Lincoln University plans to use a $100,000 private grant to support the launch and expansion of businesses in Central Missouri through a symposium and boot camp.
LU announced last week it had been awarded a $100,000 Heartland Challenge grant from the Kansas City-based Ewing Marion Kauffman Foundation.
The grant will be used to support LU's Small Business Development Center, which will use the money to "assist aspiring and existing entrepreneurs to start or expand businesses in central Missouri through Pitch It contests, a business symposium, and LaunchU, a six-week entrepreneurship boot camp for aspiring entrepreneurs and early-stage businesses," according to a news release from LU spokeswoman Misty Young.
LaunchU will include 36 hours of training with a certified instructor, educational handouts, a workbook, and guest speakers who are experts in accounting, law, lending and marketing, according to the news release.
Coursework will also include "participants competitively presenting their business plans to a group of investors and financial prospects to win seed monies allowed by the grant," the news release notes.
Lincoln President Jerald Jones Woolfolk said in the news release: "We recognize the existing challenges for a new business to secure capital, develop a sustainable plan and thrive in today's economy."
"The LaunchU program will equip new or early business owners with a complete toolkit that culminates with a U.S. Small Business Administration-approved business plan to take to a lender. Our program connects entrepreneurs with local expertise across our region," Woolfolk added.
The LaunchU program and Pitch It contest dates will be announced at a later date - "in the near future," according to the news release.
The Heartland Challenge grant will pay for curriculum for up to 30 participants.
To register or ask further questions, contact SBDC Director Lauren Carter at [email protected] or 573-681-5031.
More information about the Kauffman Foundation is available at kauffman.org.