Truist Foundation names Centro Community Partners as top grant recipient at the Inspire Awards

Rhea-AI Summary

Truist Foundation awarded Centro Community Partners with the top recognition at the second Inspire Awards, a pitch-style grant program celebrating nonprofits showcasing innovative technology solutions for undercapitalized communities. Centro received a $250,000 grant and was named Audience Favorite, while Immigrants Rising secured a $150,000 grant. The event, hosted by Greg Olsen, highlighted the impact of technology in supporting small businesses.

Positive

• Centro Community Partners received a $250,000 grant as the top recipient at the Inspire Awards.
• Immigrants Rising was awarded a $150,000 grant for their innovative solution.
• The event showcased technology solutions for undercapitalized communities.
• The grants aim to support small businesses and foster growth in underserved communities.
• The event featured a pitch-style grant program and an on-stage interview with finalists.
• The grants will help implement AI-generated solutions for small business owners.
• The Truist Foundation collaborated with Solve, an initiative of MIT, to identify tech-based ideas.
• The event was held at the Knight Theater in Charlotte and hosted by Greg Olsen.
• The grants aim to promote growth and development in the small business ecosystem.
• The awards ceremony recognized nonprofits committed to innovative solutions for small business owners.

Negative

• None.

Hosted by Greg Olsen, the pitch-style grant program provided funding, yearlong support program for seven nonprofit finalists

CHARLOTTE, N.C., April 25, 2024 /PRNewswire/ -- Truist Foundation awarded Centro Community Partners with the top recognition at the second Inspire Awards, a pitch-style grant program celebrating nonprofits from across the country that showcased innovative technology solutions to support entrepreneurs from undercapitalized communities.

Each finalist shared their vision in a three-minute pitch video and an on-stage interview. The Inspire Awards event culminated with the Truist Foundation team awarding Centro Community Partners with a $250,000 grant to help bring its technology solution to life. The organization also was named the Audience Favorite by attendees of the event, earning a $75,000 grant. Centro Community Partners will use the grant funding to provide an AI-generated journey through a virtual hub of resources for low- to moderate-income entrepreneurs.

"This award isn't just for us, it's for our entire community. The impact will be far reaching and deep," said Arturo Noriega, founder and CEO of Centro Community Partners. "The support from the Truist Foundation Inspire Awards will enable us to make investments in engineering, marketing and new team members who will help us provide innovative solutions to the barriers that so many entrepreneurs face—in languages that are familiar to them and with a cultural relevancy that is critical to helping diverse small business owners thrive."

Truist Foundation collaborated with Solve, an initiative of the Massachusetts Institute of Technology (MIT), to help identify nonprofits with technology-based ideas to help support, grow and develop small businesses in underserved communities and create lasting change.

"Embracing innovative technology is paramount for nonprofits committed to strengthening small businesses. Centro Community Partner's solution showcases the transformative potential of technology to promote growth and development in the small business ecosystem," said Lynette Bell, president of Truist Foundation. "The Truist Foundation Inspire Awards provide a platform to elevate nonprofits that are driven by passion, attuned to the needs of small business owners and pioneering innovative solutions that better the communities they serve."

A second-place grant of $150,000 was awarded to Immigrants Rising, whose solution employs a gamification learning hub to help remove barriers to traditional employment for those who want to earn a sustainable income through small business ownership. The runners-up each received a $25,000 grant to help implement their solutions.

The Inspire Awards ceremony was held on Wednesday, April 24, 2024, at the Knight Theater in Charlotte. The event was hosted by American football sportscaster and former NFL player Greg Olsen. Bell, Olsen and Truist Financial Chairman and Chief Executive Officer Bill Rogers announced the grant recipients.

To learn more about all seven finalists and how Truist Foundation supports small businesses, visit Truist.com/InspireAwards.

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

FAQ

Who was awarded the top recognition at the Truist Foundation Inspire Awards?

Centro Community Partners was awarded the top recognition at the Truist Foundation Inspire Awards.

What was the amount of the grant awarded to Centro Community Partners?

Centro Community Partners received a $250,000 grant at the Inspire Awards.

Who was named the Audience Favorite at the Inspire Awards?

Centro Community Partners was named the Audience Favorite at the Inspire Awards.

What was the grant amount received by Immigrants Rising?

Immigrants Rising was awarded a $150,000 grant at the Inspire Awards.

Where was the Inspire Awards ceremony held?

The Inspire Awards ceremony was held at the Knight Theater in Charlotte.

Who hosted the Inspire Awards ceremony?

The Inspire Awards ceremony was hosted by Greg Olsen.

What was the focus of the Inspire Awards event?

The Inspire Awards event focused on showcasing innovative technology solutions for undercapitalized communities.

Who collaborated with Truist Foundation to identify tech-based ideas?

Solve, an initiative of MIT, collaborated with Truist Foundation to identify tech-based ideas.

What was the purpose of the grants awarded at the Inspire Awards?

The grants aim to promote growth and development in the small business ecosystem.

What impact did the grants aim to have on underserved communities?

The grants aimed to support small businesses and foster growth in underserved communities.