Babson College student and alumni businesses received $25,000 in seed funding for their ventures this spring through the John E. and Alice L. Butler Launch Pad at The Arthur M. Blank Center for Entrepreneurship. Through the generous donation of Daniel Munson ’91 and the Munson Family Seed Fund, the Butler Launch Pad helped 18 businesses reach their next milestone.
The Butler Launch Pad seeks to support even more ventures in the upcoming seed fund cycles with initial funds available for use from both the Ravi, Gayatri and Pooja ’19 Ika Endowed Seed Fund, and the Robert M. Mitchell ’62 Endowed Seed Fund.
The Butler Launch Pad Team continues to diversify its portfolio of supported businesses to align with Babson’s commitment to diversity, equity, and inclusion. Of the 18 businesses to receive awards:
- 22% include Black founders
- 83% represent one or more traditionally underrepresented diversity categories, such as Black, BIPOC, LGBTQ+, and female-identifying
- 39% are female-led startups
The ventures received funding in this round based on four criteria: overall viability of the business, tangible action taken to date, committed founders, and no significant funds raised. Also, the Butler Launch Pad was specifically looking to fund businesses that were seeking funds for prototyping or producing product, achieving milestones, and growth plans.
Alumni donors who are looking to support Babson entrepreneurs can direct funds to seed funding to student and alumni businesses when they donate to the Blank Center for Entrepreneurship.
Posted in Babson Briefs