The Russell Innovation Center for Entrepreneurs (RICE), a pivotal hub for Black entrepreneurs in Atlanta, announced a $2 million grant from Truist Foundation and two Truist Trusteed Foundations. RICE positions itself as Atlanta’s home for Black entrepreneurs and an economic mobility engine for the community. Its stakeholders have created hundreds of jobs, generated over $100 million in revenue, and spurred $450 million in total economic activity. This financial endorsement by Truist comes at a critical time. It is set to accelerate RICE’s expansion efforts and elevate the stature of Atlanta-based Black entrepreneurs within and
Black-owned tech accelerator Plug In Ventures has secured a new $1 million grant from the California Office of Small Business Advocate (CalOSBA). Plug In is the space for Black and Brown entrepreneurs and VCs to reimagine the innovation economy across the US and beyond. Founded by Derek Smith in 2014, the accelerator investing mentors and expands early-stage entrepreneurs. Since 2019, companies in his firm’s ecosystem have raised over $22 million in VC dollars from climate, sustainability, the creator economy, and athletic apparel. The Funding Plug In Ventures will receive $250,000 annually from CalOSBA over
The Indianapolis African Quality of Life Initiative (IAAQLI) has pledged to give $300,000 in grant support for Black people in tech. As a result of this funding, tech companies such as TechPoint, InnoPower, and Sagamore Institute are now seeking companies in Indiana to provide apprenticeships in tech to low-income Black adults. The IAAQLI is funded by a $100 Million Lilly Endowment, Inc. grant to build collaborations and partnerships to elevate the quality of life of African Americans in Indianapolis. According to Building Indiana Business, the two-year pilot apprenticeship program is
Thanks to a grant from Michael Jordan and Jordan Brand, Next Gen Personal Finance (NGPF) will provide high schoolers with access to life-changing personal finance education. The grant was made through Michael Jordan and Jordan Brand’s Black Community Commitment (BCC), an initiative committed to supporting businesses that commit to building racial equality, and social justice and providing students with greater access to education. The high school program will be modeled after NGPF’s highly successful Finance Equity and Empowerment (FEE) grant program, which NGPF first launched in 2020 to increase financial
