Organization:Blackstone LaunchPad

Overview

Blackstone is a global alternative investment firm established in 1985.  They currently have 230 billion in assets, and they went public in 2007.  From their own description:

Blackstone is the world’s largest independent alternative asset manager, serving the investment needs of leading public pension funds, academic and charitable institutions and other investors for more than 25 years.  Our funds include private equity funds, real estate funds, customized hedge fund solution funds, credit-oriented funds and publicly traded closed end mutual funds.  In addition, we provide investment advice and management services to institutional investors through a variety of separately managed accounts. 

Purpose

Blackstone's Charitable Foundation includes an "Entrepreneurship Initiative", a part of which is their Blackstone LaunchPad program.  From their description:

Blackstone LaunchPad is a national model for fostering entrepreneurship through higher education. Based on a successful program at the University of Miami, it encourages entrepreneurial thinking and activity among undergraduate and graduate students as well as faculty and alumni for the purpose of incubating a new generation of entrepreneurs who will contribute to the economic revitalization of distressed regions.

They have a simple incubation process:

1. A young entrepreneur completes a profile that al members of the Launch Pad Community can access, and they complete a "Venture Assessment Form" that illustrates the details of their expected market, competitors, and the future of their product
2. Pair a student with a coach to develop a business idea- The student can meet regularly with the LaunchPad staff
3. Blackstone does the networking and provides the student with the proper resources- they are able to meet a number of business leaders in their area to recieve additional mentorship
4. Blackstone helps bring their product to the market

Blackstone builds these campus innovators by investing in selected campuses and providing the structure that the university can build from.

Distinct Differences From Other Offerings

Not a lot of campus incubators are run by an external resource, so that really makes LaunchPad stand out.  As opposed to being generally limited to an alumni network and resources, LaunchPad offers the networking and resources of being a leading global venture capital firm.

Impact Achieved For Students and Campus

LaunchPad has a presence on campuses as follows:

• Florida ($1.4 mil, university partnership)
• UCF
• Miami

• Pennsylvania ($3 mil over 3 years, 40,000 student outreach)
  • Philadelphia
  • Temple
• Ohio ($3.2 mil over 3 years, 72,000 student outreach)
  • Kent State
  • Lorain Country CC
  • Baldwin Wallace
  • Case Western
• Michigan ($2 mil)
  • Wayne State
  • Walsh College

Blackstone predicts 200,000 student entrepreneurs, a 25% annual student growth rate, and the potential to create 2,600 new jobs at the end of it's 5 year trial period, which began in 2010. 

The following is the Kent State LaunchPad:

Steps Required To Bring Resource to Campus

Awaiting contact with representatives.  

Contact Information

Awaiting contact with representatives.