The Boston Foundation, which along with its donors made nearly $98 million in grants to nonprofit organizations during fiscal 2013, said Friday that it is awarding a three-year, $450,000 grant to MassChallenge, the startup accelerator program that recently moved into new space along the South Boston Waterfront.
MassChallenge is just welcoming a new class of entrepreneurs working in 128 startups. The teams are competing for a share of the $1.75 million in prize money that MassChallenge will award at the end of the program.
In making the MassChallenge grant, the Boston Foundation said it is looking to expand its efforts to “bring women and under-represented minorities into Boston’s innovation economy.”
“Our partnership with MassChallenge provides support to one of Boston’s most prominent entrepreneurial brands, and an opportunity to bring the benefits of the innovation economy to entrepreneurs in parts of Boston that need and deserve the opportunity to tap into tools and resources of the world’s largest startup accelerator,” Boston Foundation president and chief executive Paul S. Grogan said in a statement.
The announcement of the MassChallenge grant was included in a Boston Foundation press release that outlined some of the foundation’s funding activity during the current quarter.
For the quarter, the foundation said it awarded nearly $1.6 million in grants to 16 groups.
One grantee is the Center for Women and Enterprise Inc., which is receiving $50,000 to support its Community Classrooms initiative for entrepreneurs along the Fairmount Corridor of Boston.
The foundation also announced a three-year, $150,000 grant to the Massachusetts High Technology Council. The plan for that grant is to help the council work with the New England Tech Veterans’ Employment and Wellness Initiative. That initiative looks to support “Veteran reintegration into the civilian workforce, build resiliency, and connect veterans more efficiently with employers throughout New England, using a variety of tools and support strategies.” the foundation’s release said.