John Hope Bryant, CEO and founder of Operation HOPE, has announced a massive $1.8 million donation for 70 Albany State University graduates who want to pursue entrepreneurship. WALB reports.
Bryant made the news as he spoke as the HBCU’s fall commencement speaker on Dec. 14 in Albany, Georgia.
Each graduate will receive $25,000 along with a “special forces team” to help them start their business; A Shopify account for e-commerce and full banking support.”
Although Bryant is not an Albany State graduate, his philanthropic work drives the need for more black-owned businesses around the world.
“There’s a Steve Jobs in every community. There’s a hero waiting to be born in every community,” Bryant said. that’s really the whole point of power. You collect, you give.”
All graduates will receive financial support and payment systems for free, a free business plan and a sit-down with a lawyer and accountant.
“They will also have a business manager and an e-commerce manager,” Bryant added.
Historically black colleges and universities, such as Albany State, are known to play a critical role in the formation of black business owners and entrepreneurs, according to global management consulting firm McKinsey & Company it turned out there was an opportunity for HBCUs “to help train and develop the next generation of Black entrepreneurs and to help Black entrepreneurs grow and sustain businesses in their communities.” Forbes:.
It revealed that other venture capitalist firms, such as Andreessen Horowitz and SoftBank, “made multimillion-dollar pledges to invest in black entrepreneurs.”
The opportunity to raise the next generation of entrepreneurs is one of the reasons Dr. Lawrence M. Drake, II, ASU’s interim president, invited Bryant to speak at the commencement ceremonies.He said he had the time of his life when no one believed or invested in him.
“John and I are good friends. “We’ve known each other for a while. I also thought he could relate to the audience. He and I both share a similar journey as many of the students who are sitting there today,” Drake said. So when we were looking for someone we wanted to ignite and be someone our scholars will remember, John certainly came to mind.”
There is still work to be done on the criteria that will determine which Albany graduates will receive the grant; However, GPA, business goals and essay will be considered. Criteria will be confirmed after the holiday.
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