Inaugural eFactory accelerator class starts up in Springfield

Four early-stage companies embarked on a new journey this week as part of the inaugural accelerator class at Springfield’s eFactory.

The program started Monday and runs until Oct. 21.

“This week is (about) settling in, and businesses are learning how to communicate,” said Brian Kincaid, director of the eFactory, the tech-focused entrepreneurship center that’s running the accelerator program.

Brian Kincaid, eFactory | Courtesy of John Wall/Missouri State University
Brian Kincaid | Courtesy of John Wall/Missouri State University

Each week, the accelerator’s four startups will tackle a new topic. Over the course of 12 weeks, the program will offer a broad range of skills training, covering subjects like networking, marketing, fundraising, growing revenue, improving HR and more. All the training is facilitated by the eFactory’s network of expert mentors.

In addition to gaining access to those mentors and to office space in the eFactory, participating startups also receive $30,000 in exchange for 8 percent equity.

The four companies of the accelerator’s first cohort are:

  • The Daily Scholar (Springfield) – Cloud-based publication software for education and business
  • Eagle Speak (Springfield) – Communication application for businesses and teams
  • MOFIN Labs (Springfield) – Software tailored to the needs of financial institutions
  • ShopZeely (Wylie, Texas) – Shopping tool that lets remote users browse stores using a video feed

The selection committee could have picked up to five companies, Kincaid said, but the committee felt strongly about the four it chose.

Companies applied through an online process open to companies from across the country and around the world.

“Companies accepted into the program will be expected to have representation at the eFactory for the duration of the program and a presence in the state of Missouri for a year,” Kincaid said.

Once the program is over, the eFactory will assist the companies with additional resources, Kincaid said.

He said the accelerator program is important to Springfield because it will help create new opportunities in the city, attract young businesses to the region and foster an entrepreneurial culture.

Our community is one of collaboration, and we do collaboration well,” Kincaid said. “Because of this, entrepreneurs in Springfield have superior access to resources and mentors. Additionally, strong institutions of education provide a workforce and talent base that is attractive to growth companies.”

Check it out

  • What: eFactory accelerator open house
  • When: Wednesday, Aug. 10, 5 p.m.
  • Where: The eFactory (405 N. Jefferson Ave., Springfield)
  • More info: Facebook

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