Apple invests in black entrepreneurs' projects to combat racism

Source: HW Upgrade added 17th Jan 2021

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An investment of 60 millions of dollars in favor of black entrepreneurs and a new venture capital firm aiming to finance 1,000 companies in 20 years.

by Rosario Grasso published , at 12: 01 in the Apple channel

Apple

Apple announced new investments for 60 millions of dollars addressed to challenge systemic racism . Among these, the first foray of the Cupertino company into venture capital financing in order to support black entrepreneurs . Reuters reported the news.

About 10 millions will be donated to the fund Harlem Capital , just established with headquarters in New York. The fund will aim to support a thousand new companies in the next 20 years. Others 25 millions will then be allocated to Clear Vision Impact Fund of Siebert Williams Shank , which grants loans to small and medium-sized enterprises.

With 25 million dollars Apple will also support the Propel Center in Atlanta , a campus that provides training and support for the future business activities of people of color. The iPhone company will launch two grant programs to help structure the curriculum in silicon engineering and hardware .

A Detroit , on the other hand, will contribute to the creation of an academy for app development . One thousand students will benefit from a free course with a duration ranging from 10 to 12 months addressed to programming, design and marketing. The Michigan State University will also collaborate on the project. “We tried to invest where we thought there was an opportunity to do good things” , Lisa Jackson , Apple’s vice president for the environment, policies and social initiatives.

This is a support plan that will provide overall 100 million dollars as Apple has made the last year following the brutal killings Breonna Taylor and ) George Floyd from which the wave of protests was born Black Lives Matter .

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