Bank of America Expands the Bank of America Institute for Women's Entrepreneurship at Cornell
As part of Bank of America's $1 billion, four-year commitment to advance racial equality and economic opportunity, today - Women's Entrepreneurship Day - the company announced a further expansion of the Bank of America Institute for Women's Entrepreneurship at Cornell. Due to the program's success, Bank of America will add 30,000 seats - bringing the total enrollment of small business owners to 50,000 - and will work with Cornell to develop a Spanish language curriculum and hire Spanish-speaking teaching assistants to more effectively support Hispanic-Latino entrepreneurs.
The Bank of America Institute for Women's Entrepreneurship at Cornell is the only Ivy League program offering a certificate in women's entrepreneurship, and at no cost. Since its launch in 2018, the institute has enrolled more than 20,000 individuals, primarily women, of whom 86% identify as women of color. Registration is open to anyone worldwide, regardless of gender, educational background or business stage.
As part of the program expansion, Bank of America will partner with several nonprofits, including the National Urban League, U.S. Hispanic Chamber of Commerce, the National Association for Latino Community Asset Builders and Prospera, to create more enrollment opportunities for Black and Hispanic-Latino entrepreneurs.
The challenges that women entrepreneurs face have multiplied over recent months. According to a recent McKinsey study, while women made up 46% of U.S. employment pre-coronavirus, they account for 54% of overall job losses year to date - with women of color the hardest hit.
"With women bearing much of the economic brunt of the pandemic - and particularly women of color - our further investment in the Bank of America Institute for Women's Entrepreneurship at Cornell has never felt more important," said Anne Finucane, vice chairman at Bank of America. "Amid the unforeseen challenges and events this year, we must continue to invest in women entrepreneurs to drive economic growth, because when women-owned businesses thrive, our communities flourish."
"We at Cornell are extremely proud of the impact the Bank of America Institute for Women's Entrepreneurship is having on aspiring entrepreneurs," said Martha E. Pollack, president of Cornell University. "The institute builds on Cornell's commitment to the public good and on the strength of our faculty in providing practical, focused, accessible education."
Through coursework that draws on curricula from across Cornell's schools, the instructor-led classes and limited class size provide women the opportunity to learn new skills, connect with a vibrant network of entrepreneurs and social innovators, and access the resources they need to manage and scale a successful business. These courses include Creating Your Venture; Laying the Legal Building Blocks; Assessing and Obtaining Financial Resources; Growth Leadership for Women Entrepreneurs; Product Development and Digital Marketing; and Communication, Negotiation and Persuasiveness.
Investing in women
Bank of America's investment in women as they make meaningful contributions within the company and in communities around the world includes a focus on being a gret place to work for its female employees, improving the financial lives of female clients, and advancing women's economic empowerment worldwide. The company has several long-standing partnerships, through which it has helped more than 30,000 women from 85 countries grow their businesses, including:
Recent Bank of America announcements focused on racial equality, diversity and inclusion, and economic opportunity include:
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