Ford says it will support the first ever academic program to focus on black entrepreneurship at Clark Atlanta University, Spelman College and Morehouse College. In an exclusive interview with WSB Money Reporter Mike Kavanagh, George Frame, executive director of Dealer Development at Ford Motor says "This is a very exciting program, the first of its kind. The program will focus on the success forged by Babson College in Massachusetts. Ford will help to export the programs at Babson by aiding the exchange of faculty between Babson and the Atlanta schools and helping the schools to develop innovative courses teaching young African-Americans how to successfully run their own businesses."

Ford says part of its role is financial, but the company is also interested in lending its name to create interest among students at the schools. With this in mind, Ford has been joined in the effort by a successful entrepreneur - Magic Johnson. Frame says supporting black entrepreneurship is not only the right thing to do, it makes good business sense for Ford. "When we create opportunities for entrepreneurs, they seize those opportunities and bring wealth back to the community. As that wealth is spread around the community, they support us by buying Ford cars and trucks - so that's a win situation for all involved."

In a statement issued by the corporation, Ford says it has a strong track record in creating opportunities for black entrepreneurs, and in turn, helping to address the wealth gap of the black community. Ford says evidence of that can be found in its lead in the auto industry in the number of black auto dealers. Ford also says it purchase more goods and services from black companies than any other company in the industry, with $1.3 billion dollars in purchases in 2003.