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Blackstone Foundation Invests $50 Million For Launchpad

Monday, May 03, 2010 5:14:00 AM PDT | VentureDeal Staff

Detroit, Michigan  --  The Blackstone Charitable Foundation has announced the plan to invest $50 million to support entrepreneurship in the communities hardest hit by the economic crisis.

The organization has partnered with the New Economy Initiative for Southeast Michigan, the University of Miami and other institutions to establish the "Blackstone LaunchPad".

The purpose of the program is to support innovative programs and ideas with potential for fostering entrepreneurship and potentially becoming a national model.

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