Support from MTC Equips Joseph Newman Innovation Center to Serve Joplin Entrepreneurs & Job Creators

Supporting Entrepreneurship in Joplin, Missouri

In the heart of downtown Joplin, Missouri you’ll find the Joseph Newman Innovation Center. The facility, owned and operated by the Joplin Area Chamber of Commerce, offers entrepreneurial support to more than 20 tenants in the building’s incubator.

The center works closely with other community stakeholders to create and grow an entrepreneurial ecosystem. This work includes growing a strong peer-to-peer mentor network, launching community education for entrepreneurship and innovation, and promoting talent attraction and retention in the Joplin region.

Made Possible by the Missouri Technology Corporation

The Missouri Technology Corporation (MTC) provides an annual allocation to the Joseph Newman Innovation Center. This allocation allows the center to operate and sustain programming that helps entrepreneurs start and grow companies in the region.

The center also recently received its first ever Missouri Building Entrepreneurial Capacity (MOBEC) grant from MTC. This grant funding will equip the center to boost and diversify their entrepreneurial ecosystem, provide additional education to entrepreneurs, and create more opportunities for innovators in their local economy.

Without annual allocations and MOBEC funds, many of the center’s programs would be in jeopardy. By ensuring that MTC has a strong base from which to fund centers like the Joseph Newman Innovation Center, we can ensure that our state attracts and retains job creators.

Investing in Entrepreneurship & Innovation

Research has found that 80% of all new jobs in Missouri are created by startups and small businesses. Supporting these entrepreneurs and the centers that serve them is a critical component of an effective economic development strategy. It wouldn’t be possible without the Missouri Technology Corporation.

All MTC funds are ‘co-investment’ funds. This means that for every dollar invested by the state, innovation centers must secure one dollar of investment to match MTC's investment. This strategy allows the state’s investment dollars to go twice as far in terms of increasing entrepreneurial capacity and providing the much needed resources for job creation.