MTC makes strategic, direct investments to promote entrepreneurship and foster innovation in Missouri. Over the past decade, MTC has invested just under $44 million into over 135 early-stage Missouri-based high growth technology-focused companies, which have raised over $1 billion in additional private capital.
About Missouri Technology Corporation
The Missouri Technology Corporation is a public-private partnership created to promote entrepreneurship and foster the growth of new and emerging high-tech companies. MTC’s vision is to transform Missouri through the power of entrepreneurship by serving as a catalyst for technology-based innovation to achieve sustainable economic growth and its mission is to provide leadership and make strategic investments that help entrepreneurs create and grow technology-based Missouri businesses. To learn more, visit our website.
The following grant proposals were approved:
Arch Grants is a nonprofit organization that provides $50,000 equity-free grants and pro bono support services to entrepreneurs who locate their early-stage businesses in St. Louis. Through its competitive Global Startup Competition, Arch Grants attracts and retains the most innovative entrepreneurs to the St. Louis region. The MOBEC grant will be used to aid Arch Grants’ support for entrepreneurs.
BioSTL has a comprehensive set of transformational programs that advance St. Louis’ leadership in solving important world challenges in agriculture, medicine, health care, and other technology areas. The MOBEC grant will be used to fund the BioSTL Diversity, Equity and Inclusion program. This program exists to empower underrepresented talent to pursue and develop STEM-enabled ventures within health and wellness, plant and agriculture science, and food and nutrition.
Joplin Area Chamber of Commerce Foundation
The Joplin Area Chamber of Commerce Foundation will use the MOBEC grant to institute a collaborative approach to new and existing entrepreneurial events, mentorships, workspaces, and funding sources. This project will provide better support to emerging bioscience and technology business sectors.
LaunchCode’s Kansas City Entrepreneurial Tech Opportunity Accelerator is a program that focuses on providing no cost tech skill training to community members and places graduates into tech apprenticeships with local companies. The MOBEC grant will enable program expansion to allow LaunchCode to train more than 100 women through foundational tech courses.
LEANLAB Education helps entrepreneurs conduct commercialization research for emerging education technologies inside public school classrooms. To accomplish this, LEANLAB has coordinated an unparalleled network of innovative schools across the Kansas City region and plans to expand that network in the coming years across Missouri, thus creating a hub for education technology and innovation like no other in the country. The MOBEC grant will support these efforts.
Missouri State University
The MOBEC grant will support the Supercharge Southwest Missouri effort that will leverage innovation and entrepreneurship assets across more than 16 counties to create and amplify new technologies, businesses, resources, capital investment strategies, and more. The program will accelerate high-quality job growth, create economic opportunities, and support the next generation of industry-leading companies in Southwest Missouri.
The MOBEC grant will support WEPOWER’s Elevate/Elevar Accelerator (E/E) to elevate high-potential St. Louis based Black and Latinx founded businesses by providing access to capital, entrepreneurial mentoring/networking, and entrepreneurial training/education.