Foundations Commit Funding for Entrepreneurial Development Programs at Nonprofits, Universities

Foundations increasingly are tapping into the unique skills of institutions of higher education by partnering with them to support entrepreneurial growth within their surrounding communities. These foundations view institutions of higher education as the ideal partners to provide education and business services necessary for entrepreneurs to reach their potential. Several foundations recently have announced funding to support entrepreneurship development activities at universities including the Ratcliffe Foundation and the Allstate Foundation. The Blackstone Charitable Foundation also announced that it is accepting applications from institutions of higher education and nonprofit organizations to pilot, expand or replicate entrepreneurship initiatives.

Through a grant from the Philip E. and Carole R. Ratcliffe Foundation, Salisbury University will award grants and loan guarantees to entrepreneurs in Maryland and other mid-Atlantic states. The Ratcliffe Foundation will commit $1 million over the next five years ($200,000 annually). Grant recipients also will receive mentoring and access to other resources. To be eligible, the entrepreneurs must hold an associate’s degree or higher and must establish operations in Maryland, Delaware, New York, New Jersey, Virginia or the District of Columbia. Read the press release…

The Allstate Foundation will commit $75,000 to help support initiatives for minority and women entrepreneurs at the University at Buffalo School of Management’s Center for Entrepreneurial Leadership (CEL). Since 2005, the Allstate Foundation has helped fund the Allstate Minority and Women Emerging Entrepreneurs program (MWEE), a joint venture by the CEL and the UB Center for Urban Studies. During 2013-2014, the MWEE program will host a pilot initiative that will transfer MWEE’s best practices to support entrepreneurship in one of Buffalo‘s economically challenged communities.  Read the press release…

The Blackstone Chartiable Foundation announced that it will commit up to $1 million to support entrepreneurial development programs at institutions of higher education and nonprofit organizations. Grants are intended to pilot, expand or replicate an initiative in one of two programmatic areas — promoting entrepreneurship through education and advancing high-growth entrepreneurs. One award of up to $250,000 will be made in each area. Applications are due October 4. This program was launched in coordination with the foundation's $50 million, five-year Entrepreneurship Initiative. Read the request for proposals…

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