FOR IMMEDIATE RELEASE

Media Contact:
Brenda Wishart, Director
Harold Grinspoon Charitable Foundation’s Entrepreneurship Initiative
413.467.9020
bwishart@comcast.net

April 2007

HAROLD GRINSPOON CHARITABLE FOUNDATION ENTREPRENEURSHIP INITIATIVE AWARD WINNER RECOGNIZED BY NATIONALLY RECOGNIZED MAGAZINE, ENTREPRENEUR

Harold Grinspoon Charitable Foundation’s Entrepreneurship Initiative 2003-2004 “Entrepreneurial Spirit Award” winner, Josh Kerson, was profiled in the April edition of nationally recognized magazine, Entrepreneur.  When Kerson was a senior at UWW, UMass, while taking classes at Hampshire, he was nominated by Lemelson Program professor and Grinspoon faculty advisor, Colin Twitchell, for his invention of a hybrid electric recumbent cycle.  Kerson parlayed his $3,000 award into a Florence-based business, RunAbout Cycles, Inc., which is now selling cycles on-line and in a few specialized stores for $4,500 each.

Kerson was one of about twenty students recognized by the Initiative in its first year for demonstrating the “entrepreneurial spirit”.   Since the 2003-2004 academic year, the Harold Grinspoon Charitable Foundation’s Entrepreneurship Initiative has awarded over $250,000 directly to students who attend one of the following institutions: American International College; Bay Path College; Elms College; Greenfield Community College; Hampshire College; Holyoke Community College; Mt. Holyoke College; Smith College; Springfield College; Springfield Technical Community College; University of Massachusetts (School of Management and Entrepreneurship Initiative Club supported by the School of Engineering); Westfield State College; and, Western New England College.

The Initiative encourages, inspires and supports student entrepreneurs attending college in the Valley by enlisting the expertise and help of faculty advisors from participating institutions.  Faculty advisors are paid a stipend to teach at least one entrepreneurship course throughout the year; to promote entrepreneurial activity on their respective campuses; to advise business and entrepreneurship clubs; and to mentor students who demonstrate an “entrepreneurial spirit” as evidenced by their efforts to launch and manage their own businesses. 

On April 25, approximately three hundred students and their families, professors and administrators from area colleges, community leaders, commercial lending professionals and, of course Mr. Grinspoon and his advisory board, will gather together for this year’s Entrepreneurial Spirit Awards Ceremony and Banquet in Holyoke, MA, where 2006-2007 spirit award winners will be recognized.  Student entrepreneurs will market their businesses with table displays during the social hour.  Additional program highlights include a live “Elevator Pitch Competition” sponsored by our local community banks (2006 sponsors: Bank of Western Massachusetts; Berkshire Bank; Country Bank for Savings; Florence Savings Bank; PeoplesBank; United Cooperative Bank; West Bank & Trust Co.) wherein one student from each participating institution has 90 seconds at the podium to convince bank judges that his/her business concept is the best investment!  Three top winners are chosen to receive monetary awards.  This year’s keynote speaker is David Fialkow, Managing Director of General Catalyst Partners.

The Entrepreneurship Initiative is one of many initiatives supported by the generous philanthropy of Longmeadow resident and businessman, Harold Grinspoon.  For more information about Harold Grinspoon Foundation initiatives, visit hgcf.org or hgf.org.
For more information on RunAbout Cycles Inc. visit www.electric-cycle.com