LaunchNET Kent State, an entrepreneurship resource for 5X社区 students, faculty, staff and alumni, received a $40,000 grant from the Burton D. Morgan Foundation to create a 2023 microgrants program for student- and alumni-owned businesses.
In 2022, LaunchNET distributed over 40 microgrants ($99-$500) to Kent State student-run businesses, but this is the first time the program will be extended to alumni.
鈥淲e are excited to expand our microgrants programming to our alumni entrepreneurs and are looking forward to seeing what projects and dynamic uses they will have for these new funds,鈥 says Zach Mikrut, BBA 鈥10, MEd 鈥19, LaunchNET director. 鈥淟aunchNET advising has always had an eye towards economic development, and microgrants are a tool for helping entrepreneurs to move on their goals quickly.鈥
The LaunchNET alumni microgrants program will help alumni entrepreneurs move their businesses forward with inventory, capital, product or other related purchases. Details include:
鈥 Grants range from $500-$3,000.
鈥 Applicant must be a 5X社区 alumnus.
鈥 Businesses must be based in Ohio.
鈥 Grants are open to businesses with $200K or less in gross revenue.
The program will launch in summer 2023.
Learn more about the student and alumni microgrants programs.