Morning Briefing – June 17, 2021

SECTOR NEWS

Apple $40 Million Dollar HBCU Scholarship Program Now Accepting  Applications!
Apple is awarding $5 million ‘Innovation Grants’ to 4 historically Black universities

Alabama A&M University, Howard University, Morgan State University, and Prairie View A&M University will get the grants, which are part of Apple’s broader $100 million Racial Equity and Justice Initiative, the tech giant launched in June 2020. 

The three-year grants are part of the iPhone maker’s New Silicon Initiative to help prepare students for careers in hardware technology and silicon chip design. Apple said the grants will support each university’s engineering school as well as help expand emerging hardware technologies coursework and expertise, particularly in computer architecture and silicon engineering. (USA Today)

Atlanta HBCUs get $90M to fuel diversity in financial field

Clark Atlanta UniversityMorehouse College and Spelman College – three that comprise the Atlanta University Center Consortium – will be the beneficiaries of this transformative and diversity-driven initiative led by Apollo Global Management, Inc., Ares Management Corporation and Oaktree Capital Management, L.P. and run by ALT Finance Corporation.

“As the world begins to cautiously re-open, the alternative finance industry will play a significant role in how economies recover and thrive,” said Mary Schmidt Campbell, President of Spelman. “The partnership with Spelman will provide our students with invaluable scholarships and resources that will give them a competitive edge on their road to successful careers and lives.” (University Business)

U.S. House Ag leader seeks permanent scholarship funding for 1890 land-grant colleges

Leaders from 1890 land-grant colleges laid out to the House Agriculture Committee Wednesday how a fresh infusion of scholarship funding provided by Congress has helped those historically Black institutions educate and train the next generation of agriculture workers.

Committee Chairman David Scott, (D-Ga.), said that their testimony would help members of the committee work to make the $80 million scholarship program permanent, rather than reauthorizing it through the farm bill every five years.

“We are moving to make this scholarship program permanent and in order to do that we want to make sure we have the evidence to present that,” said Scott, a graduate of one of the 1890 institutions, Florida A&M University. “I want to be able to get on the record, all of what this scholarship program means to each of you.” (Florida Phoenix)

Fisk University – US Civil Rights Trail
Fisk receives $3 Million gift from Cravath, Swaine & Moore LLP

Fisk University announced today one of the largest gifts in its 155-year history, a $3 million donation from Cravath, Swaine & Moore LLP. The gift will support infrastructural improvements to classroom and learning spaces, including Jubilee Hall, the oldest permanent structure on any historically black college and university (HBCU) campus.

“This $3 million donation from Cravath, Swaine & Moore is simply extraordinary,” said Fisk President Vann Newkirk. “This donation will support our continuing efforts to create the best possible learning environment for our outstanding and growing student body.” (Fisk University)

INDUSTRY NEWS