CWRU Receives Pledge to Support Students, New Businesses

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CWRU Receives Pledge to Support Students, New Businesses

CWRU Observer – On Friday, Nov. 18, at a special event in Kelvin Smith Library, the Blackstone Charitable Foundation and the Burton D. Morgan Foundation announced a $3.2 million pledge to four higher-learning institutions in Northeast Ohio to initiate an entrepreneurial training program designed to give students the support needed to launch new businesses.

The four schools — Case Western Reserve University, Baldwin-Wallace College, Kent State University, and Lorain County Community College — will be the newest sites of the program, called Blackstone LaunchPad, after recent success at schools in Detroit. The program is slated to begin in early 2012.

Announced by a cadre of supporters, including Senator Sherrod Brown and University Provost Bud Baeslack, LaunchPad is based on a program from the University of Miami that created 65 new ventures and a total of 120 jobs. Mark Slaughter, a participant in the Miami program, is launching his business, Collaborative Biosciences, with “several hundred thousand dollars in seed funding,” he said at the announcement.

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