Loyola University Maryland has established the Loyola Angels Fund, which is supporting the launch of a one-year interdisciplinary undergraduate learning opportunity that ultimately provides innovative students with an angel investing experience while serving as a fundraising vehicle for students. underfunded local entrepreneurs, especially Black-based Baltimore, Brown-owned and female-owned businesses. Loyola recently expanded its fundraising goal from $ 100,000 to $ 250,000 for the charitable fund.
New courses in the one-year program, offered by the Center for Innovation & Entrepreneurship (CI&E), will launch in the 2022-23 academic year, with the first investment recommendations to be made by student angel investors. in spring 2023. The Loyola Angels Fund will specifically provide capital for investments in Maryland businesses. The fundraising campaign, launched in the spring of 2020, has almost reached its initial goal of $ 100,000 and aims to raise the additional $ 150,000 by December 2021.
“I am proud to continue to support the growth and expansion of Loyola’s Inspirational Center for Innovation and Entrepreneurship through the new Loyola Angels Fund,” said Tim Frank, MBA, ’85, a donor founder of CI&E and Loyola Angels Fund. “The Loyola Angels Fund takes the Center for Innovation & Entrepreneurship to the next level by empowering our innovative students through hands-on experiences, while investing not only in local talent, but in the future of Baltimore. ”
“The new Loyola Angels program sets itself apart from classroom experiences across the country,” said Wendy Bolger, founding director of CI&E at Loyola. “We are proud that Loyola’s program takes a unique multidisciplinary coursework approach at the undergraduate level while addressing historic disparities in funding opportunities for women and entrepreneurs of color.”
Open to all students, the introductory fall course will be crossed between interdisciplinary minors in innovation and entrepreneurship and African and African-American studies. The course will focus on the history and experience of black women and entrepreneurs and on how angel investments can help create economic and social benefits for these entrepreneurs and their communities, especially the submitted red-marked communities. racist policies and systemic inequalities in wealth creation and access to capital.
Bill Romani, PT, Ph.D., entrepreneur in residence, and Raenita Fenner, Ph.D., associate professor of engineering and director of the minor in African and African American history, recently received a grant of 13,818 $ from American Jesuit Colleges and Deans of University Business Schools in sponsorship with the International Association of Jesuit Universities to create material for five video learning modules to support the creation of this revolutionary new course. “Stories, Background and Lived Experiences of the Black Entrepreneur” is in collaboration with the Office of Digital Teaching and Learning, Greycomm Studios, and Rev. Timothy Brown, SJ, Special Assistant for Mission Integration .
Students in the Fall Course can apply to take the Applied Angel Investing Course in the second semester. The class will teach students how to perform early stage business due diligence, the role of fulfillment in successful startups, and, in general, how the angel investing process works. By the end of the year, students will make investment recommendations of around $ 10,000 to $ 15,000 per company to Loyola Angels Fund managers, with any returns being fed back into the fund.
Both courses will be taught by an affiliated faculty member with industry expertise in investing and building social wealth.
“Loyola and our supporters want to use their capital to serve their values and be a transformative force in Baltimore and beyond,” said Brian Oakes, ’99, MBA, ’10, associate vice president of Advancement. “The Loyola Angels Fund is the perfect opportunity to embrace the University’s commitment to inspire our students to learn, innovate, lead and serve in a diverse and changing world.
If you would like to know how to contribute to the Loyola Angels Fund, please contact Kevin Kalis, Director of Development, at [email protected]
In the photo above, members of the 2020-2021 cohort of the Loyola Baltipreneurs accelerator, advisors and mentors at Terra Café in July 2021. Baltipreneurs will be among the Maryland companies eligible for the fund’s investments.