Governor Mike Parson announced a new coworking and incubator grant that will provide $1 million for eligible Missouri-based non-profit corporation and university-sponsored coworking and incubator facilities.
“Supporting Missouri’s entrepreneurs and startup companies is key to our economy,” Governor Mike Parson said. “These individuals are not only developing innovative products but also businesses that will create new jobs and opportunities for the people of our state.”
The Coworking and Incubator Grant will be administered by the Missouri Technology Corporation and uses CARES Act funding to assist the state’s coworking and incubator facilities as they support economic recovery during the COVID-19 public health emergency.
“Missouri’s entrepreneurs play a critical role in the state’s economy,” Department of Economic Development Director Rob Dixon said. “By supporting these coworking facilities, we are connecting entrepreneurs with resources that will help their companies and products be successful.”
Due to COVID-19 related closures, many of the State’s non-profit corporation- or University-sponsored coworking and incubator facilities do not have access to the capital required to update their physical spaces in accordance with current public health guidelines. These organizations will be reimbursed with grant funds for expenses related to updating the facilities to encourage social distancing, adopting enhanced sanitation protocols, or acquiring PPE to comply with the guidelines of the public health emergency. Additional consideration will be given to applicants that engage Missouri-based vendors.
MTC will accept applications between July 22 and August 17. All applications will be reviewed at the same time, and awards will be tentatively announced from September 21 to October 2.
For more information about this program, visit missouritechnology.com/cares-act-funding.