NC IDEA and NC BEC Team Up to Fuel Black Entrepreneurship in North Carolina with $300,000 Grant
DURHAM, N.C. – (BUSINESS WIRE) – June 05, 2024 – In a move set to ignite economic empowerment within North Carolina’s Black community, NC IDEA, a private foundation renowned for its unwavering support of entrepreneurship, has partnered with the North Carolina Black Entrepreneurship Council (NC BEC) to award a total of $300,000 in ECOSYSTEM grants. These game-changing grants will be distributed amongst six deserving organizations, each playing a pivotal role in fostering Black-owned businesses across the state.
A Legacy of Empowerment
NC IDEA, a powerhouse in the realm of economic development, has consistently championed the growth of startups and innovative ventures that fuel North Carolina’s dynamic economy. Their collaborative endeavor with NC BEC, an organization deeply committed to amplifying Black entrepreneurship within the state, marks a powerful stride towards creating equitable opportunities for all.
Since its inception in two thousand and twenty, NC BEC has been laser-focused on nurturing the entrepreneurial spirit within North Carolina’s Black community. With over $two point three million in funding distributed to date, their impact resonates deeply with Black entrepreneurs, support organizations, and Historically Black Colleges and Universities (HBCUs) across the state. This latest initiative with NC IDEA amplifies their commitment to fostering an ecosystem where Black-owned businesses can thrive.
Leveling the Playing Field: A Grant with Far-Reaching Impact
The significance of these ECOSYSTEM grants extends far beyond their monetary value. They represent a resounding vote of confidence in the power of Black entrepreneurship and its potential to reshape North Carolina’s economic landscape.
“We, at NC IDEA, firmly believe that a thriving economy is an equitable one,” affirms Thom Ruhe, CEO of NC IDEA. “These grants are not just about funding; they’re about leveling the playing field and providing Black entrepreneurs with the resources and support they need to transform their visionary ideas into thriving businesses.”
For organizations like NXT | CLT, a recipient of the ECOSYSTEM grant, this funding is nothing short of transformative. “This grant isn’t just about the money, though that’s hella important, you feel me?” exclaims Eric Lewis, Executive Director of NXT | CLT, with a chuckle. “It’s a validation of the blood, sweat, and tears we pour into uplifting our community. It’s a beacon of hope, showing our entrepreneurs that their dreams are valid, their hustle is respected, and their time is now!”