Center for Black Entrepreneurship launched with $10 million

Center for Black Entrepreneurship launched with $10 million

The Black Economic Alliance Foundation, Spelman College, and Morehouse College have announced the launch of an academic center focused on training and supporting a new generation of Black entrepreneurial talent.

Funded with a $10 million grant from Bank of America, the Center for Black Entrepreneurship will be located on the campuses of Spelman and Morehouse colleges and will work to address access barriers to capital and expertise for Black entrepreneurs. To that end, the grant will support the development of academic curricula, faculty recruitment initiatives, and co-curricular programming with Clark Atlanta University and Morehouse School of Medicine, as well as online portable certificate programs in the areas of project management, data science, coding, and cybersecurity.

"Morehouse and Spelman are two of the nation's leading liberal arts colleges primarily serving the Black community and have some of the highest social mobility rates in the country," said Wendy Stewart, Atlanta market president for Bank of America. "Partnering with these historic institutions will be instrumental in supporting [a] generation of entrepreneurs that will ultimately create economic opportunity and generate jobs in Atlanta."

"The Center for Black Entrepreneurship will help close the opportunity gaps among industry, the investment community, and Black entrepreneurs...[and] harness the multiplier effect of education, exposure, mentorship, access to capital, and opportunity," said Black Economic Alliance executive director David Clunie. "The Black Economic Alliance is proud to partner with Spelman and Morehouse to bring this unique initiative to fruition, and we appreciate the anchor funding from Bank of America enabling us to launch the program."

(Photo credit: GettyImages)