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Clark Atlanta University (CAU) is breaking barriers for Historically Black Colleges and Universities (HBCUs) as well as Black entrepreneurs with a powerful call to action. According to an announcement, the southern institution has announced a new partnership with Operation HOPE for a national initiative committed to creating one million Black businesses by 2030. The new pledge makes CAU the first HBCU to participate in the $130 million Shopify-funded initiative. The One Million Black Business Initiative (1MBB) also includes generating 1,000 Black entrepreneurs and business owners over the course of its nearly decade-long commitment. Through the 1MBB, CAU will have an opportunity to engage HBCU students, alumni, faculty and staff to grant them access to resources and capital to help successfully jumpstart and sustain their entrepreneurial ventures. “CAU students—and alumni— are ambitious, creative and filled with innovative ideas. It is the CAU way,” said president George T. French...
Doritos has announced a new financially-backed initiative that’s all about amplifying Black joy, strength and resilience in our community. As part of its 2020 #AmplifyBlackVoices work, a press release reports that Doritos is now launching and funding SOLID BLACK™ — a new multi-platform initiative that’s dedicated to uplifting the voices of Black innovators and creators today. The initiative will reportedly involve Doritos investing more than $5 million in resources to help drive change in Black communities on behalf of the voices and stories that often go unheard. “Doritos has long been a brand that believes in igniting and championing bold self-expression and authenticity,” Stacy Taffet — VP of marketing, Frito-Lay North America — said in a press statement. “We are proud to provide a platform and resources to innovators and creators who are making a lasting impact on culture and hope that their stories can inspire the next generation in the continued effort to create a more equal...
Clark Atlanta University (CAU) has announced itself as a partner of a joint initiative that aims to introduce its students to careers in private equity. According to a press release, CAU is one of three Historically Black Colleges and Universities (HBCUs) — others being Morehouse and Spelman College — to join the first-of-its-kind industry initiative powered by non-profit ALT Finance Corp. and leading investment firms Apollo Global Management, Inc., Ares Management Corp. and Oaktree Capital Management LP. The $90 million initiative — formally known as “AltFinance: Investing in Black Futures”™ — was launched as part of an effort to prepare HBCU students to pursue alternative career paths in private equity or alternative-credit investing. Additionally, all three investment firms have committed to donating $3 million each per year for the next 10 years to fund ALT Finance Corp., marking this as the first significant multi-firm commitment to generate more opportunities in the...
Instacart is using its latest initiative to amplify emerging Black-owned brands online. A press release reports that the digital grocery platform has announced a new $1 million advertising initiative that will showcase Black-owned consumer packaged goods (CPG) brands within the Instacart marketplace. This will mark Instacart’s first-ever program designed specifically to benefit Black-owned brands on its platform through its robust advertising resources. Through this initiative, Instacart Ads will give its Black-owned brands the opportunity to reach a bigger audience amongst its digital aisles by way of prominent ad placements on the millions of items available through the platform’s 600 plus national, regional, local retailers and brand names. “As our service grows, we believe Instacart has a unique opportunity to further amplify Black-owned and Black-led brand partners in the digital aisles,” Seth Dallaire, Chief Revenue Officer at Instacart, said in a statement. “We want Instacart...
Over the past few months, organizations across industries have come together to brainstorm ways they can pool their resources to uplift and support Black and brown entrepreneurs. This week, Black Innovation Alliance — an entity comprised of support organizations that serve Black innovators — and VC firm Village Capital announced the launch of a new initiative called Resource, a nationwide effort that strives to amplify entrepreneur support organizations (ESOs) that are led by and focused on founders of color, TechCrunch reports. Resource — a coalition made up of companies like Moody’s, The Sorenson Impact Foundation, Travelers and UBS — is supported by a national coalition of funders that are dedicated to entrepreneurs of color. According to TechCrunch, the initiative’s mission is to lend support to local accelerator programs and incubators to build a healthy, flourishing ecosystem of leadership with Black and brown founders helming it. “We want to make sure that those accelerators...
This is how you do it! Nike has always been consistent in putting action behind their words when it comes to supporting Black lives. Remaining consistent, the athletic wear giant has announced a $500,000 investment with Black Girl Ventures. “The $500,000 investment from NIKE, Inc. will support Black Girl Ventures in its efforts to provide Black and Brown women-identifying founders with access to community, capital, and capacity-building to support entrepreneurship,” said the company in a press release. “This contribution builds on the commitments to Black Girls CODE, NAACP Empowerment Programs, and the NAACP Legal Defense and Educational Fund, Inc. (LDF) announced in July 2020.” Black Girl Ventures — a Washington D.C.-based nonprofit — is committed to addressing the unique challenges Black and Brown women face in accessing social and financial capital to grow their businesses. “Nike’s funding will help us grow our reach through new chapter development, increase our technology...