Success Story: HBCU’s work to create wealth, builds healthy and sustainable communities
February 2018 Newsletter
Historically Black Colleges and Universities have made extraordinary contributions to the general welfare and prosperity of the United States while producing many leaders in business, government, academia, and the military.
Through the implementation of the Executive Order Promoting Excellence and Innovation at HBCUs, President Trump hopes that these institutions will continue to serve as important engines of economic growth, public service, and intergenerational advancement.
EDA has worked closely with a number of HBCUs to help them develop and implement their plans to create economic opportunity and jobs in the communities they serve.
Since FY2012, EDA has invested close to $2.1 million in 15 projects to support HBCUs in planning, research, technical assistance, access to capital, and/or other activities that are essential for successful economic development and job creation in the future.
Today, for example, four HBCUs are serving as EDA University Centers, making the resources of these institutions available to the economic development community. These centers are located at: Fayetteville State University, Southern University A&M College, Delaware State University and Florida A&M University.
In addition, Florida A&M University’s Research Entrepreneurship and Commercialization Hub (FAMU REACH) was recently awarded the first EDA Regional Innovations Strategies program investment in an HBCU.
The $483,323 i6 Challenge award is being implemented to establish, strengthen, and connect technology proof of concept and commercialization programs, facilities and networks within the Tallahassee region.
The i6 Challenge is a leading national initiative designed to support the creation of centers for innovation and entrepreneurship that increase the rate at which innovations, ideas, intellectual property, and research are translated into products, services, viable companies, and, ultimately, jobs.