Six ECOSYSTEM grant recipients awarded $50,000 grants to boost Black entrepreneurship in North Carolina
Durham, North Carolina, June 5, 2024–(BUSINESS WIRE)–NC IDEA, a private foundation supporting entrepreneurship and economic independence in North Carolina, in collaboration with the leadership of the North Carolina Black Entrepreneurs Council (NC BEC), announced today that the organization has awarded a total of $300,000 in NC BEC Ecosystem Grants to six partners across the state to implement innovative and transformative ideas that advance Black entrepreneurship.
Since its founding in 2020, the NC BEC has awarded more than $2.3 million in grants directly to Black entrepreneurs, entrepreneurial support organizations that support Black entrepreneurs, and Historically Black Colleges and Universities across North Carolina.
“In collaboration with the NC BEC, the announced grants provide critical resources and support that we have not been able to provide to Founders of Color before,” said Tom Ruhe, CEO and President of NC IDEA. “At a time when efforts to level the playing field are under attack, we stand firm in our values ​​of equitable economic development, and the data shows that doing so will reap greater economic benefits,” Ruhe concluded.
The six new NC BEC ECOSYSTEM grant recipients are:
“This grant is more than just financial support; it’s a beacon of hope and recognition for the work we do,” said Eric Lewis, executive director and CEO of NXT|CLT. “It represents confidence in our vision, the positive impact it will have on our community, and the potential it holds for our future,” Lewis added.
Grant recipients were selected after a rigorous application and selection process that received 135 applications from organizations across the state that are doing vital work that contributes to the entrepreneurship and economic potential of North Carolina’s Black community. Applications were accepted from North Carolina 501(c)(3) and for-profit organizations that offer services or programs specifically focused on helping Black entrepreneurs and growth-oriented Black-owned businesses launch and grow scalable businesses. All grants must be allocated to specific programs and activities that contribute to North Carolina’s Black entrepreneurial community.
About NC IDEA FOUNDATION
NC IDEA is an independent, private foundation whose mission is to help North Carolinians equitably realize their entrepreneurial potential. We support entrepreneurs who need it most through a powerful combination of competitive grants, programs and a network of strategic partners. NC IDEA’s resources are highly competitive, allowing the Foundation to support the most ambitious entrepreneurs in North Carolina. We believe entrepreneurs transform communities and see our work as a catalyst for positive change. For more information, visit www.ncidea.org.
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contact address
Andrea Cook, Director
919.941.5600 • acook@ncidea.org
