News Releases

Department of Commerce grant allows entrepreneurship programs to continue economic development

Tuesday, August 31, 2010


A grant for $115,000 for three years will allow the University of Kansas School of Business entrepreneurship programs to continue assisting economic development in Kansas.

The grant approved by the U.S. Department of Commerce Economic Development Administration will support the school’s launch of RedTire LLC, a program that helps retiring small-business owners. The program matches KU students who want to live and work in Kansas with business owners throughout the state, and RedTire will guarantee loans to help the students purchase the businesses when their owners retire.

The grant also will allow the entrepreneurship programs to underwrite development projects at the Bioscience and Business Technology Center, a Lawrence and Douglas County Bioscience Authority program that provides facilities and specialized administrative assistance to fledging local companies.

“This grant means employment opportunities for all KU students in the pursuit of business consulting projects,” said Wallace Meyer, director of entrepreneurship programs at the School of Business. “It also means creation of new businesses and direct service learning opportunities for dozens of KU students.”

In addition, the grant will partially fund new faculty to teach and implement entrepreneurship programs at the School of Business and continue to develop economic enhancement projects for Kansas and the surrounding regions. It also provides funding for further research, education and experiential learning opportunities for business students.

“This was a team effort,” Meyer said. “The KU School of Business, the KU Center for Entrepreneurship and the Institute for Policy and Social Research all played a major role in securing this grant. This grant approval is consistent with our mission to provide entrepreneurial opportunities to all KU students."

For more information contact:

Toni Dixon
tonidixon@ku.edu
(785) 864-4449

 


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