The Burton D. Morgan Foundation, which supports entrepreneurship education and programming in Northeast Ohio, awarded a $1 million grant to
JumpStart last week for an entrepreneurial mentoring program over the next three years.
“Our goal is to reach aspiring entrepreneurs by using the talent and time of the mentors to help these businesses move along with their plans,” explains Deborah D. Hoover, Burton D. Morgan Foundation CEO and president.
The mentoring program has been operating as a pilot program for about a year at JumpStart, with 24 mentor teams participating. The goal is to provide mentoring and support services to 1,500 early stage businesses in the region through 2015.
“This is an amazing investment the Burton D. Morgan Foundation made in JumpStart and the work we’re doing in the region,” says JumpStart COO Cathy Belk. “This is an incredible opportunity for entrepreneurs to access the wisdom and insight of people who have been through the same things they’re going through, people who know how to grow a business in tough positions.”
The grant will allow for the creation of a mentorship council, which will help form the most effective mentoring program. “The council will learn about best practices, understand other programs in the region and the differences between them,” says Belk.
Mentoring was one of Morgan’s core values as an entrepreneur himself. This program fits exactly with the foundation’s mission. “Mr. Morgan helped mentor hundreds of businesses,” says Hoover. “He loved to talk to people and had an open door policy.” Belk adds that JumpStart CEO Ray Leach once received mentoring from Morgan.
Source: Deborah Hoover and Cathy Belk
Writer: Karin Connelly