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CARES Act Coworking and Incubator Grant Program Guidelines

Application Link

Supplemental Materials

Purpose

The purpose of the Coworking and Incubator Grant Program (the "Program") administered by the Missouri Technology Corporation (the "MTC") is to provide grants to reimburse qualifying costs incurred by Missouri’s coworking and incubator facilities in response to the COVID-19 public health emergency in order to ensure that they can safely continue offering their important services to the State’s entrepreneurs and emerging companies. The State of Missouri will make available $1 million in grant funds provided under the CARES Act for eligible Missouri-based non-profit corporation- and University-sponsored coworking and incubator facilities.

Due to COVID-19 related closures, many of the State’s non-profit corporation- or University-sponsored coworking and incubator facilities do not have access to the capital required to update physical spaces in accordance with current public health guidelines. The grants made pursuant to this Program are restricted to reimbursing for costs directly associated with updates to comply with applicable public health emergency guidelines, including updating the facilities to adhere to social distancing guidelines, the adoption of enhanced sanitation protocols, and acquiring necessary personal protective equity ("PPE") to protect employees, tenants, and visitors.

Timeline

MTC will accept applications between July 22 and August 17, 2020. All applications will be reviewed at the same time.

  • July 22, 2020, | Announcement of Program, Guidelines, and Application made available

  • July 22 – August 17, 2020, | Applications submission period

  • August 18 – September 18, 2020, | Applications review period

  • September 21 – October 2, 2020 | Award announcement(s)

  • November 15, 2020, | Date by which all expenditure and reimbursement documentation must be submitted to DED

  • December 30, 2020, | All funds must be expended by MTC

Grant Program Parameters

  1. The Program is available statewide for eligible applicants.

  2. The total grant funding equals $1 million.

  3. Individual grant amounts are limited initially to $50,000 (though applicants may request more than $50,000), but MTC reserves the right to make grants in excess of such amount depending on the availability of funding, the aggregate amount of grant funding requested, and other economic considerations.

  4. The number of grants that will be made per applicant is limited to one (1) and applicants receiving a grant under the Program will be required to disclose all other financial support that the applicant received under the CARES Act from other sources.

  5. An applicant must incur/have incurred costs between March 1, 2020, and November 15, 2020, due to COVID-19-related facility improvements and/or PPE.

  6. Applications will be evaluated on (a) the proposed use of requested funds, (b) the anticipated economic development impact, (c) the financial impact of the public health emergency on the applicant, (d) the ability to appropriately expend the funds in a timely manner.

Eligibility

Applicants must satisfy the following requirements:

  1. Structured as a non-profit organization as defined under Section 501(c) of the Internal Revenue Code or be a University-Associated Organization; [1]

  2. Operate a physical space that is dedicated to driving the economic development of the area/region, including (but not limited to):

    1. Coworking Facility – a facility in which workers from different companies share an office space, allowing cost savings and convenience through the use of common infrastructure (the applicants may operate both a coworking facility and a limited number of individual offices for lease);

    2. Incubator – an organization that assists in the development of startup companies by providing services such as management training or office space; and

    3. Event Space – organizations that operate a large space available for use by the public with the goal of driving economic development within the region, including hosting local in-person meetings for economic development-focused organizations as well as workforce training or other economic development focused educational programming.

  3. Be physically located in Missouri;

  4. Be registered to do business in Missouri and in Good Standing with the Secretary of State;

  5. Have commenced operations and operated continuously since at least March 1, 2019;

  6. Must complete and submit Form 943 to obtain a tax clearance certificate (valid for 90 days) from the Missouri Department of Revenue for the business [2] and each owner, as applicable;

  7. Must not have filed or announced an intention to file for bankruptcy, receivership or assignment for the benefit of creditors; and

  8. Mot employ undocumented workers.

 

[1] A University-Associated Organization (“UAO”) is one that exists and operates for the benefit of the University or one or more of its units by providing one or more of the following support functions: fundraising, asset management, programs and services. While a UAO can receive funding from the University it’s associated with, it should be run as a separate entity that supports the University’s mission of supporting economic development
[2] Form 943 is at http://dor.mo.gov/forms/943.pdf.

Additional Requirements

  1. Applicants must have an actual, conditional, or anticipated third-party cost-sharing commitment to match the requested grant funding. Consideration will be given to meeting the cost-sharing requirement through the contribution of in-kind cost-support.

  2. Applicants will be required to submit an IRS 501(c)(3) designation letter or a letter of support from a Missouri-based University attesting to their association and alignment with the University’s mission as well as Articles of Incorporation or similar governance documents.

  3. Upon approval of an application and execution of a grant agreement, grant awardees shall provide all necessary ACH authorizations to MTC.

  4. Grant awardees will be required to submit documentation to MTC certifying the actual use of grant funds and outcomes achieved.

Contact Information


Application & Technical Issues
Tori Benson
tori.benson@missouritechnology.com

Eligibility Questions
Jack Scatizzi
jack.scatizzi@missouritechnology.com

Application Tips

1. In order to apply, you will need to have a Google account. Anyone with a Gmail email address has a Google account. However, you do not need a Gmail email address to have a Google account. If you do not have a Google account you can create one with your existing non-Gmail email address.  

2. To simplify the application process, download the sample application under supplemental materials, then copy and paste responses into the Google form.

3. We recommend you use a browser other than Internet Explorer.
For more information on other DED sponsored CARES Act Grant Programs please visit the Show Me Strong Recovery Plan website.