Walmart is giving a $800,000 grant to the Russell Innovation Center for Entrepreneurs (RICE), a nonprofit dedicated to developing, growing and scaling Black entrepreneurs, the retail giant announced Monday. The funding will bolster efforts to train business owners who produce consumer goods.
The announcement comes on the heels of another large corporate gift to RICE.
In August, PayPal donated $1 million to launch the PayPal Retail Academy, which is slated be an MBA-level of training in retail. Walmart’s one-year grant to RICE is part of the company’s 2020 commitment to contribute $100 million over five years for racial equity.