Tim Cook, Apple CEO, speaks during a special event at Apple Park’s corporate headquarters in a still image from a video captured on September 15, 2020 in Cupertino, California, United States.
Apple Inc. | Reuters
Apple on Wednesday announced its most recent major donations as part of its $ 100 million initiative to help break down systemic barriers and promote racial equality among people of color.
The company split the first round into three projects, including a $ 25 million donation to the Propel Center, a learning center for historically black colleges and universities. Apple Developer Academy is also being launched to support coding students in Detroit and fund venture capital for Black and Brown founders.
CEO Tim Cook announced the Racial Justice and Justice Initiative in June after George Floyd and Breonna Taylor were killed. Lisa Jackson, the company’s vice president for environmental, political and social initiatives, leads the program.
Many big tech companies announced hefty donations over the summer to help support racial equality, but Apple was among the largest and one of the few to start an initiative.
In addition to its work with the Propel Center, Apple will be making two grants to support HBCU engineering programs. The company will also offer scholarships to 100 new Apple Scholars from underrepresented communities.
The company expects to open its Detroit Apple Developer Academy later this year. In partnership with Michigan State University, Apple’s Academy will offer two programs: a 30-day introductory program and a more intensive 10- to 12-month program. The company expects around 1,000 students per year.
As part of its effort, Apple will invest $ 10 million in Harlem Capital, a fledgling VC company in New York City, to invest in 1,000 companies with a variety of founders over the next 20 years.
“The company will provide guidance and mentoring to Detroit Developer Academy students and Apple Entrepreneur Camp attendees for black founders and developers. Apple will also support Harlem Capital’s internship program, which is designed to open doors for emerging women and minority investors,” so the company said.
Apple added that the company will invest $ 25 million in Siebert Williams Shank’s Clear Vision Impact Fund, which provides capital to small and medium-sized businesses with a focus on minority companies.
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