The Blackstone Charitable Foundation has announced its first cohort of eight organizations in the Chicago-area entrepreneurship challenge. Named the BX Challenge, up to $3 million in grant funding will be provided over three years to innovative organizations that effectively recruit and support diverse entrepreneurs and scale startups in the Chicago area. The selected programs will serve underserved populations, including communities of color, women, veterans, and immigrants. The inaugural cohort includes SSTI member UI Labs, which was awarded $100,000 to create a partnership between City Digital and Colony 5 to help community based start-ups tackle urban challenges and explore ideas on smart city developments through entrepreneurship. Other inaugural cohort awardees include: