Great article today in the WSJ about Michigan Corps, a non profit intent on boosting Michigan's ailing economy. Michigan Corps was recently started by Rishi Jaitly, a New York native and former Google executive.
Here's some info about Michigan Corps and Mr. Jaitly from the article:
The New York native and former Google executive this week launched Michigan Corps, a national nonprofit intent on boosting Michigan's economy and creating wealth for its residents. Founding board members include Google's chief executive Eric Schmidt, CNN's chief medical correspondent Sanjay Gupta, author Jeffrey Eugenides and former Digg CEO Jay Adelson.
Mr. Jaitly and his wife, Anuja, who previously worked for social entrepreneurship charity Ashoka, left their jobs in March, moved to Detroit and used $10,000 from their savings to help jump-start the charity. They raised $250,000 from founding members and other donations in what they call their first round of seed financing to launch the fund.
Michigan Corps looks to build a group of funders across the country called Corps Members to raise money and funnel grants to invest in local organizations that promote entrepreneurship, a better-trained work force, the retention and attraction of local companies, small-business financing, education and the strength of the housing market.
For instance, the Corps will invest in nonprofits such as Northern Initiatives, a Marquette-based nonprofit that has provided $31 million in loans since 1994 to rural entrepreneurs and small business in Northern Michigan and the Upper Peninsula. The Corps will also direct funds to Bizdom U, a nonprofit entrepreneurship boot camp founded by Quicken Loans chairman Dan Gilbert that provides start-up support to entrepreneurs looking to start businesses in Detroit.
Sounds like a plan to me. Michigan certainly needs Michigan Corps right now, and Quicken Loans can't help but being happy about Michigan Corps working with Bizdom U.
I can't wait to see the great things Michigan Corps does in the future.
Thanks in advance!