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Lowe Foundation focuses on second-stage entrepreneurs
By ANN RICHARDS
CASSOPOLIS, Mich. — The Edward Lowe Foundation is attempting to drive economic change by focusing on “second-stage entrepreneurs” — that is, companies that have moved beyond the start-up phase and possess the potential and desire to grow.
The foundation, created in 1985 by the developer of the cat box litter industry, is one of Michigan’s 180 operating foundations, which direct and manage research, social welfare or other programs determined by their governing bodies or charter.
“We’re trying to encourage a change in attitude about how jobs are created in Michigan,” said Mark Lange, foundation executive director.
“We believe that entrepreneurs drive economies. Although there are substantial resources for small start-ups and big businesses, there are few resources for second-stage business that employ fewer than 100 full-time workers and are focused on growth.
“In Michigan, there are all kinds of mid-sized firms contributing to the economy. We create and deliver programs for these businesses through other organizations.”
The foundation presents a “Companies to Watch” awards program in cooperation with the Michigan Economic Development Corporation and other agencies. This program not only brings recognition to second-stage companies, but also focuses more attention on the sector and builds support for entrepreneurialism.
The foundation also provides educational programs and retreats for second-stage companies and entrepreneur support organizations. These programs encourage peer learning, help business leaders think differently, and assist them in taking their organizations to the next level, Lange said.
“We base our work on the concept of ‘economic gardening,’” Lange said. “It’s an economic development strategy in which jobs are created through existing company growth and entrepreneurial activities, providing balance to traditional business recruitment activities.”