Techstars Foundation and Western Union Foundation Announce Joint Grants Supporting Future Entrepreneurs
July 24 2019 - 8:00AM
Business Wire
Funding for MIT D-Lab and Watson Institute Will
Support Future Innovators
Techstars Foundation and the Western Union Foundation announced
today a $100,000 joint commitment to fund two grants of $50,000
each to MIT D-Lab and Watson Institute to support underrepresented
youth. The announcement marks the first time the two foundations
are working together to jointly award grants focused on innovation
and business development skills programs for future
entrepreneurs.
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“We see an opportunity to create a greater impact by working
together with the Techstars Foundation to co-fund these grants,”
said Elizabeth Roscoe, executive director of the Western Union
Foundation. “Both foundations share a strong interest in supporting
youth who don’t have access to equal opportunity to become future
entrepreneurs and spur the next wave of innovation. This commitment
aligns with our foundation’s ongoing efforts to support education
and the development of skills that can not only transform lives,
but regions.”
MIT D-Lab has current student and staff fieldwork projects,
research programs, and fellows in more than 25 countries around the
world. The new grant will focus on the program’s project in Greece
to equip refugee women with technical and soft skills to establish
their own businesses while building their confidence and ability to
solve problems. Created with Faros, an NGO located in Athens, the
project also receives funding from UNHCR, a global organization
dedicated to saving lives, protecting rights and building a better
future for refugees, forcibly displaced communities and stateless
people.
“Together with the Western Union Foundation we will be able to
have an exponential impact on creating a positive social and
economic global change,” said Andrea Perdomo, director of the
Techstars Foundation. "This co-grant opportunity will enable us to
work together to support these two organizations as a team.”
Watson Institute is a reimagined model of higher education for
next-generation innovators, leaders, and entrepreneurs. Watson
Institute will use the funding to hold two Basecamps in Boulder,
Colorado and Mexico City for underrepresented youth. Each Basecamp
includes intensive entrepreneurship training, mentorship, a master
course, and a demo competition. Participants will grow as
entrepreneurial leaders and gain ongoing access to Watson
Institute’s online resources, networks and mentorship sessions.
This grant is part of more than $2 million in global grants the
Western Union Foundation has delivered in 2019, addressing a range
of issues including workforce skills training, education, and
humanitarian and disaster relief.
About Techstars Foundation
The Techstars Foundation’s mission is to develop and support
underrepresented entrepreneurs by providing non-profit
organizations with grants and access to the Techstars Network.
Created in 2015, Techstars Foundation fosters an inclusive
entrepreneurship ecosystem accessible to all aspiring entrepreneurs
regardless of their gender, race, ethnicity, age, gender identity,
LGBTQ or ability. The Techstars Foundation vision is to stimulate
innovation and positive social and economic global change through
empowering underrepresented communities and entrepreneurs. The
Techstars Foundation funds 501(c)(3) or in-country equivalent
organizations with educational programs that are aligned with the
foundation’s mission. The Techstars Foundation is a donor-advised
fund managed by the Community Foundation Boulder County.
About Western Union Foundation
The Western Union Foundation believes that education is one of
the surest pathways to economic opportunity. Through collaborations
with NGOs around the world, the Foundation has embarked on a
mission to connect 50,000 migrants, refugees, women and youth to
the global economy through demand-driven skills training and
workforce enablement programs by 2020. The Foundation also offers a
global scholarship program that helps put a post-secondary
education in reach for in-need students studying in the STEM fields
and business. To date, more than $120 million has been given to
fund projects in 137 countries across the globe, including disaster
relief for communities in crisis. The Western Union Foundation is a
separate charitable corporation that is tax-exempt under 501(c)(3)
of the US Internal Revenue Code, and receives support from The
Western Union Company, its employees, agents and business partners.
Contributions to the Foundation are tax-deductible for US income
tax purposes. To learn more, visit foundation.westernunion.com or
follow us on Twitter @TheWUFoundation.
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version on businesswire.com: https://www.businesswire.com/news/home/20190724005182/en/
Media Contacts: Megan Nyvold, Western Union
Megan.Nyvold@wu.com (720) 332-7814 Rachel Rogala, Western Union
Rachel.rogala@westernunion.com (720) 332-2686 Andrea Perdomo,
Techstars Foundation Andrea.perdomo@techstars.com (980)
220-3541
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