Apple’s $100 million initiative
- Apple has shared some major updates regarding its new set of projects as part of its work on the REJI initiative.
- The commitments build on Apple’s US$100 million pledge and include a first-of-its-kind education hub for HBCUs and an Apple Developer Academy in Detroit.
- The company said it expects roughly 1,000 students each year, while offering scholarships to 100 new students from underrepresented communities.
- Among other things, Apple will also invest $10 million with Harlem Capital, a New York City Venture Capital firm, with the aim of investing in 1,000 diverse companies and founders over the next 20 years. Read on for more details.
“We’re launching REJI’s latest initiatives with partners across a broad range of industries and backgrounds — from students to teachers, developers to entrepreneurs, and community organizers to justice advocates — working together to empower communities that have borne the brunt of racism and discrimination for far too long. We are honored to help bring this vision to bear, and to match our words and actions to the values of equity and inclusion we have always prized at Apple,” — Tim Cook, Apple
The company split the first round into three projects. One of them is a $25 million donation to the Propel Center, a learning hub for Historically Black Colleges and Universities (HBCUs). The company also announced that it is hoping to launch their Apple Developer Academy this year, to support student developers in Detroit, as well as venture capital funding for founders of color. This would be regardless of students’ academic background, or whether they have any previous coding experience, the company said.
“The firm will offer guidance and mentorship to students at the Detroit Developer Academy and participants in Apple’s Entrepreneur Camp for Black Founders and Developers. Apple will also support Harlem Capital’s internship program, focused on opening doors for aspiring women and minority investors,” - Apple
Apple will invest $10 million with Harlem Capital, a New York City Venture Capital firm, with the aim of investing in 1,000 diverse companies and founders over the next 20 years. In collaboration with Michigan State University, Apple said that its Academy will offer two programs: A 30-day introductory program, and a more intensive 10 - 12 month program that will help aspiring developers to start their own businesses. The company said it expects roughly 1,000 students each year, while offering scholarships to 100 new students from underrepresented communities.
Students will be able to follow different educational tracks focused on augmented reality, app development, artificial intelligence, agricultural technologies, entertainment, design, creative arts, social justice and entrepreneurship. Additionally, the company announced that they will even be providing internship opportunities to the students.
Further, the company announced an investment of $25 million in Siebert Williams Shank’s Clear Vision Impact Fund, which provides capital to small and medium sized businesses. The fund has an emphasis on minority-owned companies. Finally, Apple also announced a contribution to The King Center, a non-profit organization based in Atlanta, Georgia.
Tim Cook said his goal remains mostly the same as last years — which is "to do as much as I can to help other people and enrich their lives. That's Apple's goal," he said. "For the country, I hope that we enter a stage … where we're back to bipartisanship."
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Published to Apple Scoop on 14th January, 2021.
