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Comcast NBCUniversal Grants $1M to RICE for Minority Entrepreneurs

"Minority Entrepreneurs"
“Minority Entrepreneurs”

The Russell Innovation Center for Entrepreneurs (RICE), an Atlanta-based nonprofit aiding the growth of African American entrepreneurs, recently secured a $1 million grant from Comcast NBCUniversal. This generous contribution aligns with the significant increase in financial support RICE has received recently from numerous large corporations, pushing their backing upwards of $3 million since summer.

Brittany Saadiq, RICE’s Vice President of Development, highlights RICE’s pivotal role in assisting corporate donors to achieve their commitments towards racial equity, a priority underscored by the ongoing dialogues on diversity following racially charged incidents in 2020.

Saadiq reiterates RICE’s alignment with its corporate donors’ aims to advance diversity and racial inclusion, particularly in emboldening minority entrepreneurs. This effort is a major aspect of RICE’s objectives.

Thanks in part to the generous contribution from Comcast NBCUniversal, RICE intends to implement a new series featuring influential business leader speakers to bolster Digital RICE. This online resource, focused on fuelling entrepreneurial learning for current members, is expected to widen its reach this summer.

RICE is set to develop a comprehensive research and data science initiative to monitor the impact of its programs on businesses. Having supported over 300 entrepreneurs to date, RICE is on a mission to extend its influence and support for 1,000 entrepreneurs by 2027.

Located in the previous headquarters of Black-owned H.J. Russell and Company, RICE plan further renovations to augment the capacity of the facility. The goal is to maintain the historical significance of the location while transitioning it to better serve as a productive workspace for black entrepreneurs.

Despite being roughly $2 million short of their goal, anticipation is high that the deficit will be covered by summer. The fulfillment of this fundraising target will enable RICE to provide a 60,000 to 70,000 square foot space for hopeful entrepreneurs to reach their potential.

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