Dallas’ startup numbers should get even better soon thanks to a $3m grant that will be divided among three Texas universities, one of which is the University of Texas at Dallas (UTD).
UTD’s good news was announced by the Blackstone Charitable Foundation on June 2. Blackstone will fund programs to promote entrepreneurship among students in various programs at the school. The grant will provide funding for three years, after which UTD has said it will continue the funding for the program.
The grant money will be used at UTD to establish an office where would-be entrepreneurs can work together, meet with mentors, or attend events. Additionally, two new members of staff will be hired to develop entrepreneurship programs. Topics likely to be covered would be choosing and development of a business model, obtaining funding, and the importance of quality marketing services.
Steve Schwarzman, Blackstone chairman and CEO, started Blackstone Charitable Foundation in 2007. Expansion of the program into Texas was the result of Schwarzman’s personal observations of the state’s strong entrepreneurial spirit, as well as Texas’ innovations in technology, medicine, gas, and oil, along with its rapidly increasing population.
The announcement of the grants in Texas came on the heels of a study conducted by the entrepreneurship think tank The Kauffman Foundation. The study listed three Texan locations in its top 10 U.S. cities for startup businesses: Dallas was No.10 and San Antonio No.9, while Austin claimed the No.2 spot on the list.
