Truist Foundation launches nonprofit support initiative | Local | journalnow.com – Winston-Salem Journal

It is a pitch competition open to nonprofits supporting Black, Indigenous, people of color and women-owned small businesses “to plan, market and grow their businesses.” Truist is partnering with Solve, an initiative of the Massachusetts Institute of Technology that has as its mission  “driving innovation to solve world challenges.”

Officials said they will identify nonprofit-driven solutions to help small businesses, many of which have been disproportionally impacted by COVID-19, become sustainable and resilient.

Through May 13, nonprofits can submit applications through MIT Solve — https://solve.mit.edu/challenges/truist-foundation-inspire-awards — and answer the question: What innovative solution is your nonprofit implementing to provide transformational support to women and BIPOC-owned businesses in the United States?

The plan is to identify seven finalists in the spring to participate in a capacity-building support program “to turn their innovative solutions into realities. “

After the support program, finalists will compete in a pitch event to present their solutions to a panel of judges. The winner will receive $250,000, while runners-up will receive cash awards.