The African American Chamber of Commerce and Florida Technical College have announced that they will be offering a full scholarship to one fortunate individual in order to support black entrepreneurs. This marks the second time that these two organizations have collaborated to provide a scholarship for black business owners, following FTC’s appointment as a trustee of the African American Chamber of Commerce in 2020.
The recipient of the first scholarship was Eddy Duran, who is set to graduate with honors in 2024. Eddy utilized the scholarship to launch ArtCycle Kids, a program that uses cycling to teach children about teamwork. The President of the African American Chamber of Commerce, Tanisha Nunn-Gary, stated that there is a significant need for support for black-owned businesses and that the Black Opportunity Scholarship aims to give back to local black leaders by providing resources that may not have been offered otherwise.
The national statistics reveal that black-owned businesses make up only 3% of total firms nationwide despite blacks accounting for 12.4% of the adult population, highlighting the large disparity between the black population and the number of black business owners. The full-tuition scholarship is valued at up to $61,178 and will be awarded to an individual who aspires to establish a new business in the community.
The deadline for scholarship applications is February 12, 2024, and the recipient will be announced on February 22 at the Florida Technical College Orlando Campus. This scholarship initiative is a way for the organizations to contribute to the success of aspiring business owners and to support black entrepreneurs in their endeavors.