By Brittany Bailer
Howard University and PNC National Center for Entrepreneurship announced its official launch yesterday, the pinnacle of Howard’s inaugural HU Entrepreneurship Week.
Established in 2021 with a five-year, $16.8 million grant from The PNC Foundation, The Howard University and PNC National Center for Entrepreneurship is aimed at building resources and support for Black business owners across the country. The National Center will support expanded opportunities for Black entrepreneurship with educational, leadership and capacity-building resources and programs nationwide.
Over the past several days, Howard has hosted panel discussions, networking events and a business pitch competition, with activities culminating today in the national launch of Howard University and PNC National Center for Entrepreneurship. The event, a celebration of the shared commitment to advancing Black entrepreneurship, brought together students, alumni, business experts, and aspiring entrepreneurs to network, strategize, and spark engagement across the community.
The keynote fireside chat included a moderated discussion between Howard University President Wayne A.I. Frederick, and T.D. Jakes, chairman and CEO of the T.D. Jakes Group. Jakes announced, “Good Soil,” a new initiative of T.D. Jakes Group, which will provide training, guidance, and funding to Black entrepreneurs around the world.
“HBCU’s are a hub for stimulating Black businesses. If we look at each HBCU as a potential economic hub, we have an opportunity to hire more minority-owned vendors and contractors,” Frederick said during the panel. “Howard now has a $1.25 billion business and about 42 percent participation of minority-owned businesses every year. Who we give our contracts to and who is participating in business on campus, is extremely important.”
Other prominent speakers included Nicholas Perkins (Fuddruckers owner and CEO), Askale Davis (TV personality and lifestyle content creator), Kayla Austin (current Howard student and 2022 Black Ambition HBCU Prize Winner), and Gary Rahman and his children Kali and Spirit (founders of Stock Up).
“The Howard University and PNC National Center for Entrepreneurship is focused on serving as a catalyst for economic opportunity for HBCU students, alums and Black entrepreneurs broadly,” said Erin Horne McKinney, national executive director for the Howard University and PNC National Center for Entrepreneurship. “Today’s lineup of events is reflective of that commitment as we galvanize to strategically support aspiring and active entrepreneurs and collectively strengthen our economy.”
“HBCUs are driving impactful change in entrepreneurship, education and economic development for Black businesses and the broader community, which directly aligns with PNC’s efforts to provide economic opportunity for all,” said Richard Bynum, chief corporate responsibility officer for PNC. “Through PNC’s partnership with Howard, we’re building extensive resources to enhance entrepreneurial opportunities for aspiring Black business leaders for the betterment of all the communities we serve.”
A regional roadshow will follow the National Center launch event beginning April 11 at Clark Atlanta University, April 13 at Texas Southern University and at Morgan State University on April 19. Alongside Howard, these HBCUs will partner and serve as regional hubs for the National Center. The nation’s network of more than 100 HBCUs and their communities will coordinate activities including education programs, research strategies and business outreach.
A major focus for the National Center and its regional partners is to create an innovative, national entrepreneurial network across HBCUs and Black entrepreneurial support organizations. This effort will expand access to entrepreneurship opportunities by engaging youth, HBCU students, and Black business owners in growing their enterprises, with a goal of increasing employment and generational wealth in Black communities. The partners will also come together for the inaugural Howard University and PNC National Center for Entrepreneurship National Conference in Washington, D.C. from June 14 to 16.
The PNC Foundation grant is part of PNC’s Community Benefits Plan that began Jan. 1, 2022. The plan will provide at least $88 billion in loans, investments, and other financial support to benefit low-and-moderate-income (LMI) individuals, communities, and people of color over a four-year period.
