How much financial support does a college- or university-based entrepreneurship center need to be successful? Of course that depends on what costs are covered by the school (staff salaries, space, administration, etc.) and what results are expected output (in terms of events, programming, startup investment, etc.)

However, based on some cursory information gathering, many LaunchPad campuses seems to have a healthy pipeline in terms of supplemental funding. The average response to “Additional Funding Secured for Program” in the July 2019 LaunchPad campus program report was just over $1.4 million. Comparatively, according to research gathered by Baylor University and presented at the 2018 Global Consortium for Entrepreneurship Centers (GCEC) conference, only 20% of centers run on more than $1 million per year and an equal percent run on $50,000 or less.

Regardless of where funding currently stands, more resources mean more opportunities for your entrepreneurial-minded students. So where can you go or what channels have you not tapped for new or expanded support? Four suggestions:

1. Individual Donors - What individuals are in your universe who may have the interest and means to support your LaunchPad? Consider connecting with alumni who have been through (and benefited from) your programs. If your LaunchPad formation is more recent, consider your school’s alumni who may have earned a degree in Entrepreneurship or started a company themselves - but predate the valuable opportunities you now offer. Another group of individuals that may support an initiative are current student parents. Consider encouraging students to invite family and friends to things like pitch competitions and presentations as soft introduction.
2. Business Donors - Many large companies have formal foundations or corporate social responsibility budgets. If the interests of these entities and their programs align with entrepreneurship there may be an opportunity for your LaunchPad to approach. Alternatively, smaller local businesses, and those with a vested interest in getting exposure to your students or university community, may be a less complex and cumbersome target to get funding or in-kind donations. Consider legal, accounting, marketing firms, software/technology agencies, manufacturing maker-space, or co-working companies who may be willing to sponsor a small LaunchPad program or event.
3. Foundation Donors - Beyond corporate foundations, many regional foundations and grant-makers are interested in local job-creation. The LaunchPad network goal for communities (to “cultivate entrepreneur-driven economic development and ignite regional job growth”) easily aligns with these types of missions. Most universities have access to the Foundation Directory Online and simply compiling a short list of targets is an easy first step. 
4. State and Local Governments and Quasi Governmental Entities - Similarly, local and state governments often have budgets designated for economic development and innovation. Every LaunchPad should have a relationship with the local Small Business Administration (SBA) and Small Business Development Center (SBDC), which had a nearly $800 million budget in 2019.

No matter which of these avenues you think may have the greatest additional funding potential for your LaunchPad, the most successful donor and sponsorship seeking efforts are always those developed in partnership with the development staff at your school or campus. (Raising money is, afterall, these folks’ full time jobs!) And remember, the campus LaunchPad experience can offer a wide range of opportunities for those feel-good, emotionally-charged donor cultivation and ask opportunities.