Truist Foundation Announces Deadline Extended for Second Inspire Awards Challenge

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Truist (TFC): Truist Foundation extends deadline for second Inspire Awards Challenge in collaboration with MIT Solve, offering grants up to $250,000 for tech-enabled solutions benefiting small business owners

CHARLOTTE, NC / ACCESSWIRE / August 9, 2023 / Truist:

In collaboration with MIT Solve, Truist Foundation announced the deadline for its second Inspire Awards Challenge has been extended to Friday, Aug. 11, 2023.

The Truist Foundation Inspire Awards Challenge, in collaboration with Solve- an initiative of the Massachusetts Institute of Technology (MIT) dedicated to promoting innovative solutions to global problems, seeks nonprofit organizations with creative, tech-enabled solutions that address challenges faced by small business owners. From now until Aug. 11, 2023, qualifying nonprofits can submit applications through MIT Solve that answer the question, "What innovative, technology-based solution is your nonprofit implementing to create pathways to resiliency and sustainability for small businesses?"

Truist Foundation and MIT Solve will conduct a six-month wraparound support program for a cohort of seven 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, measurement training, access to a network of resource partners and coaches, and more leading up to the live event.

Following the completion 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 actualize their project, while $150,000 grant goes to second place, and $25,000 grant to each of the runner-up teams. 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.

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. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation's grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Foundation.

Media Contact:

Kristen Fraser, Truist
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SOURCE: Truist

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FAQ

What is the Truist Foundation Inspire Awards Challenge about?

The Truist Foundation Inspire Awards Challenge, in collaboration with MIT Solve, seeks nonprofit organizations with tech-enabled solutions for small business challenges.

What are the prizes for the winners of the challenge?

The first-place nonprofit will receive a $250,000 grant, second place receives $150,000, and runner-up teams receive $25,000 each.

How can nonprofits apply for the challenge?

Nonprofits can submit applications through MIT Solve by answering the question, 'What innovative, technology-based solution is your nonprofit implementing to create pathways to resiliency and sustainability for small businesses?'

What support will the finalists receive?

Finalists will receive a six-month wraparound support program, including needs assessment, learning and development modules, access to a network of resource partners and coaches, and more.

What are the additional benefits for finalists?

Finalists are invited to a two-day Truist Leadership Institute Retreat and the annual flagship Solve at MIT event, held in May each year.