Advance Northeast Ohio Partners Receive $3.2 Million Grant
Posted by Advance Northeast Ohio - 11.28.2011
Four Advance Northeast Ohio partners will benefit from a $3.2 million grant designed to train our region's next generation of entrepreneurs, potentially creating 150 businesses over the next five years and generating over 3,000 direct jobs.
Baldwin-Wallace College, Case Western Reserve University, Kent State University and Lorain County Community College will share the award as part of a three-year partnership that will expand Blackstone LaunchPad, an initiative that gives university students and alumni the skills, knowledge and guidance to start new companies.
Funding for this program is made possible through The Blackstone Charitable Foundation and The Burton D. Morgan Foundation. It replicates a program developed at the University of Miami in 2008, which has generated 65 start-up ventures, 120 new jobs, and drawn nearly 2,000 student participants.
"Northeast Ohio has made great progress reinventing itself by returning to its entrepreneurial roots. Blackstone LaunchPad will fill a gap by linking fledgling entrepreneurs to practical tools and experienced mentors to champion novel business ideas through venture formation and ultimately to the marketplace," said Deborah D. Hoover, President & CEO of The Burton D. Morgan Foundation. "We are investing in Blackstone LaunchPad to help demystify entrepreneurship as a career path, spur start-ups for Northeast Ohio, and build a vibrant regional economy where young people want to work and live."
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