Apple announced a new Reji project to support the entrepreneurship of people of color


Sina science and technology news on the evening of January 13, it is reported that Apple has just announced that it will invest $60 million in a new round of projects aimed at changing systemic racism, including venture capital funds to support entrepreneurs of color. It’s also Apple’s first venture capital fund.
Apple said it would work with Harlem capital, an early venture capital firm in New York, to invest $10 million in a fund aimed at funding 1000 companies over the next 20 years. In addition, Apple will invest $25 million in Williams shank’s clear vision impact fund. The fund mainly provides financing for small and medium-sized enterprises and focuses on minority companies. Apple will become a limited partner in both funds.
“There is a lack of diversity between venture capital and bank investors,” said Lisa Jackson, Apple’s vice president of environmental, policy and social programs. We hope that in this field, we can use our resources to do something useful. ”
In June last year, Apple announced the launch of a $100 million new project, the rapid equity and justice Initiative (Reji), in response to protests from all walks of life against systematic discrimination against blacks. The above-mentioned investment projects are part of Reji.
In addition, Apple will invest $25 million to build a 50000 square foot propeller center in Atlanta with the southern company and other community stakeholders. Here, historic black colleges and universities will collaborate on entrepreneurship, application development and other projects. Apple will set up two funding programs to help these black schools develop and design courses related to silicon and hardware engineering.
Apple also plans to set up an application development academy in Detroit. This is Apple’s first college in the United States. The college will offer free courses for 10-12 months and aims to teach 1000 students programming, design and marketing knowledge each year. The college in Detroit will work with Michigan State University.
“We want to see more African and Latino developers,” Lisa Jackson said She also pointed out that Apple has been working with black schools for a long time. “Most people tend to focus on the southeast of the United States,” she said. But there are more than 50000 small businesses in Detroit, owned by African Americans and Latinos. So, in our opinion, there are good entrepreneurial opportunities here. “