Tuesday, May 28, 2024
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Morehouse College and Spelman College Co-Create Center for Black Entrepreneurship with $10 Million in Funding from Bank of America

According to jbhe.com, the Black Economic Alliance Foundation, HBCUs Spelman College, Morehouse College and Bank of America have announced plans to develop the Center for Black Entrepreneurship, the first-ever academic center to assemble, educate, and empower a new class of Black entrepreneurial talent.

The Center for Black Entrepreneurship is powered by $10 million in funding from Bank of America and will be co-located on the Spelman and Morehouse campuses. The Center will support the development of an academic curriculum, faculty recruitment, co-curricular programming, and the development of new physical space.

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Mary Schmidt Campbell, president of Spelman and part of the Black Economic Alliance said “our students will learn to build strong businesses and create wealth for their families and their communities, all while obtaining a first-rate liberal arts education. We’ll hire top-tier faculty, support our students financially, continue to grow co-curricular programs that offer real-world experience, and offer courses online for those adults who are already in the workplace.”

In addition, the CBE will allow current student-run initiatives, like Spelman’s Entrepreneurship Club and the Black Venture Capital Consortium, as well as popular programs like Spelpreneur, to create a stronger network of young leaders.

“As an alumna of Spelman College, I know firsthand the lasting and meaningful impact the institution can make on its students and surrounding community,” said Cynthia Bowman, chief diversity and inclusion and talent acquisition officer for Bank of America. “This collective partnership will work to eliminate existing barriers by providing unique opportunities to Black entrepreneurs, ultimately fueling Black innovation and economic mobility within the next generation.”

The CBE seeks to eliminate the access barriers among Black entrepreneurs, professional investors, and business builders by leveraging education, mentorship, access to capital and opportunity.

Read more: https://www.jbhe.com/2021/03/the-center-for-black-entrepreneurship-established-at-morehouse-and-spelman-colleges-in-atlanta/

https://www.spelman.edu/about-us/news-and-events/news-releases/2021/02/22/bank-of-america-supports-creation-of-new-center-for-black-entrepreneurship-at-spelman-college-and-morehouse-college

[Photo credit: spelman.edu]

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