Since it launched in 2013, the efactory has been a leader in innovation. This technology-focused entrepreneurship center serves as a resource hub to assist startups and small businesses and offers continuing education and training to established ventures. It has helped foster Springfield’s tech and business community. From the start, its business incubator program was key and has assisted more than 50 companies who have received free business consulting, office space and access to a mentor network, among other resources.
The success of incubators has translated into more jobs and has advanced Springfield as a state leader in the innovation space, says efactory Director Rachel Anderson. Another program that has been a tremendous asset to the community is the accelerator program. It assists early stage companies through mentorship, programming and a $30,000 investment over the course of a rigorous 12-week program. Since its inception in 2016, 12 companies have completed the accelerator program.