In collaboration with MIT Solve, Truist
Foundation will provide more than $1
million in grants and in-kind services to nonprofits
supporting career navigation and workforce development
CHARLOTTE, N.C., Sept. 23,
2024 /PRNewswire/ -- Truist Foundation today
announced the launch of its third Inspire Awards, a
capacity-building grant program for nonprofit organizations, to
help create career pathways to economic mobility for workers across
the U.S. This year's challenge aims to improve resources for adults
seeking reskilling, upskilling and career transitions to uplift
themselves and their families.
The Inspire Awards Challenge is hosted in collaboration with
Solve—an initiative of the Massachusetts
Institute of Technology (MIT),
whose mission is to find and scale innovative solutions to
global problems. From now until Jan. 8,
2025, qualifying nonprofits can submit applications through
MIT Solve that answer the question: How are nonprofits
providing innovative solutions for reskilling, upskilling, and
career navigation needs of adults who are in the middle or late
stages of their careers?
"Workers who are later in their careers face unique challenges
and lack the support that recent college graduates often
receive—particularly those who are unemployed or underemployed,"
said Lynette Bell, president of
Truist Foundation. "Through our ongoing collaboration with MIT
Solve, we look forward to amplifying the deep expertise of the
nonprofit community to help empower workers, ultimately, fostering
economic mobility and inspiring personal growth."
Truist Foundation and MIT Solve will conduct a six-month support
and development program for a cohort of six nonprofit finalists to
help transform their groundbreaking ideas into tangible solutions.
The program includes a comprehensive needs assessment, learning and
development modules to help refine business plans, access to a
network of resource partners and coaches, and more leading up to a
live finale event.
At the conclusion of the support program, the finalists will be
invited to a live pitch event and ceremony where they will showcase
their solutions. The first-place nonprofit will receive a
$250,000 grant to help actualize
their project, while a $150,000 grant
goes to second place, a $25,000 grant
is given to each of the runner-up teams, and the audience favorite
award earns one finalist an additional $75,000—regardless of their status as a
runner-up, first-place, or second-place award winner. Plus,
finalists are invited to a two-day Truist Leadership Institute
Retreat and the annual flagship Solve at MIT event, held in May each year.
"We are pleased to support the Inspire Awards for a third year
alongside longtime Solve champion, Truist Foundation," said
Hala Hanna, executive director of
MIT Solve. "Truist Foundation is a shining example of how
organizations can take action and increase their commitment to
solving pressing problems within their communities and the
world."
During the 2024 Truist Foundation Inspire Awards, more than 100
nonprofits submitted solutions addressing how innovative technology
could support undercapitalized entrepreneurs. Centro Community
Partners was named the top recipient of the second Inspire
Awards. Their $250,000 grant is
helping provide an AI-generated journey through a virtual hub of
resources for low- to moderate-income entrepreneurs.
"We were honored to be named the 2024 Truist Foundation Inspire
Award winner," said Arturo Noriega,
founder and chief executive officer of Centro Community Partners.
"This recognition strengthens our ability to scale our mission and
impact by building emerging technologies to deliver
transformational resources for low- to moderate-income
entrepreneurs in underserved communities. With Truist Foundation's
support, we are more committed than ever to turning the dreams of
undercapitalized entrepreneurs into realities and uplifting entire
communities."
To learn more or apply, click here.
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's
(NYSE: TFC) purpose to inspire and build better lives and
communities. The Foundation, an endowed private foundation
established in 2020 whose operating budget is independent of Truist
Financial Corporation, makes strategic investments in a wide
variety of nonprofit organizations centered around two focus areas:
building career pathways to economic mobility and strengthening
small businesses to ensure all communities have an equal
opportunity to thrive. Embodying these focus areas are the
Foundation's leading initiatives – the Inspire Awards and Where It
Starts. Learn more at Truist.com/Foundation.
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SOURCE Truist Foundation