Historically Black Clark Atlanta University in a partnership with the Black Economic Alliance Foundation, a national nonprofit organization that promotes generational wealth-building for the Black community, announced a funding partnership with Cisco, a leading systems technology company.
The commitment includes over $4 million in grants and direct technical services toward the development of the Center for Black Entrepreneurship (CBE) at Clark Atlanta University and $1 million towards the Black Economic Alliance Entrepreneurs Fund. The support will fund the future development of graduate programming at Clark Atlanta University and expands the center’s programming to students at Spelman College and Morehouse College, two other historically Black educational institutions that are members of the Atlanta University Center Consortium.
The funds will endow faculty positions for the expansion of CBE programming at Spelman College and Morehouse College and the establishment of CBE graduate-level programming at Clark Atlanta University. The investment also includes up to $1 million in financial contributions toward the BEA Entrepreneurs Fund. The fund provides capital to Black entrepreneurs and small business owners, and a portion of it is earmarked for applicants who are graduates of the CBE. Cisco will also donate technology products and services valued at over $1 million to all three institutions.
“The Center for Black Entrepreneurship and the BEA Entrepreneurs Fund are tangible solutions to advance work, wages, and wealth across the Black community,” said Samantha Tweedy, president of the Black Economic Alliance Foundation. “We’re thankful to Cisco for their generous support and strategic partnership in advancing the vision of the CBE and investing in Black entrepreneurs who will multiply prosperity for our community and, in so doing, grow the American economy.”