Applications for efactory Accelerator Program Open May 1
Applications for Cohort 5 of the efactory Accelerator program will open on May 1, 2021 and remain open through midnight on May 31, 2021. The program, which helps entrepreneurs jumpstart companies and shave years off their roadmap to success, provides selected participants with a capital investment in addition to world-class support and entrepreneurial resources.
Companies selected to participate in Cohort 5 will each receive a $30,000 investment in exchange for eight percent equity. All participating companies also gain access to a dedicated business consultant with the Missouri SBDC at MSU, a lead mentor, industry introductions, specialized programming, founder peer groups and roundtables, legal and accounting assistance, our full mentor network and more. Content and programming for the accelerator will be delivered in on-demand, in-person, and virtual formats so founders can stay focused on growing their business.
“The efactory accelerator is a critical piece of our region’s efforts to support entrepreneurs and early-stage startups. The strategic changes and investments we’ve made over the last year will allow us to deploy resources and support to selected companies in ways we’ve never been able to before. On-demand content blended with in-person and virtual activity will truly be a game changer for the companies selected to participate in Cohort 5,” said Rachel Anderson, Director of the efactory.
The accelerator will kick off on July 19, 2021 and will include 18 weeks of programming and support. Demo Day will be held the week of November 15, 2021. Participants will receive an additional six weeks of workspace at the efactory and resources after Demo Day through the remainder of 2021.
The efactory accelerator program was launched in 2017. Initial investors in the seed capital fund include Missouri State University Foundation, the Missouri Technology Corporation, Rural Missouri Inc., and the Springfield Business Development Corporation. BancorpSouth, Central Bank, Great Southern Bank, U.S. Bank, and Wood & Huston Bank each made additional investments in the seed capital fund in 2019.
The accelerator program has invested in a portfolio of 17 companies to date, including Springfield-based startup Compatio, which has gone on to raise over $2 million in private investment since participating in Cohort 4.
Learn more about the program and apply at efactory.missouristatate.edu/accelerator. Interested entrepreneurs can also schedule a call with efactory team members to ask questions about the program.