Grand Rapids Foundation gives grant to InnovationWorks
The Grand Rapids Foundation is providing a $500,000 grant to The Right Place Inc.’s InnovationWorks program. The grant will be spread over a two-year period and comes at the tail end of the U.S. Department of Labor’s WIRED funding, which will expire in January. The grant will allow The Right Place Inc. to maintain the program.
“We’ve been working on this for a while,” said Diana Sieger, president of Grand Rapids Foundation. “We have a good team of people both between The Right Place and the Grand Rapids Community Foundation who have been discussing how the Community Foundation can really help the sustainability of what is happening with InnovationWorks.”
InnovationWorks is a regional initiative, spread through seven counties, to help the commercialization of products, processes and services.
“As a community foundation we can’t fund businesses directly, but because one of our key strategies is economic prosperity we needed to really work through an effective nonprofit vehicle,” said Sieger. “The Right Place is the best economic development organization to do that.”