President Barack Obama announced the “My Brother’s Keeper” campaign on Feb. 27 at a White House event. Here are excerpts from his speech:

After months of conversation with a wide range of people, we’ve pulled together private philanthropies and businesses, mayors, state and local leaders, faith leaders, nonprofits, all who are committed to creating more pathways to success and we’re committed to building on what works. And we call it “My Brother’s Keeper.”

“My Brother’s Keeper” is not some new, big government program. In my State of the Union address, I outlined work that needs to be done for broad-base economic growth, the manufacturing hubs, infrastructure spending. But what we’re talking about here today … is a more focused effort on boys and young men of color who are having a particularly tough time.

And in this effort, government cannot play the only or even the primary role. We can help give every child access to quality preschool and help them start learning from an early age, but we can’t replace the power of a parent who’s reading to that child. We can reform our criminal justice system to ensure that it’s not infected with bias. But nothing keeps a young man out of trouble like a father who takes an active role in his son’s life.

In other words, broadening the horizons for our young men, giving them the tools that they need to succeed will require a sustained effort from all of us. Today I am pleased to announce that some of the most forward-thinking foundations in America are looking to invest at least $200 million over the next five years, on top of the $150 million they have already invested, to test which strategies are working for our kids and expand them in cities across the country.

Many of these folks have been on the front lines in this fight for a long time. And what’s more, they’re joined by business leaders, corporate leaders, entrepreneurs who are stepping forward to support this effort as well.

And my administration is doing its part. So, today, after my remarks are done, I’m going to pen this presidential memorandum directing the federal government not to spend more money, but to do things smarter, to determine what we can do right now to improve the odds for boys and young men of color and make sure our agencies are working more effectively with each other, with those businesses, with those philanthropies and with local communities to implement proven solutions.

And part of what makes this initiative so promising it that we actually know what works and we know when it works. What do I mean by that? Over the years, we have identified key moments in the life of a boy or a young man of color that will more often than not determine whether he succeeds or falls through the cracks.

We know this. We know the data. We know the statistics. And if we can focus on those key moments, those life-changing points in their lives, you can have a big impact, you can boost the odds for more of our kids.

It doesn’t take that much, but it takes more than we’re doing now. And that’s what “My Brother’s Keeper” is all about, helping more of our younger people to stay on track, providing the support they need to think more broadly about their future, building on what works, when it works, in those critical life-changing moments.

And when I say, by the way, building on what works, it means looking at the actual evidence of what works. There are a lot of programs out there that sound good, are well-intentioned, well-inspired, but they’re not actually having an impact.

We need to give every child, no matter what they look like, where they live, a chance to reach their full potential, because if we do, if we help these wonderful young men become better husbands and fathers and well-educated, hard-working citizens, then not only will they contribute to the growth and prosperity of this country, but they will pass the lessons on to their children, on to their grandchildren. We’ll start a different cycle. And this country will be richer and stronger for it for generations to come. So let’s get going.