UE’s ACE³ Program Named Finalist in National Competition
Posted: Thursday, August 30, 2018
The University of Evansville’s Access to Capital and Expertise for Emerging Entrepreneurs (ACE³) program has been selected as a Pioneer (finalist) in the Unlocking ₵hange Challenge: Innovations for Financial Wellbeing, Resilience, and Freedom. This nationwide competition seeks to find and support leading social entrepreneurs and innovators across the country.
The ACE³ program was one of 10 finalists chosen out a group of 140 entries. The four Champions (winners) of the challenge will be announced on Oct 3. Each winner will receive $50,000 to support their programs.
Representatives of ACE³ will soon be going to New York to attend the Unlocking ¢hange Challenge event. While there, they will have the opportunity to network, participate in workshops, and discuss the Ace³ program, sponsored by Old National Bank.
The challenge is a collaboration between BNY Mellon, an American worldwide banking and financial services holding company, and Ashoka, the world’s largest group of social entrepreneurs and changemakers.
The University of Evansville was recently named a Changemaker Campus by Ashoka U, an Ashoka initiative. UE received the recognition due to its leadership in social innovation and changemaking in higher education. It’s one of 50 universities world-wide with this distinction and the first in Indiana.
The ACE³ program is sponsored, funded, and co-managed by Old National Bank and is located in the Schroeder School of Business’s Institute for Banking and Finance under the direction of Yasser Alhenawi, UE associate professor of finance. ACE³ manages a $100,000 portfolio, which offers microloans to women, minority, and disadvantaged owned businesses. Students interface with clients, review business plans, and serve as underwriters for loans.
“ACE³ gives students the opportunity to gain invaluable skills and real-world experience while making a positive impact in the community,” said Greg Rawski, Schroeder Family Dean.
The Schroeder School of Business is the nation’s fastest riser (+38 places) in the 2018 U.S. News & World Report Best Undergraduate Business Programs and is ranked Number 4 among small private business schools nationally.