The Burton D. Morgan Foundation in Hudson, Ohio, has announced grants totaling nearly $3.5 million in support of the entrepreneurial ecosystem in Northeast Ohio.
More than $1.6 million in grants was awarded for initiatives encouraging entrepreneurship among adults in the region, including $1 million over the next three years to business accelerator JumpStart in support of the Burton D. Morgan Mentoring Program. Now in its sixth year, the program matches entrepreneurs with experienced volunteer mentors who provide support, guidance, and expertise to help catalyze their success. The foundation also awarded $500,000 over three years to the Fund for Our Economic Future, a regional collaborative dedicated to advancing economic growth and equitable access to opportunity through research, civic engagement, and grantmaking.
Grants designed to foster entrepreneurship among college students and youth include $300,000 over two years to the Kent State University Foundation in support of NEOLaunchNET, a multi-campus initiative that provides students with coaching, mentoring, and special programming in venture development, and $20,000 to the Girl Scouts of North East Ohio in support of its Teen CEO: Be Your Own Boss program.
"Burt Morgan's ventures benefited from the mentorship he enjoyed as a fledgling entrepreneur, and throughout his career he generously paid it forward serving as mentor to dozens of startups as they navigated the challenges of the journey,” said Deborah Hoover, the foundation's president and CEO. “We believe that the Burton D. Morgan Mentoring Program honors our founder's legacy by recruiting mentors who know the right questions to ask and then matching them with ventures that can benefit from their hard-earned wisdom."