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Foundation Support for Regional Innovation on Display at SSTI Conference
At the upcoming SSTI Annual Conference in Atlanta, SSTI staff will present on the role foundations have played in support of Venture Development Organizations (VDOs), accelerators, and other regional economic development organizations. Through research and interviews with various foundations, SSTI staff have identified nearly 200 examples of foundation grants to organizations that support a regional innovation system. Some of the major providers include the Kauffman Foundation, Benedum Foundation, Knight Foundation, McCune Foundation, Mellon Foundation, and the Cleveland Foundation. The grant amounts have considerable range, from $5,000 to $10 million, with an average grant over $350,000 but a median of $138,000. Many of the grants are more modest in scale, with 35 of the grants less than $25,000.