Mastercard to Give $5 Million in Grants to Spelman College and Morehouse College to Help Develop Black Entrepreneurship Center

Mastercard on Wednesday announced it is giving out a total of $5 million in grants to two Atlanta Historically Black Colleges and Universities to help develop the Center for Black Entrepreneurship.

The CBE will further the development of cutting-edge entrepreneurial programming, thought leadership, networking and academic and mentorship opportunities for aspiring Black entrepreneurs, Mastercard said.

“For over a century, HBCUs have played a critical role in nurturing professional talent and creating economic mobility in Black communities,” said Salah Goss, senior vice president for social impact at the Mastercard Center for Inclusive Growth. “By investing in HBCUs, Mastercard is intentionally choosing key institutions who we believe can be catalytic in furthering our commitment to ensuring that the digital economy works for the Black community, and for everyone, everywhere.”

In partnership with the Black Economic Alliance Foundation, Morehouse College and Spelman College are in the process of establishing the CBE with financial support from Mastercard, among others. The CBE will help assemble, educate and empower a new generation of Black entrepreneurial talent. Specifically, the CBE will focus on eliminating opportunity gaps between Black entrepreneurs, professional investors and business builders by leveraging education, mentorship and access to capital and opportunity.

“Its amazing to hear of donors continuing to support our schools because we are the future,” said Spelman senior Taylor Moorer.

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