The Missouri State University efactory is expanding its partnership with rural tech incubator Codefi to help fund tech startups in southern Missouri. The co-creators of the Southern Missouri Innovation Network — also known as Innovate SOMO — have now launched Innovate SOMO Funds.
Codefi president and CEO Dr. James Stapleton says there are great tech ideas to be found outside of Silicon Valley. They just need a little extra help to get started.
The $2 million funding pool has the potential to unlock more entrepreneurship and innovation in Missouri's southernmost 47 counties. Innovate SOMO Funds' approach combines nonprofit charitable contributions with for-profit equity and revenue-based investments.
To qualify for funding, Stapleton says companies must be tech-based, be quality individuals within their field and have ideas with high growth potential.
To learn more about Innovate SOMO Funds, visit innovatesomo.org.
