Lake Ridge Academy is proud to announce it has been awarded a $10,000 grant from the Veale Foundation. The grant will directly support the school's innovative Institute for Business and Entrepreneurship Graduation Certificate Program, including the launch of two new student-run businesses: a coffee shop and a spirit shop that will open in the fall.

“We are thrilled to partner with the Veale Foundation, a champion of entrepreneurial education across Northeast Ohio,” said Mitch White, Head of School. “Their support is a powerful endorsement of our Business and Entrepreneurship program, considering their deep expertise in the field. The Veale Foundation's investment allows us to empower our students with real-world business experience, setting them on a path to success.”

Under the guidance of business owners and entrepreneurs, our students will take the lead in creating products, devising marketing strategies, setting prices, and managing the daily operations of the two shops. This hands-on learning experience, a cornerstone of Lake Ridge Academy’s curriculum, will be complemented by AP-level coursework in economics and mathematics. 

The grant also includes a dedicated $1,000 fund to support student-led businesses outside of LRA. Students can apply for these funds in the fall semester by submitting a proposal outlining their business concept and requesting a specific amount of start-up capital. This initiative encourages students to explore their entrepreneurial spirit beyond the classroom walls and empowers them to launch or expand their independent ventures.

“We are excited and grateful to the Veale Foundation for their generous award of this grant,” said Mathea Barker, Director of the Institute for Business and Entrepreneurship. “They have been a wonderful aide in this process, and we look forward to many years to come of working together.” 

Lake Ridge Academy is a private, independent school on Cleveland’s west side. It is committed to providing a challenging and nurturing educational environment for students in grades K-12. The school's Institute for Business and Entrepreneurship Graduation Certificate Program, one of five Certificate Programs offered, equips students with the skills and knowledge necessary to thrive in an ever-changing world.

The Veale Foundation, established in 1964 by Harriet and Tinkham Veale, is a Northeast Ohio institution dedicated to improving the lives of others through strategic charitable donations. Its funding priorities align with Lake Ridge Academy's Institute for Business and Entrepreneurship Graduate Certificate program, which focuses on entrepreneurship, education, and fostering a spirit of community and innovation. The support from the Veale Foundation will empower students and give them the tools they need to succeed in a highly competitive business world.