Celebrating Black Entrepreneurial Excellence: A Glimpse into Spelman's Center for Entrepreneurship with Dr. Grant Warner
32m | Feb 21, 2024The entrepreneurial landscape in the United States is rich with talent and innovation, evidenced by the nearly 3.6 million Black-owned businesses, as reported by the U.S. Census Bureau. These enterprises, which employ around 1.3 million individuals across 4% of these businesses, are a vibrant testament to the resilience, inventiveness, and entrepreneurial drive within Black communities nationwide.
Yet, despite their notable impact, Black entrepreneurs face persistent challenges, including limited access to capital, educational resources, networking, and mentorship. These barriers have historically hindered the full realization of their entrepreneurial ambitions.
In today's discussion, we're delighted to have Dr. Grant Warner, who serves as the Bank of America Endowed Professor of Entrepreneurship and the Director of the Center for Black Entrepreneurship at Spelman College.
Dr. Warner is at the forefront of a transformative movement with the Center, championing innovative solutions to empower Black entrepreneurs. Under his guidance, the Center is breaking new ground by equipping aspiring Black business leaders with the essential tools, resources, and support network needed to excel in the ever-competitive business arena.
In This Episode:
[02:03] The Center for Black Entrepreneurship is a partnership between Spelman, Morehouse, and The Black Economic Alliance with a mission to unlock Black entrepreneurial talent.
[02:43] Support will provide benefits for aspiring entrepreneurs and practicing entrepreneurs. There will be scholarships, support, and funding opportunities.
[04:14] There will also be mentorships that supply access to founders along with ecosystem development including engaging with university fellows from all over the world. They are also bringing VCs to campus. The goal is to introduce students and stakeholders to the larger ecosystem.
[05:54] Another pillar is education. They want to share their experience and knowledge at the intersection of race and entrepreneurship.
[06:30] On the pathway side, it's about deepening relationships with startups and funders. This includes the Entrepreneur Leadership Consulting program.
[08:07] The Center was established on Morehouse and Spelman which already had a dynamic entrepreneurship environment.
[09:25] There is a rich diversity within the HBCU experience. The strength of an HBCU is the idea of a safe space. It's an environment for people to explore their interests without feeling judged.
[11:48] Bridging the gap between black entrepreneurship and investors.
[15:06] There was an increase in entrepreneurship during the pandemic that correlated with stimulus money. There's a lot of entrepreneurial potential that gets unlocked when there's access to capital.
[16:02] How the Center for Black Entrepreneurship instills intangible qualities necessary for entrepreneurial success. There's a mindset course that speaks to resilience, adaptability, and problem solving. They also ground in the knowledge of how black people have faced adversity.
[17:14] They also focus on the core frameworks that are popular in entrepreneurship.
[18:42] Dr Warner talks about how programs like the European Innovation Academy broadens perspectives and contributes to the holistic development of these entrepreneurial ecosystems.
[21:14] Luck is when preparation meets opportunity, and the more people you know, the better chance you have.
[22:03] Dr Warner talks about a certificate program that is targeted at adult learners and people looking to explore entrepreneurship.
[23:43] Success stories include the changes that are made with individual students as they prepare for their careers. The CBE has opened up interest and passion about entrepreneurship.
[27:08] Future hopes of the impact of the CBE include an example of how HCBUs can help transform the community around them and inspire economic change without gentrification.
Resources:
CBE Center for Black Entrepreneurship
Grant Warner, Ph.D. Named Inaugural Director of the Center for Black Entrepreneurship
Center for Black Entrepreneurship Spelman
Dr. Tiffany Rogers Bussey LinkedIn
