M State grant supports Frazee incubators
For the second year in a row, a Coleman Foundation Elevator Grant has been awarded to Beth Pridday, director of Business & Entrepreneurial Services on the Detroit Lakes campus of Minnesota State Community and Technical College.
Pridday received a $12,500 award in October at the annual conference of the National Association for Community College Entrepreneurship in Orlando, Fla. The funds will be used to establish a regional business incubator in the community of Frazee to assist in growing new and nearly new businesses. The new incubator office is opening today and will include six traditional multi-use offices and a retail and industrial use space. Three of the spaces already have been leased.
Coleman Foundation's Elevator Grants are small grants targeted to specific projects. The term stems from the business skill of describing a new business venture in a three-minute pitch that could be given to a potential investor during an elevator ride. Last year, Pridday was awarded a $7,500 grant to support a BES speaker and educational series.
The Coleman Foundation is a private, independent grant-making foundation whose interests include entrepreneurship education. Besides M State, eight other Midwestern community and technical colleges shared in the $107,000 in grants that the Foundation awarded in October.