Exact Sciences donates $500k toward Black Business Hub construction
MADISON, Wis. (WMTV) - Exact Sciences is investing $500,000 into construction of the Urban League of Greater Madison’s Black Business Hub, the company announced Thursday.
Exact Sciences will lease space in the Hub, which will be located on the city’s south side, to connect with job seekers and other community organizations.
Chairman and CEO of Exact Sciences Kevin Conroy said the company can’t wait for the site to open.
“Few organizations are as consistent and persistent as the Urban League when it comes to improving lives and creating economic opportunity,” Conroy said. “The Hub will offer formal and informal programming, create new supply chain opportunities for area businesses, and give entrepreneurs a place to call home.”
The 4-story, 76,000-square foot center will offer office spaces, a rentable commercial kitchen and business assistance and mentoring programs to support the Black community and entrepreneurs of color.
Dr. Ruben Anthony, Urban League of Greater Madison president and CEO, said the hub will also provide funding sources underwritten by the Urban League to help businesses get their start.
“When starting out, businesses need access to capital and help getting things off the ground,” Anthony said. “The Black Business Accelerator Program is a fund of over $1 million to provide grants and loans to help populations that are historically under-represented within Madison’s entrepreneurial ecosystem.”
Crews are expected to begin construction on The Hub in the coming weeks.
Copyright 2021 WMTV. All rights reserved.