SAN FRANCISCO, June 29, 2023 /PRNewswire/ — The HBCU Founders Initiative (HBCUFI), a non-profit organization that supports HBCU students and alumni on their entrepreneurial journey, announced that it has selected five additional HBCUs to join its Pre-accelerator programwhich is in place to provide expert support to students and alumni exploring entrepreneurship and launching technology-powered businesses on HBCU campuses.
More than 750 students and alumni from more than 80 HBCUs have benefited from HBCUFI programming, with attendees raising more than $2 million for their startups.
The five new HBCUs incorporated into HBCUFI’s pre-accelerator program include Hampton University, Morehouse College, University of Southern Texas, Benoit CollegeAnd Bethune-Cookman University.
These institutions will join HBCUFI’s inaugural Fall 2022 cohort of seven partner HBCUs that include Bowie State University, Elizabeth City State University, Morgan State University, North Carolina A&T University, Oakwood University, Prairie View A&M UniversityAnd Spelman College.
This brings the total number of HBCUFI campus-based cohorts to 12 institutions, with growth waiting list of schools ready to join forces. Prior to launching its inaugural cohort of 7 partner HBCUs in 2022, HBCUFI worked with HBCU students and alumni interested in entrepreneurship through its virtual programming offerings.
“HBCUFI is the missing piece of our entrepreneurial community development package at Benoit College“, dr. Tracy Harrel DunnDean of Benoit College Burroughs School of Business and Entrepreneurship, and Aaron Taylor, said Benedict’s BEST Innovation Lab program coordinator. “Despite the remarkable progress of the BEST Lab, we lacked a pre-acceleration experience for our student entrepreneurs that would allow our potential student founders to launch businesses in this competitive market in complete privacy. With HBCUFI, we now have it. “
While HBCUFI programming is open to students and alumni of the more than 100 HBCUs nationwide, the decision to develop direct partnerships with HBCUs allows HBCUFI to further connect to the HBCU campus ecosystem and host in-person entrepreneurship programs with partner institutions.
“We are thrilled to have 5 more HBCUs join us in fulfilling our mission to ensure innovative ideas don’t die on the vine because there is no one available to nurture them,” said HBCUFI President , marlon evans. “By providing a structured program that connects our participants with executives and entrepreneurs with deep experience in building businesses, coupled with access to pre-seed funding, HBCUFI helps build an unprecedented ecosystem of innovation. on HBCU campuses.”
The support of organizations committed to diversity and inclusion has been central to the success of HBCUFI. Organizations supporting HBCUFI for its third year include UNCF, AARP, main foundation, Blackstone Launcher, UNC Eshelman Institute for Innovation, Costco, Bargain hunting, Vista Corp., Cooleyand the Techstars Foundation.
“Working with HBCUFI has proven to be very beneficial to our organization,” Martin Booker, the program manager for financial resilience programming told AARP. “It has provided us with a valuable opportunity to bring our staff together, foster connections with HBCU’s founding students, and allow us to provide mentorship opportunities. The program not only brings enjoyment, but also serves as a source of inspiration, witnessed by many motivated students actively starting their own business.”
For the program, each of the 12 partner HBCUs will host two eight-week pre-accelerators (one in the fall and one in the spring) to support up to eight startups per cohort; which are all made up of early-stage founders who are past the ideation stage and are ready to validate a problem and create an MVP.
Each pre-accelerator program will cover topics such as idea validation, prototype building, customer discovery, marketing and branding, legal operations and fundraising and will be showcased at weekly virtual cohort sessions with on-campus activities also planned. The program will conclude with a pitch competition where entrants will be eligible to receive non-dilutive program prizes in support of MVP development.
Applications for the Fall 2023 Pre-Accelerator Program will open on 1st of July and will close on August 6.
For more information and to apply, go to: https://www.hbcufi.org/pre-accelerator
Media Contact
Maggie Hoffman
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About the HBCU Founders Initiative
Launched by Next cubeThe HBCU Founders Initiative (HBCUFI) aims to catalyze investment in African Americans by supporting HBCU students and alumni throughout their entrepreneurial journey, encouraging them to pursue technology solutions that bridge the racial wealth gap ranging from increased access to health care, education and financial services.
From the ideation phase to the investment phase and beyond, HBCUFI offers programs (accelerators, hackathons, industry webinars and pitch competitions), financial and technical resources, as well as an extensive network of advisors committed to supporting HBCU founders who pursue entrepreneurship.
To date, more than 750 students and alumni from more than 80 HBCUs have participated in the HBCU Founders Initiative. Participants in our programming have raised more than $2 million for their startups, positioning them to create jobs in their community.
SOURCE HBCU Founders Initiative
