Blackstone Charitable Foundation $2 million grant funds UM Launch Pad as a national model

The Blackstone Charitable Foundation announced on April 30 in Detroit a multiyear commitment to fostering entrepreneurship in communities hardest hit by the global economic crisis. In collaboration with the New Economy Initiative for Southeast Michigan (NEI), the foundation announced that Wayne State University, Walsh College, and the University of Miami have been selected as partners for its first significant grant of $2 million.

The grant will allow the creation of Blackstone LaunchPad operations at the two colleges, based on the successful University of Miami's Launch Pad, an entrepreneur and innovator resource center, to serve as a national model for fostering entrepreneurship through higher education. The Launch Pad is the first one in the country to be housed in a university career center, treating entrepreneurship as a viable career choice. It is part of the Toppel Career Planning and Placement Center and strives to provide students and alumni with the guidance and resources they need to transform innovative ideas into sustainable enterprises.
Since its inception in 2008, The Launch Pad has helped launch 45 new businesses and create 102 new jobs, contributing to the economic recovery of South Florida and demonstrating that positive economic impact results from investing in entrepreneurship.