The University of Missouri-St. Louis’ Entrepreneurship and Innovation Center’s (EIC) Anchor Accelerator program has funded more than 20 companies since its launch in 2020. That’s a figure UMSL EIC Executive Director Scott Morris says is a point of pride for the Anchor Accelerator, which supports businesses led by entrepreneurs from underrepresented groups.
But there’s another number Morris referenced in an interview: 1,100. That’s how many applicants the Anchor Accelerator has had since its launch. Now Morris, who stepped into his role with UMSL EIC in September 2023, wants to make the Anchor Accelerator accessible to all its former applicants. UMSL EIC plans to do that by providing the education and networking it provides to its Anchor Accelerator companies through a new five course, noncredit entrepreneurship certificate program that will be available to the public.
“I call it the democratization of the Anchor Accelerator,” Morris said. “The goal is to make, ultimately, everything but the funding available to anybody that wants it.”
The Anchor Accelerator, which launched as the Diversity, Equity and Inclusion Accelerator, has provided $50,000 grants, as well as business development programming, to the companies selected for the accelerator. The goal of the entrepreneurship certificate program is to make the educational programming available to a wider range of entrepreneurs and “intrapreneurs” who work at larger firms, seeking to increase the impact of the Anchor Accelerator, Morris said. The educational programming focuses on helping business owners scale their companies and includes courses on strategy and opportunity, commercial execution, operational execution, financial planning and ownership objectives. Business pitching also will be part of all the courses, according to UMSL EIC.
Morris said the focus on business scaling is intentional, adding he believes St. Louis’ startup community has adequate programming around business ideation and creation but that there “seems to be gaps” in helping entrepreneurs grow their companies.
UMSL EIC said individuals can sign up for the entire entrepreneurship certificate program or for its individual courses. It said it expects the cost to attend the courses to be under $300, with participants receiving a textbook and business planning software as part of the cost. Courses are expected to take seven hours to complete and are planned to be held on weeknights and weekends.
Morris said UMSL EIC plans to continue operating its Anchor Accelerator as it has in the past, though with some changes. It has awarded $50,000 grants to each company selected, but it will now award its grants in allotments of $50,000, $25,000 and $10,000, with companies receiving specific funding amounts based on their individual needs. It also will tie its new certificate programming into the Anchor Accelerator selection process. Companies that complete all five courses of the program will be invited to the accelerator’s pitch day event. The accelerator will also stage an application process as it has in the past.
Financial backers of UMSL EIC include Edward Jones, Ewing Marion Kauffman Foundation, Missouri Technology Corp. and private donors, according to the organization. UMSL EIC plans to complete a $3 million renovation of its facilities, at 35 Performance Drive on the UMSL's North Campus.
