Marquette Tech District Foundation awarded $750,000 grant

The Marquette Tech District Foundation (MTDF) has been awarded $750,000 in federal grant funding from the Economic Development Administration (EDA).

The award was announced on business-startup incubator Codefi’s website earlier this week.

MTDF was selected out of 140 applications to EDA’s Regional Innovation Strategies i6 Challenge program, the statement said.

The award is part of $23 million in grants awarded nationwide, geared to developing entrepreneurship, according to the statement.

Funds will be used to grow the model of Cape Girardeau’s tech district into the Rural Delta Tech Innovation Network, in turn, supporting rural communities, the statement said.

The organization has raised $596,000 in matching funds with an additional $887,600 in-kind contribution for a total of $2.2 million to support the initiative over the next three years, according to the statement.

“It’s validation of the work we’ve been doing and the vision we have for the rural Delta,” according to an online statement from Chris Carnell, co-founder of Codefi and director of the Marquette Tech District Foundation.

The Marquette Tech District Foundation is a not-for-profit corporation dedicated to improving the quality of life for residents by accelerating economic development through technology and high-growth companies, the statement said.

Since 2016, the Marquette Tech District Foundation has helped support the launch and growth of more than 50 startups in Southeast Missouri, creating more than 150 jobs, according to Codefi.