DURHAM, NC – December 16, 2022 – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, alongside the leadership of the North Carolina Black Entrepreneurship Council (NC BEC), announced today the intention to award a total of $750,000 in grants to serve the entrepreneurial ambitions of five of the State’s accredited Historically Black Colleges and Universities.
“Under the leadership of the NC Black Entrepreneurship Council, our call to fund the entrepreneurial
aspirations of North Carolina’s HBCUs affirms NC IDEA’s ambition to expand equitable economic
empowerment with entrepreneurship,” said Thom Ruhe, CEO and President of NC IDEA. “Equitable
entrepreneurship is vital to our economic recovery. Partnering with these five institutions creates greater
opportunities for access, exposure and networks for our state’s historically underserved population,” Ruhe
added.
The five accredited HBCUs receiving grants include:
• Elizabeth City State University – Elizabeth City, NC
• Fayetteville State University – Fayetteville, NC
• North Carolina Central University – Durham, NC
• Shaw University – Raleigh, NC
• Winston–Salem State University – Winston–Salem, NC
The grant recipients were chosen from a competitive process that invited the State’s accredited HBCUs to
submit proposals supporting the entrepreneurial potential of students, faculty, alums, and the communities
they serve. With this effort, the HBCUs identified the positions, programs, grants, or services they have
determined to be the greatest need in serving entrepreneurial ambitions and success.
“These grants will help to strengthen North Carolina HBCUs ecosystems,” said Terik Tidwell, Director of
Inclusive Innovation at VentureWell and member of the Executive Committee of the NC BEC. “The Council
looks forward to supporting entrepreneurship and innovation on the campuses of these exceptional
institutions,” Tidwell added.
The NC BEC was formed in the Fall of 2020 to lead NC IDEA in its programmatic and grant–making ambitions to
address the challenges of Black entrepreneurship in North Carolina. Only two years after its formation, the
Council has now deployed more than $2 million in grants to organizations, institutions, and companies, to
serve the entrepreneurial aspirations and economic potential of North Carolina’s Black community.
About NC IDEA FOUNDATION
NC IDEA is an independent private foundation committed to empowering North Carolinians to achieve their
entrepreneurial potential. Through our powerful combination of competitive grants and programs, and a
network of strategic partners, we help entrepreneurs when they need it most. NC IDEA’s resources are highly
competitive, enabling the foundation to support North Carolina’s most ambitious entrepreneurs. We believe
entrepreneurs transform communities and view our work as a catalyst for positive change. Learn more at
www.ncidea.org.
This content was originally published here.
