Russell Innovation Center Receives $2M Gift To Support Atlanta’s Black Entrepreneurs

The Arthur M. Blank Family Foundation donated $2 million to The Russell Innovation Center for Entrepreneurs (RICE) to further the organization’s mission to expand, scale, and develop Black entrepreneurs across Atlanta and beyond.

The Arthur M. Blank Family Foundation’s $2M Donation

The announcement was made during a fireside chat held at RICE, which featured Jay Bailey, President & CEO of RICE; Fay Twersky, President of the Arthur M. Blank Family Foundation; and Kacey Venning, a RICE stakeholder and nonprofit leader.

“The Arthur M. Blank Family Foundation’s belief in our mission is not only humbling, but also transformative,” said Jay Bailey, President & CEO of RICE, according to a press release. “This grant fuels more than just our building—it fuels dreams, innovation, and the ability for our entrepreneurs to grow thriving businesses that leave a legacy.”

RICE’s impact to date has been substantial. Its stakeholders have created hundreds of jobs, generated over $100 million in revenue, and driven $450 million in total economic activity, contributing to the region’s economic growth. Last March, RICE received a $2 million grant from the Truist Foundation and two Truist Trusted Foundations.

Expanding RICE 2.0

The $2 million grant will help expand RICE 2.0, a modernized space serving the community as a hub of innovation, collaboration, and economic empowerment. The space supports RICE’s vision by providing critical resources for Black entrepreneurs, including small business grants, expanded programming, and mentorship opportunities.

“RICE’s extraordinary work supporting entrepreneurs creates pathways to economic mobility and opportunity. By investing in entrepreneurs at all stages, we’re fostering collective thriving where individual success strengthens entire communities,” Fay Twersky, President of the Arthur M. Blank Family Foundation, adds.

Image: Russell Innovation Center for Entrepreneurs