Bank Of America Announces $4.2 Million Commitment To Expand Tech Career Opportunities For Students Of Color
NPower and Urban Alliance will connect students of color to technical skills and jobs that align with BoA’s commitment to racial and economic equity. The alliance will ensure high school students get the technology skills to access entry-level jobs in tech or tech-adjacent fields.
The alliance will also support employers by developing diverse talent that can enter and succeed in entry-level pipelines that will lead to managerial positions.
“We recognize that early employment is critical to help young people build the skills, networks, and experience needed to break out of cycles of poverty and achieve long-term success,” Kerry Sullivan, President Bank of America Charitable Foundation said in a statement. “Bringing the collective expertise of Urban Alliance and NPower together further demonstrates our ability to be a catalyst for jobs in the communities we serve by preparing young people of color for upwardly mobile jobs in tech and tech-proximate career fields.”
According to Forbes, Black and Latinx students Black and Latinx students are often denied access to advanced STEM courses, particularly in racially diverse schools where they are not the majority. Additionally, more than half of U.S. school districts, and more than 90 percent of districts serving Black and Latinx students, reported difficulties recruiting and retaining certified STEM teachers.
NPower, a nonprofit committed to advancing race and gender in the tech industry through skills training, real world experience and mentorships, will provide 1,500+ Urban Alliance students with digital-literacy training and deeper technology certification over the next three years.
Urban Alliance will continue to build a diverse next-generation workforce by providing professional skills training, mentoring and 9-month paid internships of which 99% of students are from communities of color in their senior year of high school. Through the collaboration, Urban Alliance will expand its internship track for students entering college and its high school-to-career track for students preparing to enter the workforce straight out of high school.
“This kind of collaboration between nonprofits in the workforce development space is rare and much-needed if we are going to make real progress toward removing systemic barriers to economic opportunity for youth of color,” Elizabeth Lindsey, CEO of Urban Alliance said in a statement. “We’re grateful for Bank of America’s investment enabling Urban Alliance and NPower to advance digital equity and connect more diverse young talent to high-growth careers in tech.”
Last year, BoA allocated $300 million towards Black banks and Black small businesses. The multinational bank also collaborated with the Black Economic Alliance, and HBCUs Spelman College and Morehouse College to create the Center for Black Entrepreneurship.