Coca-Cola Partners with University of Notre Dame to Alleviate Poverty and Foster Entrepreneurship

Strategic Insights -

The University of Notre Dame's Urban Poverty and Business Initiative (UPBI) has received a $2.5 million gift from the Coca-Cola Company in North America to expand its network of partner organizations in the United States and Canada. This partnership aims to alleviate poverty and help low-income individuals launch and grow sustainable businesses, particularly in cities hosting the 2026 FIFA World Cup. The gift will enable UPBI to establish relationships with new key individuals and organizations in host cities, receive commitments from lead partners, and implement its model in 13 additional cities, including 11 in the United States and two in Canada.

Key Takeaways:

  • The Coca-Cola Company has awarded a $2.5 million gift to the University of Notre Dame's Urban Poverty and Business Initiative (UPBI) to expand its network of partner organizations in the United States and Canada.
  • The UPBI currently operates in 55 cities worldwide, serving over 3,000 business owners annually, and will expand to include 13 additional cities with the support of Coca-Cola.
  • The program will support at least 50 business owners annually in each new partner location, training and equipping another 2,400 entrepreneurs over three years.
  • The partnership will provide a turnkey training system of business skills and best practices to new partners, which can then be shared with small business owners in their own communities.
  • The UPBI employs an 11-month, six-stage intervention process that includes training, mentoring, consulting, networking events, microcredit financing, and a database to track progress in ventures over a three-year period.
  • The Coca-Cola Company's gift will enable Notre Dame to establish relationships with new key individuals and organizations in host cities, receive commitments from lead partners, and implement its model in the new cities.
  • The partnership will also enhance the UPBI's microgrant program by providing additional support to entrepreneurs in tournament host cities.
  • Notre Dame's McKenna Center seeks to better understand the critical role of global business in reducing poverty, underemployment, and inequality by fostering collaboration between the private sector, universities, nonprofit organizations, and governmental entities.
  • The UPBI's ideas are consistent with the University's strategic framework and Poverty Initiative, aiming to stimulate economic growth and develop markets in communities struggling with poverty.

Statistics:

  • The UPBI has received a $2.5 million gift from the Coca-Cola Company in North America to support its expansion.
  • The program currently serves over 3,000 business owners annually in 55 cities worldwide.
  • With the support of Coca-Cola, the UPBI will expand to 13 additional cities, including 11 in the United States and two in Canada.
  • The partnership will support at least 50 business owners annually in each new partner location.
  • The program will train and equip another 2,400 entrepreneurs over three years.
  • The UPBI employs an 11-month, six-stage intervention process to support entrepreneurs.
  • The partnership will enhance the UPBI's microgrant program by providing additional support to entrepreneurs in tournament host cities.

Sources:

  • University of Notre Dame: The Coca-Cola Company awards $2.5 million gift to Notre Dame's Urban Poverty and Business Initiative (UPBI)
  • The Coca-Cola Company: Our Partners and Programs - University of Notre Dame's Urban Poverty and Business Initiative (UPBI)
  • Forbes: Coca-Cola Partners With University Of Notre Dame To Alleviate Poverty And Foster Entrepreneurship