John Hope Bryant, CEO of Bryant Ventures and Operation HOPE, has donated $1.8 million to support the entrepreneurial ambitions of 70 Albany State University (ASU) graduates.
Each recipient will receive $25,000 and extensive business resources to launch their ventures.
$1.8M Grant to Boost Black Entrepreneurship
The selected graduates will receive financial backing and also a “special forces team” offering tools like free domain names, Shopify accounts, and access to legal and financial experts.
““They get a free domain name that they own, a free website that they own, a free payment system set up that they own, a Shopify account for e-commerce, and all the banking support. The financial support and the payment systems are all free,” Bryant explained, according to WALB news.
“They get a free business plan and time with an attorney and an accountant. They will also get a business manager and an e-commerce executive.”
Bryant, who champions financial literacy as a new civil rights movement, believes this initiative can uncover untapped talent within communities.
“In every community, there’s a Steve Jobs. In every community, there’s an Oprah Winfrey. In every community, there’s a hero waiting to be born, but somebody’s got to pull that out of this community and shine a light on them,” he said.
Investing In The Next Generation
ASU Interim President Dr. Lawrence M. Drake II, who invited Bryant as the commencement speaker, spoke about the importance of such investments.
“John and I are good friends. We’ve known each other for a while. I also thought he could relate to the audience effectively he and I both share a journey that’s similar to many of those students that are sitting there today,” said Dr.Drake.
“So when we were looking for the kind of person that we wanted to ignite and be a person that our scholars would remember John certainly came to mind.”
Graduates hoping to qualify for the grant will go through an application process that considers GPA, business goals, and essays.
Feature Image Credit: ExCo
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