AUSTIN, Texas — The Bank of America has granted Austin’s only HBCU, Huston-Tillotson University (HT), $150,000 for its Center for Entrepreneurship and Innovation Training Program.

CEI’s training program provides high quality economic development to existing small businesses. The program also helps invest in future entrepreneurs in the Austin area.

“The funds provided by Bank of America will enable the university to execute our vision of providing a platform for both current and aspiring entrepreneurs,” said Dean of HT’s School of Business and Technology, Dr. Rohan Thompson, in a statement.

This is the third grant that Bank of America has given to Huston-Tillotson University over the past three years. The university received a $100,000 grant back in 2020 to help establish the training center, as well as another $600,000 grant as part of their longstanding relationship. The $150,000 grant will go to the hiring of quality trainers and help the university training center purchase equipment to help launch a virtual venture capital lab.

“One of Austin’s unique characteristics is the prominence of its small business and entrepreneur community, which was hit hard during the pandemic,” said David Bader, President of Bank of America Austin. “Our partnership with Huston-Tillotson is an example of how organizations across the private, public and nonprofit sector must continue working together to drive positive change in Austin.”

The Center for Entrepreneurship and Innovation is housed in East Austin. Its mission is to increase the number of minority and women business owners in Texas, with a focus on Austin and surrounding areas.

You can find more information on the center here.