OUR IMPACT
RUSSELL INNOVATION CENTER FOR ENTREPRENEURS
THE RICE REPORT: VOLUME 1
Something special is happening on Atlanta’s Westside...
Entrepreneurs reached in 2022 through RICE and its partners 10,000
Direct spend with Black businesses to date $ 19.5M +
Stakeholders 350 +
ARE BLACK OR PEOPLE OF COLOR
ARE WOMEN
100%
56%
OUR TOP SIX INDUSTRIES: CONSULTING, RETAIL, TECHNOLOGY, REAL ESTATE, HEALTH CARE, BUSINESS SERVICES
At RICE, businesses are growing...
...creating value...
Total annual revenue generated by RICE Stakeholder businesses $ 114M
New revenue generated by Stakeholders since engaging with RICE $ 60M +
Jobs sustained by Stakeholder businesses since 2020 1,318 Source: Atlanta Regional Commission Economic Impact Assessment
Total economic activity since 2020 Total economic activity defined as a combination of gross and total county outputs, and disposable personal income for residents. $ 450M
7.2%
2020
15.5%
2021
43.7%
Source: Atlanta Regional Commission Economic Impact Assessment
2022
in grants awarded to Black businesses through direct connection to RICE $ 2.725M
...and outperforming.
Year-over-year growth in average Stakeholder revenue
46%
72%
4%
4%
in equity investments raised by Stakeholder businesses $ 590K +
in loans secured by Stakeholder businesses $ 910K +
of RICE Stakeholder businesses thrive beyond the startup stage. The average survival rate for Black-owned startups is 4%.
of RICE Stakeholder businesses employ one or more people. The average rate among Atlanta’s Black-owned businesses is 4%.
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