Missouri Technology Corporation will partner with TEConomy to advance entrepreneurship and innovation statewide

August 12, 2021

JEFFERSON CITY, Mo. — The Missouri Technology Corporation (MTC) announced today it will partner with TEConomy Partners, LLC, to conduct a statewide, data-driven initiative to support entrepreneurship and innovation. The initiative was first announced by MTC earlier this year and aims to drive economic growth through the next decade.

"TEConomy has an impressive history of working to support economic development initiatives across Missouri, both in its rural areas and urban communities," said Chairman of MTC Dr. Dedric Carter. "MTC is excited to partner with TEConomy on this transformative strategic initiative to advance entrepreneurship and innovation throughout the state."

TEConomy is a global leader in research, analysis, and strategy for innovation-based economic development, and was selected through a public RFP process for their comprehensive knowledge of entrepreneurial ecosystems. The company has worked extensively with other states to develop strategic action plans that boost economic development. MTC will leverage TEConomy’s expertise to create an updated and data-driven plan that advances entrepreneurship and accelerates growth in Missouri. This will result in higher-paying jobs that will benefit communities statewide.

“We are excited to undertake this project, which we believe will have a catalytic effect on Missouri’s economy,” said Deborah Cummings, Principal and Senior Director of TEConomy. “Our intent is to forge a strategic plan that can help inform Missouri's leadership on how best to promote entrepreneurship and advance technology and innovation across the state. The strategy will ultimately lead to new programs and/or the reconceptualization of existing programs to address current gaps in Missouri’s entrepreneurial ecosystem.”

MTC’s strategic initiative will be guided by a steering committee of approximately 15 thought leaders representing Missouri entrepreneurs. A quantitative analysis will compare innovation and entrepreneurship activity to peer states, while a qualitative analysis will help determine Missouri’s strengths and weaknesses. This work will produce a strategic plan that provides recommendations for programs, policies, and initiatives designed to create a road map for addressing Missouri’s evolving entrepreneurial and innovation needs.

MTC plans to bring together diverse voices across Missouri through interviews, regional focus groups, and a survey. Feedback obtained through the survey is critical to sharpening the plan’s focus on statewide goals for innovation, entrepreneurship, and economic development. To provide input, please complete the survey.

For more information about MTC and the entrepreneurship and innovation initiative, visit missouritechnology.com.

About MTC

Missouri Technology Corporation is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies. Its mission is to provide leadership and make strategic investments that help entrepreneurs create and grow technology-based businesses in Missouri.

MTC has deployed nearly $44 million in funding to over 135 innovative startups through its IDEA fund, helping the companies raise more than $1 billion in additional private capital. Additionally, MTC has partnered with more than 60 non-profit organizations statewide, investing more than $29 million in projects that have served thousands of Missouri small businesses.

About TEConomy Partners, LLC

TEConomy Partners, LLC, is a global leader in research, analysis, and strategy for innovation-driven economic development. TEConomy is experienced in developing innovation/entrepreneurial ecosystems, and has worked with numerous regions and states to develop strategic action plans to generate results. The experts at TEConomy also work with clients to assess scientific and technological core competencies and develop strategic roadmaps that leverage science and technology assets. TEConomy extensively practices economic analytics and applies this expertise to in-depth economic and functional impact analysis for government, higher education institutions, academic medical centers, industry associations, and other client groups.

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