The HBCU Founders Initiative (HBCUFI) is taking bold steps to empower students and alumni from Historically Black Colleges and Universities (HBCUs) during a pivotal moment when innovation is vital to advancing economic progress.
This year, HBCUFI will launch a new strategic collaboration with Chase Bank and Sloane Stephens, a Grand Slam tennis champion turned entrepreneur. This newly announced partnership is designed to increase funding opportunities for Black founders, provide mentorship, and expand access to entrepreneurial resources.
Founded by Nex Cubed as a 501(c)(3) nonprofit organization, the HBCU Founders Initiative (HBCUFI) is dedicated to bridging the racial wealth gap by supporting Historically Black Colleges and Universities (HBCUs)-affiliated entrepreneurs through every phase of the startup process from initiation and product development to investment readiness.
Since its founding, HBCUFI has worked with students and alumni from more than 80 HBCUs worldwide. Over 1,400 founders have engaged with the organization’s programming, and
nearly 200 participants joined the initiative, its largest cohort to date. Collectively, these founders have raised over $2 million, demonstrating the power of community-supported innovation.
Building on this momentum is a newly announced year-long partnership with Chase Bank. Designed to elevate innovation across HBCU campuses, the collaboration includes a $150,000 investment commitment and a robust mentorship program featuring Chase employees.
The collaboration will expand HBCUFI’s flagship Pre-Accelerator program, establishing it as the nation’s largest HBCU-centered initiative supporting entrepreneurs. “We believe innovative ideas born on HBCU campuses deserve robust ecosystems,” said Marlon Evans, President of HBCUFI. “Partnering with Chase is both energizing and humbling. Their commitment signals a clear message to our founders: your vision matters, and the pathway to success should be accessible and well-resourced.”
The Pre-Accelerator program offers a holistic experience designed to equip aspiring HBCU entrepreneurs with essential startup tools. Participants receive guidance in developing a minimum viable product (MVP), constructing a compelling pitch deck, and refining their business strategy to meet real-world demands.
The program culminates in on-campus pitch competitions and a virtual Demo Day, where founders compete for nondilutive grant funding, allowing them to retain full ownership while scaling their ventures.
Chase’s involvement reflects the bank’s mission to promote economic opportunity and advance equity. This commitment aligns seamlessly with HBCUFI’s vision, reinforcing the value of collaborative investment. “Building deeper relationships with HBCU innovators is a natural extension of our mission to create an economy that works for all,” shared Lischele Adams, Vice President of Marketing at Chase. “We’re thrilled to support HBCUFI’s work and provide tools, insights, and mentorship that empower lasting, sustainable businesses.”
Most notably, Sloane Stephens has joined the collaboration, introduced by Chase as a prominent voice within the HBCUFI. Beyond her support, Stephens offers strategic mentorship and a legacy that resonates with aspiring founders across HBCU campuses.
Widely recognized for her athletic achievements, including her 2017 US Open victory and a career-high world ranking of No. 3, Stephens is also the visionary behind Doc & Glo, a clean body care brand centered on health and wellness. Her entrepreneurial journey, rooted in social advocacy and inspired by personal heritage, makes her an ideal ambassador for HBCUFI’s mission to empower and uplift Black innovators.
Joining Ben Walter, CEO of Chase for Business, on the iHeartMedia podcast The Unshakeables, Sloane Stephens shared her reflections on leadership, legacy, and the entrepreneurial journey. “As I build Doc & Glo, I’ve come to value the power of connection at every stage,” Stephens said. “Engaging with HBCUFI founders felt deeply personal. We weren’t just discussing ambitions—we were affirming a shared legacy of resilience and vision.”
Participants were moved by her presence. Many expressed feelings of inspiration, motivation, and admiration, particularly upon learning of her family’s connection to HBCUs. Her grandfather, known as “Doc,” studied medicine at Howard University, while her grandmother, “Glo,” was a dedicated advocate who served as President of the National Council of Negro Women.
In 2024, Stephens honored their legacy by establishing a $30,000 scholarship to support students at HBCUs pursuing health-related careers, extending their commitment to leadership, education, and Black excellence into a new generation.
A meaningful connection emerged between HBCUFI founders and Sloane Stephens, forged through the bridge between present-day innovation and personal history. Her story affirmed that entrepreneurship is more than the pursuit of profit; it’s about building pathways, honoring legacy, and uplifting others through community and purpose. “This collaboration illustrates a crucial truth,” Evans added. “Entrepreneurship in HBCU communities is not just about market disruption—it’s about legacy preservation, community uplift, and rewriting economic narratives.”
HBCUFI’s approach extends beyond business development; it champions community-centered innovation. Through collaborative programs like this, HBCUs continue to evolve as dynamic centers of learning and creativity. By engaging with mentors like Sloane Stephens and senior leaders from Chase, participants gain access to leadership models that reflect their identities and aspirations. Seeing mentors who share their backgrounds and values and fosters a possibility, validation, and belonging. Stephens expressed that “Building something great is never a solo journey. It’s a collective effort—rooted in community, fueled by vision, and guided by resilience.”
Looking ahead, HBCUFI is preparing to broaden its impact by expanding funding resources and tools, creating new pathways for alumni engagement, and strengthening its professional network of institutional partnerships. At the heart of this forward momentum is a goal: to cultivate a robust pipeline of Black founders who are equipped with the knowledge, mentorship, and financial support necessary for long-term success.
For Chase, this collaboration aligns with a larger commitment to advancing economic equity. By helping historically underserved communities access entrepreneurial resources, the bank plays a pivotal role in reshaping the financial landscape, which supports generational wealth-building and expands pathways to opportunity. Sloane Stephens, with a mission rooted in honoring her community and family legacy, exemplifies a model of leadership that is both empowering and enduring. Her presence in this initiative deepens its impact, reminding young founders that vision and service exist. Together, HBCUFI, Chase, and Stephens are rewriting the script, transforming HBCU campuses into accelerators of purpose-driven entrepreneurship. Their collaboration is proof that when legacy meets innovation, the result isn’t just progress, it’s systemic change.
