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Kauffman Foundation Launches New Web Site to Help Business Owners Give Back to Next Generation of Entrepreneurs

KANSAS CITY, Mo., March 21, 2005 (PRIMEZONE) -- FEATURE ARTICLE -- The Ewing Marion Kauffman Foundation has launched a new Web site featuring a variety of ways entrepreneurs can share their time, talent and money to help the next generation of entrepreneurs at every stage of development.

The Giving Back to Entrepreneurship site includes an array of features to help visitors get started in giving back and a unique giving scale that shows how much time and money you can expect to devote to various options.

"As an entrepreneur, Ewing Kauffman believed that giving back was the highest form of citizenship. He taught that 'giving back' is more important than 'taking from' in our society and established the Kauffman Foundation with the same sense of purpose and opportunity he brought to his business endeavors," said Carl Schramm, President and CEO of the Kauffman Foundation.

A growing number of successful entrepreneurs are giving back to their communities as well as helping to jumpstart the next generation of entrepreneurs. Since 1990, charitable donations by individuals in the United States have grown by more than half, from $110 billion to $180 billion in 2003.

While exact numbers are not known, the Kauffman Foundation has witnessed an increase in the number of successful entrepreneurs seeking ways to help those who want to follow in their entrepreneurial footsteps.

"Entrepreneurs accustomed to supporting charitable causes in their communities recognize that they have something special to give," said Sue Hesse, an entrepreneur-in-residence at the Kauffman Foundation. "Having achieved success as entrepreneurs, they could help others do the same. The purpose of the Kauffman Foundation's new Web site is to inform entrepreneurs about how they can give back to emerging entrepreneurs and to encourage such charitable practices."

According to Hesse, this new form of entrepreneurial philanthropy involves more than just writing a check to a favorite charity. In addition to financial giving, it can involve offering time and expertise -- such as serving as a teacher mentor, nonprofit board member -- and other forms of company giving.

The site features tips for:

Mentoring:

   -- The committed relationship between a beginning entrepreneur
      and seasoned veteran often spells the difference between
      success and failure
   -- A mentor's connections and networks can prove critical
      to a protege.
   -- Mentors must be able to relate to others, have a positive
      attitude, and be flexible and willing to allow the protege
      to make his or her own decisions.
   -- Mentors are not problem solvers; they are guides to good
      problem solving.

Serving on Boards:

   -- Board service is a more formal way than mentoring of
      providing expertise and counsel to a growing company.
   -- The for-profit board member benefits from watching a young
      company take advantage of opportunities and grow into a
      strong, values-based force in the community.

Evaluating and Incubating Innovation:

   -- Entrepreneurs can help unleash the power of ideas by
      working with those on the brink of scientific innovation
      at America's colleges, universities, and research
      institutions.
   -- Entrepreneurs with scientific expertise or experience in
      developing and commercializing technology can evaluate new
      discoveries and innovations and help navigate the complex
      path to the commercial market.

Teaching:

   -- Entrepreneurship courses are taught in universities and
      high schools throughout the country and in community
      support organizations, such as Small Business Development
      Centers.
   -- Entrepreneurs can share their time and expertise through
      guest lectures, classroom instruction, and panel discussions
      at any of these venues.

The Ewing Marion Kauffman Foundation of Kansas City works with partners to advance entrepreneurship in America and improve the academic achievement of children and youth. The Kauffman Foundation was established in the mid-1960s by the late entrepreneur and philanthropist Ewing Marion Kauffman. Information about the Kauffman Foundation is available at http://www.kauffman.org/.

CONTACT: 
Kauffman Foundation
Matt Pozel
816-932-1263
mpozel@kauffman.org

Thomas Phillips
212-935-4655
(comptwp@aol.com)