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For the first time in its history The Wharton School of the University of Pennsylvania—one of the most prestigious business schools in the country—is teaming up with an HBCU in efforts to help strengthen its academic programs and foster diversity in the realm of business, the Philadelphia Tribune reported.

The institution announced that it will partner with the Earl G. Graves School of Business & Management at Morgan State University, one of the nation’s top historically Black colleges and universities, the news outlet writes. Through the partnership, the schools will collaborate on developing curriculums, sharing research and resources, and hosting conferences. The collaboration was designed as an avenue to empower the future leaders of tomorrow so that they are equipped to address local and global business issues.

“We are proud to collaborate with the Graves School at Morgan State University, one of the country’s leading HBCUs. Wharton and Graves share a vision for true collaboration and sharing of expertise on both our home campuses as well as globally,” Wharton’s dean Geoff Garrett told the news outlet. “I’m excited at the potential for this relationship to create numerous curricular and research learning opportunities for Wharton faculty, students and our entire community.”

Morgan State University President David Wilson echoed his sentiments stating that collaborative efforts like this are an integral part of the university’s growth. “This unique collaboration between an Ivy League institution and a historically Black college and/or university will serve as a blueprint, creating innovative educational opportunities for students and faculty, spurring academic research,” he said. According to the news outlet, The Graves School at Morgan State University produces the highest number of Black business students in the state of Maryland.

There have been many initiatives developed to further business programs at HBCUs. In March, Howard University announced the creation of a new Bloomberg Finance Lab which was backed by the school’s alumnus Wendell E. Mackey, CFA.

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