Foundation research

The Burton D. Morgan Foundation awards entrepreneurial grants

NORTHEAST OHIO – The Burton D. Morgan Foundation has approved regional project support for the Economic Development Administration’s (EDA) Build Back Better Regional Challenge which aims to develop and strengthen regional industrial clusters across the country, while embracing economic equity and creating well-paying jobs and improving the United States’ global competitiveness.

They have also awarded grants to support entrepreneurship programs and opportunities for Northeast Ohio youth, students, and adults.

Local winners include:

  • JumpStart, $1 million to support entrepreneurial services and programs in northeast Ohio. JumpStart is leading one of eight projects included in Northeast Ohio’s joint proposal for the EDA Build Back Better Regional Challenge, which aims to align regional assets and strengthen its advanced manufacturing cluster, putting l focus on energy storage and advanced materials. Grant dollars will be used as cash consideration for the initiative if awarded;
  • The University of Akron Foundation, a conditional grant of $500,000 to support its cash match for the Build Back Better initiative, which will lead to the construction of a research and development facility and production of polymers. The EDA is expected to announce award decisions in September; and
  • Western Reserve Community Fund, $200,000 in loan capital to support small business lending.

Other local grants awarded by the Morgan Foundation to support entrepreneurship include:

  • Crafty Mart, $12,500 for Maker sessions that include Launch Market and Creative Catapult;
  • Community Initiatives, $20,000 to support the operation of the Entrepreneurship Funders Network;
  • Leadership Ohio, $5,000 for the two-day session on Leadership Ohio Akron;
  • North Akron Community Development Corp., $20,000 to support operations of NoHi and Market House; and
  • Summit Artspace, $20,000 to support artists’ entrepreneurship programs.

The Foundation also provided a proactive grant of $50,000 to Razom Inc., a 501(c)(3) organization. The word “razom” means “together” in Ukrainian. The funds will be used for the Emergency Response Project providing essential humanitarian relief for war and recovery in Ukraine.

For a full list of grants awarded, visit bdmorganfdn.org.

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