On October 2, a festive atmosphere enveloped Northside Drive in Atlanta as Walmart announced a significant partnership with the Russell Innovative Center for Entrepreneurs (RICE). The collaboration aims to bolster the hundreds of Black businesses affiliated with the center. RICE’s CEO and President, Jay Bailey, sat down with rolling out to discuss the partnership’s implications.
What happened today at the center?
It was beautiful, man. We have Walmart in the building today, announcing our $800,000 grant to power up our ability to serve Black entrepreneurs who have consumer products. We want to help them become retail-ready and avoid common pitfalls. Our goal is to ensure they grow their companies with a deep understanding of what it takes to win.
So Walmart is helping out how many businesses here?
We have 360 businesses involved. We’re aiming for 1,000 within the next two and a half years. One of our commitments to our entrepreneurs is that we’ll bring the world’s best resources under one roof. Companies like PayPal, Target, Walmart, and Amazon may be competitors outside, but here they collaborate for the greater good. It’s transformative for an entrepreneur to be trained and supported by industry giants.
Why do you believe it’s crucial to be aggressive in business?
Businesses drive our way of life. They evolve from startups to small to medium and large enterprises. They bring hope into communities and create jobs. Being part of moving that economic mobility engine is both a great responsibility and burden. We know there’s a huge need for access, opportunity, and exposure.
This partnership marks a significant step forward in Walmart and RICE Center’s mutual goals of empowering Black entrepreneurs and fostering economic growth within Atlanta’s communities.
