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Leaders in the innovation and technology space are stepping up to tackle staggering disparities for BIPOC and low-income communities by increasing the number of regional technology hubs, including current proposals in Congress to implement large-scale federal R&D funding for Midwestern and Southern metro centers. A recent Brookings webinar titled Leveraging Regional Tech Hubs to Advance Racial Equity discussed additional solutions to these disparities such as upscaling BIPOC talent and targeting companies to invest in their location’s talent base. From 2005 to 2017, five metro areas—Boston, San Francisco, San Jose, Seattle, and San Diego—contributed more than 90 percent of the U.S. innovation sector’s growth. ...

With higher ed institutions feeling the strain from the COVID-19 pandemic, what will happen to the students and talent in colleges and universities that are on the brink of closure? Will we see larger institutions conducting mergers and acquisitions to avoid bankruptcy?

A new McKinsey report highlights the racial disparities that affect Black workers and business owners. Wage and professional achievement gaps Forty-three percent of Black workers earn less than $30,000 per year when the median wage for U.S. workers is $42,000 per year. Closing the wage gap could bring 2 million Black Americans into the middle class for the first time and 1 million more Black workers into employment. Eighty-five percent of the wage gap can be found within five sectors: professional services, manufacturing, construction, trade/transportation/utilities, and financial services. More than half of Black workers are employed in healthcare, retail, accomodation, and food services. The report discusses the many barriers to ...

By Johnathan M. Holifield As an NAACP civil rights lawyer and advocate, Urban League chief executive, community development champion, education and government reformer, and regional innovation-based economic developer, my life experiences have crystallized into a single intention: to wage a “war of opportunity” for traditionally ill- and underserved Americans. Beginning in 2017, I had the honor to serve as executive director of the White House Initiative on Historically Black Colleges and Universities (HBCU Initiative). Since 1837, HBCUs have educated and prepared, primarily, but far from exclusively, African American students—nearly a quarter of HBCU students are non-Black—to contribute to the American ...

By Robin Gloss, IEDC intern The latest webinar in IEDC’s Take Action Against Racism in Economic Development series highlighted the important role that historically black colleges and universities (HBCUs) play in supporting their students and the communities where they are located. The webinar featured professors and administrators from four of the country’s 101 HBCUs. Most HBCUs were established between 1865 and 1900 with the goal of providing education to Black Americans who could not attend predominantly white institutions. These colleges and universities continue to provide unique educational opportunities for Black, low-income, and first-generation college students, and many are also working to expand and strengthen ...

IBM is embarking on a multiyear collaboration with historically black colleges and universities (HBCUs) to develop a diverse quantum computing workforce. The IBM-HBCU Quantum Center will provide a network of 13 schools with access to IBM quantum computers via the cloud, educational support for students learning open source software development, and funding for undergraduate and graduate research. Schools participating in the program include Clark Atlanta University, Howard University, Morehouse College, and Texas Southern University. In addition, IBM will be donating $100 million in technology and resources, including guest lectures, curriculum content, digital badges, software, and faculty training, to a separate cohort of HBCUs. "We ...

“Diversity is more than just a buzzword, it’s at the root of innovation and technological advancement,” says Dr. Gary May, chancellor of the University of California, Davis, and national commissioner of the Council on Competitiveness. “Without diversity we see design flaws and innovations that omit women and people of color.” May points to airbags designed for men and automatic faucets and soap dispensers designed to recognize lighter skin tones as examples of innovations without inclusion in mind. Other products that were historically designed without a diversity perspective include crayons, bandages, hair and beauty products, clothing, and eyeglasses. May emphasizes the need to grow diversity in the ...

The U.S. Department of Agriculture last month launched an initiative aimed at boosting economic development in rural and underserved communities through a combination of summits and workshops. The Centers of Community Prosperity will host training summits and capacity-building workshops to help communities engage in a bottom up, locally-driven process to address challenges in their region and foster wealth creation, the agency announced. The effort will convene stakeholders including local, state, federal, and tribal partners, land-grant universities, Hispanic-serving institutions, tribal colleges and universities, historically black colleges and universities, veterans, and youth organizations. The initiative builds on the agency’s ...