Several Akron-area entrepreneurship initiatives are receiving a financial boost from the Burton D. Morgan Foundation through grants approved by its trustees last month.
The Manufacturing Advocacy Growth Network (MAGNET), which recently opened an office in Akron, will get $100,000 to provide support and continuing education to manufacturing companies. The recently formed Bounce Innovation Hub, one of MAGNET’s community partners, was awarded $50,000 for the Choose Growth Akron initiative.
Bounce is home to a number of housing startups and growing companies. Its affiliations include Crafty Mart, Economic Community Development Institute, Women’s Network of Northeast Ohio and BioEnterprise. Bounce and MAGNET are also working together to establish Iterator, a program to aid startup product manufacturing companies.
The Bounce grant was partially funded by a $3.75 million grant to the Morgan Foundation by the Richard J. Fasenmyer Foundation.
“This generous gift from the Burton D. Morgan Foundation will help us work to encourage Akron companies to be deliberate and strategic about their growth planning,” said Doug Weintraub, Bounce CEO, in a news release. “Entrepreneurs should always be looking to that next big milestone. Thanks to the Morgan Foundation, and along with our many partners, Bounce and our community can provide the support and services our companies need to grow, right here in Akron.”
The Morgan Foundation also is allocating $150,000 to the Team NEO Foundation for additive manufacturing and “internet of things” initiatives.
Morgan Foundation trustees approved approximately $1.5 million in entrepreneurship grants in this round of funding.
Among other local grants:
• A combined total of $490,000 over two years to support four Junior Achievement programs serving nineteen counties in Northeast Ohio, including $170,000 for Junior Achievement of North Central Ohio — which moved its operations from Akron to Tallmadge this month.
• Akron Public Schools, $19,150 over two years for the Marketing Challenge program.
• National Inventors Hall of Fame, $182,000 to support Camp Invention and Invention Project programming as well as the Innovation Force.
• Akron SCORE chapter, $35,000 for general operating.
• Canton Regional SCORE, $15,000 for workshops, marketing and outreach.
• Crafty Mart, $4,000 to support maker sessions.
• Well Community Development Corporation, $20,000 for the Akron Food Works program
• Walsh University, $17,000 for programming and recruitment efforts related to The Garage business incubator.
• Prepared for Life, $10,000 for license fee for Lemonade Day NEO.
• The Devil Strip, $7,290 for coverage of entrepreneurship in Northeast Ohio.
• Western Reserve Academy, $4,400 for a high school hackathon for Global Entrepreneurship Week.
The Hudson-based foundation also approved several grants for its home community:
• City of Hudson, $1,200 for Hudson Community Television production of “Good Day in Hudson.”
• EMS Outreach Fund, $1,000 for RUOK? Program.
• First Congregational Church, $10,000 for operating support.
• Hudson City Schools, $15,000 to support Hudson High School clubs.
• Music from the Western Reserve, $5,000 for operating support.
• Seton Catholic School, $2,500 for the Habits of the Heart program.
A complete list of grants awarded can be found by visiting the foundation’s website at www.bdmorganfdn.org/grants-awarded.