Grants Totaling $73,500 Are Targeted to a Wide Variety of Projects
Springfield, MA – February 5, 2007 –– Fifteen community colleges from across the country were awarded a total of $73,500 in the Elevator Grant competition funded by The Coleman Foundation and the John E. and Jeanne T. Hughes Foundation at the 2007 National Association for Community College Entrepreneurship (NACCE) Conference, held in Orlando, FL, January 8 to 11.
Elevator Grants are small grants targeted to specific projects. Targeting specific projects, and not general operating support or capital, encourages new initiatives and allows the funding impact to be more easily identified.
The "elevator grant” method is based on the business planning skill of being able to describe a new business venture in a three-minute pitch that could be given to a potential investor during an elevator ride. Using the same concepts, the Coleman and Hughes foundations have conducted similar sessions for secondary, community college and collegiate educators over the last six years to demonstrate the impact of quick, well placed small grants and to promote the value of self-employment.
The selection process involved a short application/proposal process, an in-person "pitch” from each of 24 finalists at the NACCE Conference to the foundations’ members, immediate deliberation, and "on the spot” funding with checks delivered to grantees within 24 hours.
The Winners Colleges receiving grants at the NACCE Conference from The Coleman Foundation were: Columbus State Community College, OH - $4,500 to support development of an entrepreneurship certificate program for automotive repair and HVAC. Everett Community College, WA - $5,000 to support business loans for team-based ventures in two entrepreneurship classes. Haywood Community College, NC - $5,000 to support development of Entrepreneurship Video Modules of individual interviews or panel discussions of local entrepreneurs for educational training guides. Johnson County Community College, KS - $5,000 to support development of a program framework for credit and non-credit blended class on family business. Kingsborough Community College, NY- $4,700 to establish an Entrepreneur in Residence program with community college graduate entrepreneur from hospitality management industry. Minnesota State College - Southeast Technical, MN - $5,000 to support development of three pilot entrepreneurship courses and establishment of an entrepreneurship club and speaker series. Piedmont Community College, NC - $4,800 to support an E-Commerce Virtual Incubator to deliver an entrepreneurship training program and classes to entrepreneurs. Technical College of the Lowcountry, SC - $4,500 to develop an entrepreneurship certificate program via Internet, interactive CD-ROM and cable television. Washtenaw Community College, MI - $5,000 to support development of a Student Enterprise Competition Seminar Series to transform student ideas into plans for profitable businesses. York Technical College, SC - $5,000 to support a learning community for entrepreneurship through networking sessions between students and entrepreneurs, business plan competition and professional development for faculty. Winners of grants from the Hughes Foundation were: Hinds Community College, MS - $5,000 to support the development of a Business Incubation Center. South Central College, MN - $5,000 to a rural small business outreach program. Maysville Community & Technical College, KY - $5,000 for community outreach to emerging business owners. Northern Virginia Community College, VA - $5,000 to develop E degree and certification programs. Chattahoochee Technical College, GA - $5,000 to integrate entrepreneurship into the technical curriculum through a training program in motorcycle repair and parts.
The Coleman Foundation, Inc. is a private, independent grantmaking foundation established in Illinois in 1951. Its goal is to create change by supporting practical, financially sustainable, results-oriented initiatives in its main areas of interest, which include entrepreneurship awareness education, cancer research, care and treatment, housing and education for the handicapped, and diverse educational programs. From 1981 through 2006, The Coleman Foundation has invested more than $37 million in the promotion of entrepreneurship as a profession and the establishment of quality entrepreneurship education programs for aspiring and practicing business owners of all ages.
The John E. and Jeanne T. Hughes Foundation, Inc., is a private, charitable family foundation engaged in a range of philanthropic programs, primarily for entrepreneurship awareness and education.
About the National Association for Community College Entrepreneurship The National Association for Community College Entrepreneurship (NACCE) connects community college administrators and faculty with knowledge and successful practices regarding entrepreneurial thinking, entrepreneurship education, and student business incubation. NACCE holds an annual conference, hosts a dynamic list-serv, develops web resources such as shared entrepreneurship curricula and syllabi for faculty, creates guides in beginning and sustaining entrepreneurship and student business incubation programs, as well as, tips for grant proposals specific to entrepreneurial endeavors at community colleges. To learn more, visit http://www.nacce.com.