Jeffrey Rich ’67, partner at Rich Michaelson Magaliff, LLP and SU Libraries Advisory Board Member and LaunchPad mentor, has made a multi-year pledge of $25,000 per year for five years to the Syracuse University Libraries’. The total pledge of $125,000, beginning in spring 2020, will go toward student grants to pursue business startup ventures via the Blackstone LaunchPad powered by Techstars, helping students move ideas from concept through research and discovery to proof and commercialization.
“I wanted to contribute in a way that directly supports student new ventures and removes any obstacles to startup development,” said Jeffrey Rich. Students interested in applying for grant funding to progress their business ventures can email e-mail LaunchPad@syr.edu.Grants up to $5,000 will be reviewed monthly after students complete a Request for Funding application. Grants can be used for prototypes, research, patent applications, incorporation, marketing or legal counsel, or other tangible out-of-pocket expenses. Applications will open in April 2020.
“This is a significant funding opportunity to grow entrepreneurship and innovation broadly across campus,” said David Seaman, University Librarian and Dean of the Syracuse University Libraries. “In fact, I believe this is the first campus-wide, non-equity, funding opportunity available to all students at Syracuse. These grants remove the barriers to growth for student ventures, while allowing students to maintain complete ownership of their business.”
Jeffrey Rich ’67 graduated from the Maxwell School and obtained his JD from New York University School of Law in 1970. He specializes in commercial law and financial restructuring at the firm Rich Michaelson Magaliff LLP. In addition to being active in various legal and charitable organizations, he is an active mentor with the LaunchPad and was recently appointed to represent the Libraries on the University’s National Campaign Council.
The LaunchPad will coordinate the program on behalf of SU Libraries. An online application will include requirements for students to specify a detailed project over a clear timeframe with identified outcomes that will help move their idea closer to proof of concept. All Syracuse University students in good academic standing are eligible to apply. Awards are limited to one per team per semester.
There are several opportunities to support innovation at Syracuse University through SU Libraries. To learn more, please contact: Ronald Thiele, Assistant Dean for Advancement, SU Libraries, T 315.443.2537 M 315.560.9419. rlthiele@syr.edu.