October 21, 2021

Howard University Gets A $16.8M Grant From PNC To Support Black Start-Up Founders

PNC Financial Services Group Inc.’s charitable foundation has announced a five-year $16.8 million grant to Howard University to build The Howard University and PNC National Center for Entrepreneurship.

The center will support expanded opportunities for Black entrepreneurship with enhanced educational, leadership, and capacity-building resources and programs nationwide.

As a part of PNC’s wider commitment to providing over $1.5 billion in funds to create “economic empowerment” for Black Americans, this donation is just one of the financial institution’s countless plans to support the community.

It plans to provide $88 billion worth of investments, loans, and financial backing to several groups, including people of color and low and moderate-income communities.

Another goal of the center will be to help build Black small business capacity by leveraging partnerships with local chambers of commerce and other institutions to provide mentorship and networking opportunities.

In a statement, Anthony Wilbon, dean of Howard’s business school, said: “This is a huge investment by PNC, and it’s going to have a tremendous impact on addressing Black wealth and Black businesses.”

Wayne A. I. Frederick, president of Howard University, added: “The center will be an effective champion of interdisciplinary entrepreneurship education and entrepreneurial development within the African-American community.

“I am grateful to Anthony Wilbon, dean of the Howard University School of Business, as well as to Barron H. Harvey, dean emeritus of the School of Business, for helping bring this idea to fruition. It was truly their vision and leadership that forged this partnership and will enhance entrepreneurial opportunities for aspiring Black business leaders.”

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.

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