The Burton D. Morgan Foundation in Hudson, Ohio, has announced grants totaling nearly $1.5 million in support of efforts to strengthen the entrepreneurial ecosystem in Northeast Ohio.
The grants will support nonprofits working to provide entrepreneurship education and support for youth, college students, and adults in the region. Recipients include Bounce Innovation Hub in Akron, which was awarded $252,500 in support of strategic planning, its incubator program and software accelerator, the Northeast Ohio Student Venture program, and various GROW programs, which are designed to support non-tech entrepreneurs; and MORTAR Cincinnati, which will receive $40,000 to partner with Bounce on GROW programming for minority and female business owners.
The foundation also awarded a $100,000 grant to the Akron Regional Development Board Educational Fund in support of Choose Growth 330, an initiative aimed at raising awareness of the impact of growth-oriented companies in the region and the resources that exist to support them. Other recipients include the Downtown Akron Partnership, the Well Community Development Corporation, the Entrepreneurship Education Consortium, the Korda Institute for Teaching, and Venture for America.
"Morgan Foundation's grants this cycle reflect our current strategic focus on Akron's evolving ecosystem and its service of both startups and scaleups," said Burton D. Morgan Foundation president and CEO Deborah Hoover. "The significant grant to Bounce Innovation Hub builds on the excitement of activities occurring in the new generator space and the introduction of GROW programs designed for non-tech entrepreneurs. Our support of Choose Growth 330 celebrates the impact of growth-oriented companies on Greater Akron by capturing expansion stories that are designed to inspire others to see Akron as a place for ventures to thrive. We are grateful to have resources from the available to support components of these two grants. Morgan Foundation is committed to its role as ecosystem builder and champion of Akron's courageous entrepreneurs."
(Photo credit: Burton D. Morgan Foundation)