The Burton D. Morgan Foundation in Hudson, Ohio, has awarded grants totaling $1.5 million to local nonprofit organizations, including $1 million to JumpStart Inc. to expand a mentoring program, the Akron Beacon Journal reports.
According to the Beacon Journal, the grant will enable JumpStart to provide fifteen hundred early-stage entrepreneurs with mentoring opportunities and other related services over the next three years. In recognition of the grant, the mentoring program will be named after Burton Morgan, founder of Morgan Adhesives (now MACtac), who established the foundation in 1967 to strengthen the free enterprise system by investing in organizations and institutions that foster the entrepreneurial spirit.
The foundation also awarded grants to programs that aim to help students and adults develop skills and gain experience in starting business ventures. They include $150,000 to the Fund for Our Economic Future in support of its regional economic development and entrepreneurship support programs; $85,000 to the Entrepreneurship Education Consortium for its 2013 Entrepreneurship Immersion Week; and $50,000 to the Northeast Ohio Council on Higher Education in support of its summer 2013 Entrepreneurial Internship Program.