Walmart is helping black entrepreneurs succeed by providing resources nationwide.

The Russell Innovation Center for Entrepreneurs (RICE) is proud to announce a groundbreaking $800,000 grant from Walmart, facilitated through the Walmart.org Center for Racial Equity. This generous donation not only bolsters economic opportunities for Black entrepreneurs in Atlanta, but also across the nation.

Monique Carswell, Director of Walmart.org Center for Racial Equity, expressed her enthusiasm about the collaboration via email. She said: “The Walmart.org Center for Racial Equity supports initiatives that address the wealth gap. This grant will help RICE invest in historically disadvantaged businesses, creating a more equitable entrepreneurial ecosystem.”

This grant will go towards the recently launched PayPal Retail Academy, a program that educates entrepreneurs on the ins and outs of starting and expanding a retail business. To mark this momentous occasion, Walmart presented the grant at a special event held at the RICE headquarters in Atlanta on October 2nd.

The event included a panel discussion, mentorship sessions, and entertainment, all of which celebrated the vibrant entrepreneurial spirit of Atlanta. Another unique feature of the event was Walmart’s “Made Local” trailer tour, which showcased the company’s $350 billion commitment to U.S. manufacturing over the past decade. This initiative gives small business owners the chance to pitch products for sale on Walmart or Sam’s Club shelves and Walmart.com.

Jay Bailey, CEO of RICE, said: “The ripple effect of this grant is what it’s all about. We are looking at companies doing better, creating better products, gaining distribution, creating jobs, and increasing wealth. The partnership is specifically about developing a world class platform to grow businesses in the retail space, and in this case, consumer products.”

This collaboration is a powerful symbol of Walmart’s and RICE’s commitment to promoting equitable economic mobility and shaping the future of Black entrepreneurship. Mark Espinoza, Senior Director of Walmart Public Affairs, expressed his enthusiasm for the partnership: “We believe the next generation of great products that deserve to be on our shelves come from the innovative entrepreneurs and small businesses in our own communities. Open Call, as well as our collaboration with RICE, are symbols of Walmart’s deep commitment to fostering supplier diversity, inclusion, and strengthening U.S. manufacturing pipelines.”

This grant from Walmart and the Walmart.org Center for Racial Equity is a transformative move that promises to have a lasting impact on Black entrepreneurs. RICE and Walmart are proud to work together to create a more equitable entrepreneurial ecosystem for the nation.

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