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"When RICE opened in 2019, the vision was clear: to create a thriving ecosystem where Black entrepreneurs could turn their dreams into successful businesses," Jay Bailey, president and CEO of the Russell Innovation Center for Entrepreneurs, says in a press release.
"Wells Fargo, as one of our inaugural partners, shared this vision from the very beginning, and their support has been instrumental in our journey."
That journey just got a lot easier thanks to a $1.5 million investment from Wells Fargo, the Atlanta Journal-Constitution reports.
The money will go toward small-business micro grants, the creation of a Learning Lab named after the bank, coaching, mentorship, digital content, and more.
"RICE's mission to inspire and empower Black entrepreneurs is more critical than ever, as these small businesses are among the fastest-growing in Atlanta and the economy overall," says Darlene Goins, head of philanthropy and community impact at Wells Fargo.
"This philanthropic investment is consistent with our unwavering commitment to advance economic equity, create opportunities for small business growth and drive positive change while we also honor Herman J.
Russell's enduring legacy."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
There is an estimated global climate investment gap of USD 6.1 trillion per year by 2030.Annual climate investments must increase fivefold to keep global temperature rises within 1.5 C by the end of...more
Daring Capital is an impact investing syndicate.Its mission is to invest in underrepresented founders building for-profit companies.These include individuals facing poverty, discrimination, or lack...more
The cultural festival organised by NAFEST had the various troupes in the country in participation, with the team from Anambra, in an amazing performance and cultural skills, emerging the most...more
The impact of climate change could drive fixed-asset losses of $560-610 billion per year across listed companies by 2035.The report aims to help business leaders recognise that the longevity of...more
In part one of a three-part article, Rick Heath examines why the Australian arts industry is not valued or invested in appropriately.The potential outcomes are so huge, says Heath.Has arts investment...more
Foundation: Venture Philanthropy Partners
Community-based organizations are one of the greatest levers for change, says Gretchen Van der Veer, CEO of Fair Chance.Funders can play a critical role by making strategic investments in nonprofits,...more
'New Realities, New Opportunities': AVPN South Asia Summit 2024 Announces Major Cross-Sector Initiatives.AVPN is the largest network of social investors in Asia.The Summit focuses on addressing South...more
'Impact investing is not just for returns, diversification but also risk reduction,' says LeapFrog CEO.Impact investing is emerging as a lower-risk alternative to traditional private equity,...more
Malaysia-based Bintang Capital Partners officially launched its second fund, BCP Asia Fund II, with a target corpus of $100-150 million early this year.The firm was also looking to broaden its LP...more
Blue Earth announces $113m first close of private credit fund.Fund focuses on private credit investments across developed and emerging markets.Fund attracted a select group of investors, including...more
Social Entrepreneurship
Spotlight
Social Enterprise Shortlisted for First Citi Microentrepreneurship Awards
First Enterprise Business Agency (FEBA), a Nottingham-based business support organization, is a contender for two categories at the first Citi Microentrepreneurship Awards to be held this coming February.
