Blackstone gives $100,0000 to LaunchTN for business aid program

Blackstone gives $100,0000 to LaunchTN for business aid program

February 12th, 2013 by Staff Report in Local - Breaking News

Charlie Brock

Photo by Contributed Photo/Times Free Press.

Launch Tennessee (LaunchTN), a public-private partnership focused on supporting the creation and development of high-growth companies in Tennessee, today announced a $100,000 grant from the Blackstone Charitable Foundation.

The money will be used to pilot a new "Tennessee Top 10" initiative aimed at providing additional assistance to the top 10 companies graduating from one of Tennessee's nine regional business accelerators in 2013, including the CoLab in Chattanooga.

Thirty "Master Mentors" will be selected to participate, primarily with deep expertise in either technology or healthcare, and will be required to support the 10 selected startups from Tennessee's 2013 accelerator cohort.

"Thanks to Gov. (Bill) Haslam and his Administration's commitment to entrepreneurship and innovation, Tennessee has received the attention of such a highly regarded institution," Charlie Brock, CEO of LaunchTN, said in a statement today.

The grants were made through the Blackstone Organizational Grants Program. Through this program, the Blackstone Charitable Foundation is helping innovative organizations that directly support entrepreneurs to pilot, expand or replicate projects or programs that will catalyze the growth of successful businesses, industries, and communities.

"The future of the global economy depends upon a pipeline of creative, talented, and inspired entrepreneurs," said Amy Stursberg, executive director of the Blackstone Charitable Foundation. "Through this program, we are able to direct the Foundation's resources towards connecting the best non-profit partners with entrepreneurs to help them on a path toward innovation and discovery."