News Column

Launch Tennessee awarded $100K grant

February 11, 2014

The Commercial Appeal, Memphis, Tenn.

Feb. 11--Launch Tennessee, a public-private partnership that's designed to spur entrepreneurship in the state and create more successful startups, has received a grant for $100,000 from the New York-based Blackstone Charitable Foundation as part of its five-year, $50 million Entrepreneurship Initiative, officials announced.

The grant will be used to help fund the organization's "Specialist Program," which will recruit college students from across the nation who are studying technology and management. The recruits will serve as in-house subject matter experts at Tennessee's nine regional startup accelerators, including one in Memphis.

This is the second consecutive year that Launch Tennessee received a Blackstone grant. In 2013, the organization also received $100,000 to underwrite The TENN, a program that selected 10 startup companies graduating from regional accelerators and assisted them in finding mentors, funding and business resources.

The Blackstone Charitable Foundation was founded in 2007 to spur entrepreneurship in economically challenged areas. The Launch Tennessee grant is part of $1.6 million that Blackstone has awarded this year to organizations that offer programs that support the growth of successful businesses.

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Source: Commercial Appeal (Memphis, TN)

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