Back in June, Apple pledged to invest $100 million to promote racial equality and help dismantle systemic barriers faced by communities of color. Now the company is shedding some light on how that money will be spent exactly.
As part of its Racial Equity and Justice Initiative, the company recently announced that it will contribute $25 million to the Propel Center, an innovation and learning hub for Historically Black Colleges and Universities (HBCU). Students will be able to follow a variety of subjects including AI and machine learning, app development, augmented reality, design and creative arts, and entrepreneurship.
In addition, Apple promised it will open a “first of its kind” Apple Developer Academy in Detroit, which will aim to help inspire young Black people to be better creators, coders, and entrepreneurs. The program will be done in partnership with Michigan State University and available to anyone in Detroit, regardless of their background and experience.
On top of that, Apple’s support will also involve a $10 million investment in Harlem Capital, an early-stage VC firm, so that it can better support companies with diverse founders. Another $25 million will go to Siebert Williams Shank’s Clear Vision Impact Fund, which will focus its efforts on minority-owned small and medium-sized businesses.
