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Michigan Credit Union League

MCUF Grant Spotlight: The Launch Pad Takes Off!

The idea for The Lanch Pad was born from the recognition of a gap in the Jackson community for individuals who seek to start local service-based businesses. After several conversations around the community about this need and disparities between communities of color, it was also identified that there were even larger gaps in services for underserved and underrepresented communities in entrepreneurship.

A 2021 MCUF Community Enrichment Grant helped boost the financial support provided by TRUE Community Credit Union towards the development of The Launch Pad, a mixed-use business incubator with a focus on underserved and underrepresented communities in business.

Many Hands Community Services in Jackson took a year to research, create data and a plan to address this gap in the community and The Launch Pad has since taken off. During the first year, The Launch Pad invested in a robust curriculum and designed a four-week Entrepreneur Training Program, helping 46 budding entrepreneurs understand the basics of starting a business. Trainees also receive a one-year membership to the incubator and an opportunity to participate in a business pitch competition.

Up next for The Launch Pad is a physical location and a lease has been signed for an office and co-working space on the south side of Jackson. This new space will allow an expansion of services and increased access to the community.

The Foundation is a catalyst to increase the impact and awareness of the credit union difference. Increasing the wellbeing of people, families, businesses and communities in Michigan, through credit unions. MCUF Community Enrichment Grants boost credit union financial wellness activities and are available to credit unions for small- and large-scale initiatives.

What could your credit union do with a little help? Applying is easy; go here for more information and to apply.

Find more about The Launch Pad here.

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2022-04-28 00:00:00