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John Hope Bryant Donates $1.8 Million to Support 70 Albany State University Entrepreneurs

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John Hope Bryant Donates $1.8 Million to Support 70 Albany State University Entrepreneurs

John Hope Bryant, the CEO and founder of Operation HOPE, made a significant announcement at Albany State University’s fall graduation, where he served as the commencement speaker.

John Hope revealed a $1.8 million donation aimed at supporting 70 graduates from the historically Black university who are aspiring entrepreneurs. This event took place on December 14 in Albany, Georgia.

Each of the 70 graduates will receive $25,000 to help start their businesses. In addition to the financial boost, they will be equipped with a suite of business tools including a free domain name, a personal website, a payment system, a Shopify account for e-commerce, and extensive banking support.

While Bryant is not an alumnus of Albany State, his philanthropic efforts are focused on increasing the presence of Black-owned businesses. He emphasized the potential within every community for great achievements, likening the unseen talent to figures like Steve Jobs and Oprah Winfrey.

“In every community, there’s a hero waiting to be born, but somebody’s got to pull that out of this community and shine a light on them,” Bryant stated during his speech.

The initiative extends beyond monetary support; recipients will also have access to a business manager, an e-commerce executive, and free consultations with both a lawyer and an accountant to ensure a robust foundation for their entrepreneurial ventures.

Historically Black Colleges and Universities (HBCUs) like Albany State play a pivotal role in nurturing Black entrepreneurs, a fact underscored by a 2022 McKinsey & Company report highlighted by Forbes.

The report suggests that HBCUs are well-positioned to train and support the next generation of Black business leaders, echoing the sentiment that fostering Black entrepreneurs can significantly impact their communities.

The selection criteria for the graduates who will receive this grant are still being finalized, with considerations like GPA, business goals, and an essay. Details are expected to be confirmed after the holiday break.

Dr. Lawrence M. Drake, II, interim president of Albany State, noted the personal connection and shared experiences between Bryant and the student body as key reasons for inviting him to speak.

Drake shared that there was a time when no one believed in him, underscoring the importance of support and belief in the potential of young entrepreneurs.

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