"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."
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Social enterprise triumvirate from the Black Country were recognized as the main winners at the Social Enterprise West Midlands (SEWM)-backed event.