The United Negro College Fund (UNCF) announced Wednesday that it will expand its UNCF/Koch Scholars Program, which aims to provide more educational opportunities for African-American students in the areas of entrepreneurship, innovation and economics.
The program prepares students for the workforce by offering them scholarships, mentorship and academic support. Participants focus on how their entrepreneurial ideas can improve their local community and society. In addition, students are able to network and receive training at the program’s annual summit.
Since its establishment, the program has provided scholarships, faculty mentorship and experiential learning opportunities to 376 students at 95 colleges. The program originated in 2014 with 44 students. With a $10-million grant from the Charles Koch Foundation, the program will be able to support more than 500 students.
“I believe deeply in what we do to provide educational opportunities to deserving students, which is an incredibly crucial element to realizing their potential and the impact they can have in their own lives and the lives of those around them,” said Dr. Michael Lomax, president and CEO of UNCF. “We are thrilled to continue our partnership with the Charles Koch Foundation to provide even more opportunities to students striving to be the change they want to see in the world.”