Beyoncé Pledges $2M To Entrepreneurs And Students On Renaissance Tour Route
Beyoncé’s philanthropic initiative, the BeyGOOD Foundation, is set to grant $2 million to entrepreneurs and students during her Renaissance World Tour.
Ten years after Beyoncé founded BeyGOOD during the Mrs Carter Show World Tour, the initiative working towards economic equity and education, is now the BeyGOOD Foundation, a 501(c)(3) public charity.
“I am hugely proud of the work we have done over a decade at BeyGOOD, here in the US and around the world,” Beyoncé said in a press release.
“From scholarships to the water crisis in Burundi, to helping families during Hurricane Harvey in my hometown, Houston, it has been beyond fulfilling to be of service. Now as a foundation, we will continue the work of engaging partners through innovative programs to impact even more people.”
$1M for entrepreneurs and small businesses
The foundation will continue Beyoncé’s Black Parade Route, with 100 entrepreneurs selected in each city to attend 5-star, inspirational afternoon luncheons.
Each luncheon provides entrepreneurs with networking opportunities and the potential to be a grant recipient from $100,000 funds allocated to each luncheon.
Moreover, the foundation will provide 1000 small businesses with grant opportunities and/or business sustainability support services totalling $1 million.
$1M for education
The foundation has also committed $1 million to support education through the Renaissance program. Through the Renaissance Scholarship Fund, 10 Colleges/Universities worldwide where 100 students will be the recipients of $10,000 scholarships.
In keeping with tradition, BeyGOOD will also visit local non-profit organizations along the tour route and deliver surprises to celebrate them for their commitment to service to humanity.
Local charities in every tour stop will also be gifted with tickets to attend the show.
“We believe that everyone has the right to economic equity. And we are keenly aware of the barriers to access, opportunity, and resources that disproportionately impact BIPOC communities,” said Ivy McGregor, BeyGOOD Foundation’s Executive Director, in a press release.
“Our work is rooted in the belief that education, pathways for employment and support of entrepreneurship are vehicles that help drive sustainable outcomes. As we celebrate a decade of good, it continues to be my great honor to lead the philanthropic vision of Mrs. Carter and to be hands and feet of hope and help for those in need globally.”