The American Chemical Societies Entrepreneurial Initiative

The American Chemical Society has finally done something right!
According to an article by Susan Ainsworth in the March 31 issue of Chemical and Engineering News, the ACS Board of Directors started a pilot program approximately 2 years ago as the American Chemical Society's Entrepreneurial Initiative. The Entrepreneurial Initiative (EI) was intended to support ACS members who would like to pursue starting and operating their own businesses. The ACS Board has since decided to revamp and optimize EI for another two years.
The program gives aspiring entrepreneurs help in preparing business plans, market research, identifying customers, contacts for advice, and sources of private capital and potential commercial partners. In addition, it sponsors a showcase fair, where aspiring entrepreneurs can pitch their business plans to investors and commercial partners.
Susan Ainsworth's article contains anecdotes of several companies which have been successfully developed under the program.
The key point is that ACS management is performing a service to its members and in such a way as to avoid its standard approach to members obtaining federal taxpayer money through Federal Agency grants.