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New York universities team up with Blackstone LaunchPad to encourage student entrepreneurship

A new college entrepreneurship program could create 6,000 new jobs in New York State.

A new entrepreneurship program hopes to create 6,000 jobs in New York State.iStock

Even Marco Rubio can’t argue that going to college for engineering or math is a sound investment. And, in the midst of crushing student loan debt and more people getting degrees than ever, schools are looking for more and more ways to boost the hireability of graduates.

One way they’re doing that: entrepreneurship programs. To wit: five New York State schools have just announced partnerships with Blackstone LaunchPad to help their students turn their ideas to businesses. The program hopes to create some 6,000jobs and 4,000 new business ventures across New York State over the next five years.

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The Blackstone Charitable Foundation’s three-year, $4.5 million grant will allow Cornell University, New York University, Syracuse University, University at Albany (SUNY), and University at Buffalo (SUNY) to give students — regardless of major — the chance to delve into the world of startups, providing them a network of venture coaches and an entrepreneurial support system.

New York is the eighth region to join the LaunchPad program, following the likes of Michigan, California and Ireland. “From its earliest days, New York has been a cauldron of innovation,” said Sen. Chuck Schumer at the announcement. “The LaunchPad program will help tap into that entrepreneurial spirit; it will be a tremendous resource for our students, the participating universities, and for our economy.”

 

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