Missouri-made Startup Receives Local Funding Support
1ST50K, Cape Girardeau’s competition for early-stage startup businesses that provides a $50,000, equity-free grant and pro bono support services to innovative entrepreneurs, last week announced that it has selected the next 1ST50K Startup Competition recipient.
After evaluating over 150 applications from 20 countries and 27 states, the competition selected St. Louis-based startup Impress Software as its next funding recipient. Impress Software offers companies an automated toolset to match internal and external talent and skills to projects and positions, tackling the increasingly complex problem that individuals and companies face in assessing and matching talent and skills when recruiting employees, freelancers, and consultants.
The competition committee is still in conversation with four additional finalists and anticipates the announcement of additional awards or investment in the near future.
The unique 1ST50K startup competition was modeled after and is endorsed by Arch Grants, a nationally-recognized program in St. Louis that offers cash investment in a company without asking the entrepreneurs to give up ownership. The competition is managed by Codefi, Cape Girardeau’s coworking space and technology incubator, in partnership with local venture fund Traverse Ventures, the Cape Girardeau Area Chamber of Commerce, the Bank of Missouri, and the Missouri Technology Corporation.
Applications are currently being accepted for the next round of competition and judging. To learn more, please visit www.1st50k.org.
(Article reposted from Missouri Technology Corporation)