$1 million of pandemic relief funds to be used on startups in Missouri

The state of Missouri will use a portion of the funds on a grant program created to financially assist co-working facilities and incubators through added COVID-19 costs.

On Wednesday Missouri Gov. Mike Parson announced that the state will use $1 million of its allotted COVID-19 relief funds on a new grant program for startups in Missouri.

The grant program will financially assist co-working and incubator facilities with new costs of operating under COVID-19 as new guidelines are being implemented for businesses and other operations.

Grant funding will be awarded to Missouri-based nonprofit and university-sponsored co-working and incubator spaces.

Missouri Technology Corp. (MTC) will manage the grant program using CARES Act funding.

“Supporting Missouri’s entrepreneurs and startup companies is key to our economy,” Parson said in a statement Wednesday. “These individuals are not only developing innovative products but also businesses that will create new jobs and opportunities for the people of our state.”