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Topeka startup hub launches diverse entrepreneur community (with fintech help on loan from KC’s Cyphr)
TOPEKA — An initiative aimed at boosting early to mid-stage entrepreneur development in the heart of Kansas launched Friday, said Michael Odupitan, noting the effort by Topeka-based Omni Circle to redefine the startup journey — and who’s allowed to join it — comes with a Kansas City assist.
Michael Odupitan, Omni Circle, speaks during a Topeka Startup Community launch event at Omni Circle in Topeka; photo courtesy of Omni Circle
“Omni’s goal is to unite and strengthen communities through equitable opportunities. With the Topeka Startup Community, we do that by connecting entrepreneurs with the people and tools they need to thrive,” said Odupitan, founder and CEO of Omni Circle, unveiling plans to develop a capital access center with Kansas City-based Cyphr at its capital city workspace and entrepreneur training center, as part of the newly announced endeavor.
“When Omni and Cyphr got to talking, it was clear our missions aligned,” he added.
The Topeka Startup Community is designed to bridge a gap in the region’s business ecosystem, Odupitan explained, sharing that budding business owners must start smart and grow sustainably — no matter their background.
“With the Topeka Startup Community, Omni hopes to challenge common misconceptions about what it means to be a startup, while bringing entrepreneurs together to connect, learn and grow,” he said. “We’re seeing an increasing number of entrepreneurs and resource partners in the area get involved, and they’re eager to help us flip the script on what it means to be a business owner in Kansas. I’m confident this community is going to be the path to success for so many.”
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Topeka Startup Community’s other resource partners include K-State 105, Network Kansas, AltCap, GO Topeka, the Kansas Department of Commerce, Kansas Health Foundation, and Washburn Small Business Development Center.
Cyphr is a gamechanger in the fintech space, Odupitan said, making sure entrepreneurs from all backgrounds have access to the capital they need. The startup’s loan readiness assessment tool, LoanReady, will be used by the community to enhance financial literacy and prepare current or future applicants for successful loan applications.
“We knew we could work together to make an even bigger impact,” he said. “Our collaboration will help entrepreneurs in the Topeka Startup Community gain a better understanding of their ability to access capital and improve their financial picture. We’re walking in lockstep for the success of diverse startups across the region.”
Click here to learn more about Cyphr, which uses its technology to foster financial inclusion and ensure everyone has access to the capital they need to thrive.
Jannae Gammage, co-founder of Cyphr, speaks during a Topeka Startup Community launch event at Omni Circle in Topeka; photo courtesy of Omni Circle
“In Topeka, small business loan acceptance rates hover around a measly 20 percent,” said Jannae Gammage, co-founder of Cyphr, who joined Omni Circle Friday for a launch event in Topeka alongside economic development leaders. “Those acceptance rates do not match the caliber of businesses operating in that ecosystem — so, to me, that spells out a knowledge issue, not a readiness issue.”
“LoanReady is set up to fundamentally address this exact thing,” she told Startland News. “Because of Michael’s hard work with Omni Circle, there is a phenomenal foundation for LoanReady to power this process and directly improve these statistics at the grassroots level in a new way — physical locations dedicated to capital access.”
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Gammage connected with Omni Circle through the startup’s work with Taylor Overton, director of small business and entrepreneurship at the Kansas Department of Commerce, which is rolling out LoanReady in the State of Kansas.
“We were introduced to Michael and saw first-hand his ability and passion to execute on a big vision,” said Gammage, who also serves as one of KCSourceLink’s new Community Navigators. “The partnership was really a no-brainer. We’re just happy to have a presence in what is a much needed space and we look forward to helping rebuild and redefine what access to capital looks like for small businesses operating in the area — physical locations.”
Omni’s Topeka Startup Community was one of 11 projects across the state selected for the K-State 105 Entrepreneurial Blueprint Initiative, which is supporting entrepreneurship and small business development across Kansas through a partnership with K-State and Network Kansas.
K-State 105 is Kansas State University’s economic growth and advancement initiative for all 105 counties in Kansas. Network Kansas empowers and drives entrepreneurship across the state by fostering collaboration and investment in startups.
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This story is made possible by eGrowth Ventures.
eGrowth Ventures (EGV) is a business unit of NetWork Kansas supporting innovative, high-growth entrepreneurs in the State of Kansas. NetWork Kansas promotes an entrepreneurial environment by connecting entrepreneurs and small business owners with the expertise, education and economic resources they need to succeed.
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