To assist entrepreneurs in establishing firms to boost both the U.S. and global economy, the Kansas City, Missouri-based Ewing Marion Kauffman Foundation and San Francisco-based Arthur and Carlyse Ciocca Charitable Foundation have announced a new partnership.
In order to help Kauffman double its number of participants in the Kauffman Labs for Enterprise Creation endeavor, the Ciocca Foundation has awarded the foundation $600,000. This will help recruit and train future entrepreneurs who have shown the potential to launch their own billion-dollar companies and has helped the program double its incoming class, for which it held a competitive recruitment process last year.
Those entrepreneurs selected to participatewill begin the Labs training and mentoring program next month. Kauffman Labs for Enterprise Creation aims to provide the necessary education and mentorship to launch new firms.
"Partnering with Kauffman gives our foundation a vehicle to expand investments into a wider range of entrepreneurial activities, with a much higher probability of success and without adding expensive and inefficient infrastructure," said Zack Georgeson, Ciocca Foundation director .
"During this extraordinary time in philanthropy, many wealthy individuals are pledging to donate a majority of their wealth to causes dedicated to solving society's current problems. It is my hope that the Kauffman Foundation will be seen as a highly effective vehicle for 'preventing' future societal problems by helping to restore growth and employment in our economy through innovation and entrepreneurship," he added.
Partnerships such as this give light to the need to support entrepreneurship as a way to expand human welfare, according to Carl Schramm, president and CEO of the Kauffman Foundation.