Entrepreneurs given a financial boost in Montana
July 24, 2013
Particularly during the first few years of business, many entrepreneurs struggle to stay afloat before they can turn a profit. Numerous startup owners end up having to close their doors as a result of not having enough money, resources and information available to them.
Hopefully, that will no longer be the case for some Montana-based small business owners. The Blackstone Charitable Foundation recently revealed that it is giving a $2 million grant to enable a deeper connection between Montana State University, the University of Montana and Headwaters RC&D to expand an entrepreneurial project.
The Blackstone LaunchPad will now have a base in Montana, it's fifth after Florida, Pennsylvania, Ohio and Michigan headquarters. The money will be given over three years and will allow owners to draw up proposals, connect with their peers, tap into additional resources and leverage other tools.
Blackstone has long been involved in efforts that benefit startup leaders. For instance, it is currently pursuing a five-year, $50 million commitment to the Blackstone Entrepreneurship Initiative. Not only has this created LaunchPad, but it enables the foundation to give various grants to small businesses, cultivate a network of owners and help enterprises grow.
Organizations that are providing funds for multiple nonprofit programs might find it easier to manage their large-scale efforts with fundraising management programs that can account for funds as they are disbursed to recipients.