The University of Missouri-Kansas City has been selected by the U.S. Small Business Administration to receive one of eight national ScaleUp America contracts.
The ScaleUp America program’s $300,000 award to UMKC is for one year, with the possibility of being extended for four more years. The program gives direct support to growing small businesses in order to strengthen an entrepreneurial ecosystem and create measurable job growth.
“Typically, business owners have a tough time moving beyond the $150,000 to $500,000 mark in sales,” said Maria Meyers, director of the UMKC Innovation Center and founder of KCSourceLink, in a release. “We know how to help these growth-oriented enterprises get over the hump, and this funding will enable us to expand our reach.”
The ScaleUp America award to UMKC will enable several Kansas City area small businesses to plan and navigate the trajectories for their growth, said Patricia Brown-Dixon, administrator of region VII of the U.S. Small Business Administration.
““This will not only benefit those companies, but our community as they grow,” Brown-Dixon said. “And it is in line with the metropolitan area’s goal of being No. 1 in entrepreneurism.”
The eight ScaleUp contract recipients were picked from more than 60 applicants in both urban and rural locations and representing a wide range of organizations.
SBA Administrator Maria Contreras-Sweet said: “Ninety-two percent of new jobs come from the expansion of existing businesses. We are bringing our successful entrepreneurship education programs to underserved communities, bridging the gaps for those in greatest need across the country. This intensive SBA support will create jobs and support a diverse cross-section of communities across our great nation.”
The other 2014 ScaleUp communities are:
- StartUp Tucson—community of focus: Tucson, Ariz.
- University of North Florida—community of focus: Jacksonville Metropolitan Statistical Area (MSA), Fla.
- Women’s Business Development Center—community of focus: Aurora, Ill.
- Your Management Team, Inc.—community of focus: central Ohio
- Supply Chain Visions LLC—community of focus: Roanoke, Va.
- Supply Chain Visions LLC—community of focus: Greater Portland, Maine
- Advantage West Economic Development Group—community of focus: western North Carolina