How Fisk University And The City Of Nashville Are Uplifting Local Businesses

As state and local governments work to spend their American Rescue Plan (ARP) funding in the most efficient and effective ways, Nashville Mayor John Cooper and Fisk University, a historically black college and university (HBCU), announced the launch of the Darrell S. Freeman Sr. Incubation and Innovation Center (Freeman Center). The innovative public-private partnership is funded by a $10 million grant from the $1.9 trillion federal American Rescue Plan, and aims to be an investment in long-term community empowerment that will uplift local businesses.

By investing some of the city’s ARP dollars into the Freeman Center, the hope is that the partnership will serve an an incubator for the next generation of entrepreneurs. Moreover, the partners’ expectation is that the investment will “establish a thriving economic pipeline that stimulates a perpetual stream of business growth and opportunities for residents and minorities throughout the community.”

The Freeman Center will be housed at Fisk University, which is located in North Nashville, an area that the city’s leaders have historically overlooked. Unlike the rest of Nashville, North Nashville has not benefitted from the city’s rapid growth. The Freeman Center, which has flexible working space for programming, will provide wrap around services and resources for students, faculty, and members of the community as they work to scale their businesses and test their ideas. Housing the Freeman Center at Fisk University is an opportunity for the city to support innovation and build wealth for all its residents.

As Nashville’s first public-private partnership with Fisk University, the goal of the project is to create a space for thinkers and innovators to build and scale their businesses. The focus of the incubator will be primarily on healthcare, STEM, and data sciences, but there are also plans to extend that focus and to offer resources to small business owners from all industries.

According to Mayor Cooper, “For too long, economic development in Nashville meant paying out-of-state corporations to bring jobs here, instead of creating and growing businesses by investing in local entrepreneurs. This project is an example of how we’re changing that.” He added, “By creating a space where emerging business owners can access resources, make connections to investors, take classes, and sharpen their skills – we’re investing in our residents. The incubation and innovation hub gives us the opportunity to invest directly in local entrepreneurs, while simultaneously providing the necessary tools and support to build Nashville’s economy and create the next generation of Nashville business leaders.”

An exciting aspect of the Nashville-Fisk partnership is that the Freeman Center is a resource for all Nashville’s emerging entrepreneurs, as well as an opportunity to bring residents from across the county to Fisk’s campus. Fisk University’s rich history is stitched into the fabric of Nashville. Founded shortly after the end of the Civil War in 1866, Fisk is the oldest institution of higher learning in the city. Of importance, Fisk students played a monumental role in the Civil Rights Movement. According to Mayor Cooper, “All throughout its history, Fisk has had an enormous role in Nashville’s story. Fisk University is a part of our core here in Nashville. And we believe that – done right – this incubator program will drive awareness and growth to Fisk in the present and grow Nashville’s appreciation for Fisk’s guiding hand in our past.”

Incubators are populated by curious and inquisitive entrepreneurs, free agents, programmers, designers, dreamers, angel investors, tinkerers, and venture capitalists. According to Jens Frederiksen, Executive Vice President at Fisk University, “Bringing these incredible thinkers and leaders to Fisk all in an effort – and in service of – driving change across our community marks the next stage in Nashville’s remarkable development.” He added, “Fisk University is known for its STEM and tech programs, and the university consistently attracts top talent nationwide. We see this incubator program as an extension of this work and we’re proud to be supporting such a powerful program of uniting great minds and innovators within the community to help jumpstart Nashville’s self-sustaining economy.”

From Frederiksen’s perspective, Fisk’s goal is to use the inspiration and progress advanced by some of the great leaders who have passed through the community – greats like Darrell Freeman, a first-generation, African American, self-made millionaire and entrepreneur who went on to start the tech company, Zycron Inc. According to Frederiksen, “We want the innovation incubator to be a breeding ground for like-minded individuals like Freeman, who will one day launch businesses and support neighborhood growth and development here in Nashville.”

This Freeman Center is a hub for students to get first-hand experience with entrepreneurship and everything it takes to build a successful business. The expectations of today’s students, many of whom are already entrepreneurs, include exposure and experiences that prepare them for a 21^st century economy. According to Fredericksen, “For entrepreneurs to work alongside brilliant students and faculty provides an unprecedented infusion of intellectual capital that is sure to further accelerate the upward trajectory of these businesses.”