Startup City

Columbia is the place where ideas grow.

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BY KATHY CASTEEL

Have a great idea for the perfect business opportunity? You’ve moved to the right place! Innovators thrive here in an economic garden that nurtures new ways of thinking. The city’s standing among startup hotspots soared in 2016 when Entrepreneur magazine put Columbia in the top 20 on its list of Best Cities for Entrepreneurs. But the folks here didn’t need a national magazine to tell them what they already knew: Columbia’s startup scene is a connected community where you’ll find the resources you need to get your idea up and running.

FIRST STOP

Several local organizations offer services for entrepreneurs. Get a lay of the land and check out the offerings of these groups.

REDI Regional Economic Development Inc. is a nonprofit, public/ private partnership working to attract and cultivate businesses in Columbia and Boone County. Serving as the economic development arm of the city, REDI acts as a local point of contact for companies requesting information about the area and offers information and support to existing local businesses and entrepreneurs. The downtown offices include meeting rooms, a training center and a business incubator.

500 E. Walnut St., Suite 102; 573-442-8303; ColumbiaREDI.com

Small Business Development Center Get your business off to a good start with the help of the Columbia SBDC pros. The agency provides personalized coaching, counseling and training for business owners and entrepreneurs, both online and on site. Tap into SBDC’s expertise to get up to speed on everything from determining who and where your customers are to learning how to reach those customers and developing a business plan. Your first step is a consultation with an SBDC virtual consultant, which you can schedule online.

416 S. Sixth St. (MU Engineering Building North, Room 200); 573-882-1555; SBDC.missouri.edu

Missouri Women’s Business Center The Women’s Business Center — serving Audrain, Boone, Callaway, Cole, Cooper, Howard, Moniteau and Osage counties — provides resources, support and networks for women seeking to start or grow their own businesses. Services include classes, workshops, networking opportunities and individualized business counseling.

500 E. Walnut St., Suite 103; 573-818-2980; MoWBC.org

Entrepreneurship Bootcamp for Veterans with Disabilities The EBV program is a national initiative that offers training in entrepreneurship and small business management to post-9/11 veterans with service-connected disabilities. The program at the University of Missouri includes a 30-day online course in business skills and a nine-day residency at MU for an intense exposure to entrepreneurship and access to accomplished entrepreneurs from across the country. An additional 12 months of support and mentorship follow.

1211 MU Student Center; 573-882-2073; ebv@missouri.edu

NETWORKING

1 Million Cups Who knows how many cups of coffee Columbians have downed in search of the Next Great idea? But they’re always back for more every Wednesday morning. Each week, one or two early-stage startups present their companies to a diverse audience of their peers, mentors, educators and advisers.

9 a.m. Wednesdays, REDI Innovation Hub; 500 E. Walnut St., Suite 105; 1MillionCups.com/como

ACA Business Club Want to connect with local professionals, executives and business owners? Join the ACA Business Club for coffee, and build quality relationships in a relaxed environment. There is no cost for coffee, but consider investing in club membership for added resources. Business development teams offer more structured engagement.

8:30 a.m. Fridays; 204 Peach Way, Suite A; Lili@VisionworksGroup.com; ACANetwork.org

Startup Weekend Every fall, Startup Weekend convenes, attracting developers, designers, marketers and other business minds to hear ideas and develop viable companies. Whether you’re there to pitch an idea, collaborate, network or teambuild, it’s one of Columbia’s premier entrepreneurial events.

ColumbiaStartupWeekend.com

INCUBATORS

Columbia’s three business incubators provide entrepreneurs room to nurture their ideas, giving them time to blossom.

Innovation Hub REDI’s Innovation Hub offers a downtown space with full amenities the members can access 24/7 for work and client meetings. Members receive business counseling, special events, mentorship, peer networks, community connections and business promotion

500 E. Walnut St., Suite 105; 573-442-8303; ColumbiaREDI.com/ programs/grow/

MU Life Science Business Incubator Set on the edge of the University of Missouri campus, the MU Life Science Business Incubator operates as a university department, giving resident companies access to a cross-section of university expertise. Missouri Innovation Center runs the facility’s 33,000-squarefoot space housing offices, meeting rooms, wet lab and dry lab facilities, biomedical research facilities and engineering suites.

1601 S. Providence Road; 573-884-0496; MissouriInnovation.com/life-sciencelabspace

Mid-MO Tech Incubator Sharing the same building with its life science sibling, this incubator provides investment capital, coaching and space for startups developing mobile applications, software and internet services. Incubator residents focus on technology solutions in health care, precision agriculture, media, education, financial services and online marketplaces.

1601 S. Providence Road; 573-884 0496; MissouriInnovation.com/mid-mo-techaccel

MONEY MATTERS

Check into these sources for financing your business plans.

Enterprise Development Corporation The EDC works with the Small Business Administration and local banks to help business owners navigate the SBA 504 Loan Program. Borrowers may use the long-term, fixed-rate loans to acquire fixed assets or to build or renovate facilities.

910 E. Broadway, Suite 201; 573-875-8117; EntDevCorp.org

Centennial Investors This angel investor network provides funding to startups in the mid-Missouri area. The membership consists of accredited investors looking for a longterm return on their portfolios while supporting early-stage capital needs of promising ventures. Startups present their business plans to the group for a shot at funding; if declined, they receive constructive feedback.

1601 S. Providence Road; 573-884-0496; CentennialInvestors.com

MIC Accelerator Fund The Missouri Innovation Center’s Accelerator Fund invests in startups with a well-defined plan for a technology-based, market-changing product or service in Missouri. Recipients can receive up to $50,000 to create and/or launch their product or service.

1601 S. Providence Road; 573-884-0496; MissouriInnovation.com/acceleratorfund

Allen Angel Capital Education Program Backed by the ACE Allen Fund, this group of mid-Missouri student investors finances high-growth startup companies. They cultivate deal flow and perform prescreening and due diligence before offering structured investment contracts. It’s a win-win: Students learn about angel investing, and entrepreneurs get an opportunity to fund their business ideas.

AllenACEfund.org

GOOD TO KNOW

Columbia Chamber of Commerce

300 S. Providence Road; 573-874-1132; ColumbiaMoChamber.com

Better Business Bureau

3610 Buttonwood Drive, Suite 200; 573-886-8965; mgleba@columbiabbb.org

City of Columbia Business Licenses

701 E. Broadway, 5th floor; 573-874-7549 or 573-874-7378;

CoMo.gov/finance/business-licenses l