The Russell Innovation Center for Entrepreneurs (RICE) took another step to becoming the most complete place in the country for the growth of entrepreneurs with the opening of the Wells Fargo Learning Lab.
A $1.5 million grant to RICE made the state-of-the-art center possible. It will expand resources for Atlanta’s booming entrepreneur community.
The unveiling was attended by U.S. Rep Nikema Williams (5th-D), Fulton County Commission Chairman Robb Pitt, Michael Russell of the Russell Companies, several elected officials, and business and community leaders.
“Small businesses are the backbone of our communities—creating jobs, building generational wealth, and driving opportunity where it’s needed most. When Black businesses succeed, all businesses succeed, and our communities thrive. I commend Wells Fargo for investing in that vision, and the Russell Innovation Center for Entrepreneurs for continuing to be the model for how we uplift and scale Black entrepreneurship,” said Rep. Williams.
RICE is a model that should be used in other major cities, Williams added.
RICE President/CEO Jay Bailey noted that Wells Fargo was one of the first corporations to donate to RICE before its headquarters were even completed.
“This collaboration with Wells Fargo moves beyond philanthropy—it’s a strategic investment in the people building Atlanta’s future. The Learning Lab is where ideas turn into enterprises and potential becomes progress.” Bailey said. “This is Atlanta building its future from the ground up, and RICE is proud to be the foundation.”
Currently, RICE is assisting 64 small businesses, which are internally known as stakeholders, in the metro Atlanta area, Bailey said.
“The launch of the learning lab is another example of how Wells Fargo is making a meaningful impact on small business growth across the country,” said Tai Roberson, Community Relations Senior Manager for the Southeast at Wells Fargo. “Helping Atlanta entrepreneurs succeed strengthens the community and contributes to a thriving economy.”
Photo by Stan Washington/The Atlanta Voice
Twenty million dollars in small business grants from Wells Fargo were awarded last year in metro Atlanta, she added.
The lab is part of a multimillion-dollar renovation and expansion RICE has been undergoing this year. RICE is the largest institution of its type in the world helping small black and minority businessses. RICE is located in the former headquarters of the Herman J. Russell Companies south of Downtown Atlanta on Northside Drive.