The Black Economic Alliance (BEA) and Visa foundations have announced a $5 million grant partnership to bolster development of the Center for Black Entrepreneurship (CBE) housed at Spelman and Morehouse colleges. 

CBE aims to develop a pipeline of Black entrepreneurs and connect them to investment opportunities. The Visa Foundation’s commitment will support the development of an entrepreneurship program, including the hiring of faculty and building curricula for students at the colleges, as well as making online upskilling courses globally accessible. In addition to Visa Foundation’s $5 million grant, Visa Inc.’s Atlanta employees will be able to provide CBE with pro bono volunteering and other forms of in-kind support. 

“We are grateful to the Visa Foundation for their meaningful investment in the Center for Black Entrepreneurship,” said BEA Foundation president Samantha Tweedy. “Their support will help us expand the training the CBE is providing to the next generation of Black innovators and build an ecosystem that connects Black entrepreneurs to capital.” 

(Photo credit: Getty Images/FG Trade)