Minority Business Development Agency Awards Nearly $2 Million to Historically Black Colleges and Universities

WASHINGTON, Dec. 12, 2018 /PRNewswire/ -- Today, the U.S. Department of Commerce's Minority Business Development Agency (MBDA), is announcing grant awards of nearly $2 million to four Historically Black Colleges and Universities (HBCUs). In June 2018, MBDA invited HBCUs to propose projects that will achieve one or more of the following objectives: increase their ability to compete for and receive Federal research and development funds; establish partnerships with Federal laboratories and other technology resources; increase Science, Technology, Engineering, and Mathematics (STEM) entrepreneurship; and compete for Federal contracts. 

"Historically Black Colleges and Universities served as the catalyst to creating the black middle class in America and will continue to be the incubator for minority business talent, innovation, and leadership. These important schools generate billions in economic impact annually and are engines for job creation in their local economies across the United States," said MBDA National Director Henry Childs II. "These grant awards will provide seed money for these institutions to pursue innovative projects and to build more revenue-generating infrastructures to better serve our nation's future entrepreneurs and workforce."

The HBCUs that received grant awards include:

• Clark Atlanta University ($499,497) to develop a STEM entrepreneurship curriculum that increases student interest in the innovation economy at three Atlanta University Center Consortium campuses.
• Howard University ($359,891) to design a technical support model for 11 HBCUs in the mid-Atlantic region to compete for Federal research and development funds and leverage partnerships with Federal laboratories.
• South Carolina State University ($404,992) to launch regional training sessions for HBCUs to compete for Federal research and development funds.
• Tougaloo College ($695,412) to establish a partnership among multiple HBCUs, private companies, federal labs, and research institutions to increase capacity for HBCUs to participate in federal research and contracting opportunities.

These programs are part of the 2018 MBDA Broad Agency Announcement, a new initiative this year. More than $13 million was awarded for 13 projects focused on Department of Commerce and MBDA priorities from resources that increase disaster preparedness and relief to programs that increase access to capital. For a full listing of MBDA's 2018 grant awards, visit www.mbda.gov/news.

About the Minority Business Development Agency (MBDA)
MBDA is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. For nearly 50 years, MBDA has been a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing greater access to capital, contracts, and markets. For more information about MBDA visit www.mbda.gov. 

Contact: Velicia D. Woods
Phone: (202) 482-0491
Email: [email protected] 
Website: www.mbda.gov 
Fax: (202) 482-5117   

SOURCE Minority Business Development Agency (MBDA)