The Russell Innovation Center for Entrepreneurs (RICE) is redefining how Black-owned businesses are supported and scaled. Named after visionary businessman Herman J. Russell, RICE is more than just a business hub—it’s a thriving community dedicated to growth, innovation, and generational impact. Through mentorship, resources, and an unwavering commitment to equity, RICE is helping Black entrepreneurs turn bold ideas into lasting legacies. Every program, partnership, and initiative is designed to close the racial wealth gap and create pathways to sustainable success.
To learn more, we spoke with Jay Bailey, President and CEO of RICE, who is leading this visionary work with vision, heart, and a deep commitment to legacy.
Q. Can you share the inspiration behind the founding of the Russell Innovation Center for Entrepreneurs?
A. The Russell Innovation Center for Entrepreneurs (RICE) was born from both legacy and necessity. Nearly 80 years ago, Herman J. Russell built a 50,000-square-foot headquarters in Atlanta—a physical manifestation of Black excellence and entrepreneurial power. After his passing, the Russell family didn’t want to preserve that legacy with a statue or a plaque—they wanted to build something living, something that honored who he was by continuing what he did: building.
The idea to transform that space into an innovation hub for Black entrepreneurs was not only fitting—it was essential. Atlanta still ranks as the worst city in America for economic mobility, and zip codes here still predict futures. We needed more than symbols of hope—we needed an institution that could manufacture hope at scale.
So, we created RICE—a place that brings all the necessary resources under one roof. It is a space rooted in community, culture, and covenant. It is a platform built not to inform but to transform. It is not just a center but a launchpad for legacy.
Q. How does RICE define its mission of supporting Black entrepreneurs, and what sets it apart from other innovation hubs?
A. Our mission is simple: Build Black Business. But what sets us apart is how deeply we live that commitment. RICE is 100% owned by the community it serves—a space built by us, for us, in us. We’re not outsiders helping from a distance—we’re insiders investing from within.
We walk the talk. To date, we’ve spent more with Black entrepreneurs than many Fortune 1000 companies—and we’re a five-year-old nonprofit. From architecture to janitorial services, we prioritize Black-owned vendors in everything we do. But our ecosystem is more than procurement. We’ve brought together over 14 mission-aligned organizations under one roof, creating a living, breathing platform for economic mobility.
Our goal goes beyond what we can teach—it’s about who we can become together. Because real transformation happens in community, not isolation.
Q. What role does RICE play in Atlanta’s entrepreneurial ecosystem?
A. RICE is a cornerstone of Atlanta’s entrepreneurial ecosystem—a proving ground for what inclusive innovation looks like when done right. Since 2019, we’ve supported over 600 entrepreneurs who collectively generate $180M+ in annual revenue, sustain 4,500+ jobs, and have created $550M+ in economic impact each year.
We’ve invested more than $25M in direct spending with our Stakeholders and facilitated over $3M in non-dilutive business grants. These entrepreneurs now manage nearly $200M in combined revenue pipelines. And they grow fast—6.6x faster than the national average, with 72% employing staff and nearly half advancing beyond the vulnerable startup stage.
We do all this by leading with our covenant: Collaboration beats competition. We are not just supporting businesses—we are powering an entire ecosystem.
Q. What resources and support does RICE offer entrepreneurs at different stages of their business journey?
A. Entrepreneurship is a journey; at RICE, we’ve built a platform that evolves with the entrepreneur. Our formula is clear: Readiness + Uncommon Access = GROWTH.
We offer deep support through our Big IDEAS Learning Continuum, structured to meet founders at every stage—from early ideation to scale. Through curated coaching circles, one-on-one advisory sessions, access to capital partners, technical assistance, and market opportunities, we deliver a level of infrastructure typically out of reach for most Black-owned businesses.
And we’re not static. We’re growing and learning every day—refining our product offerings, listening to our Stakeholders, and adjusting in real time. Because relevance isn’t something you assume—it’s something you earn. And at RICE, we earn it by walking alongside our entrepreneurs, not just showing them the way.
Q. Can you highlight some of the mentorship and educational programs available to members?
A. Mentorship is core to our DNA. At RICE, we offer structured and stage-specific guidance through our Accelerate and Scale Coaching Circles, which give entrepreneurs access to experts, advisors, and practitioners who understand the unique challenges of Black business ownership.
Our sector-based academies—in Retail, Supply Chain, Government Contracting, and more—deliver deep, practical, industry-specific knowledge. Our in-house partners offer everything from certification assistance to procurement pathways and business credit development. It’s not just education—it’s real-time, applied, and built for action.
Q. How does RICE help startups access funding and capital, which can often be a challenge for Black-owned businesses?
A. We know that access to capital is often the greatest barrier for Black entrepreneurs. That’s why we’ve developed a multi-layered approach to closing the gap.
We house key capital partners in our building—including Access to Capital for Entrepreneurs (ACE), Invest Atlanta, Village Micro Fund, Greenlight Fund, and Kindred Futures—ensuring direct pathways to loans, grants, and catalytic investments.
This fall, we’re launching FUNDamentals—a dynamic, hands-on Entrepreneurial Funding Readiness Course. It teaches everything from capital strategy and credit building to how to absorb and deploy funding effectively. We help entrepreneurs not just get the money but get ready for it.
At RICE, capital isn’t charity—it’s strategy. And we’re here to help our Stakeholders leverage it with power and purpose.
Q. What industries or business sectors do you see most represented among RICE entrepreneurs?
A. Our ecosystem reflects the full diversity of Black innovation. We support entrepreneurs in CPG, retail, real estate, construction, tech, professional services, logistics, and more.
We’ve built platforms like the Supply Chain Accelerator, Retail Readiness Academy, and our Government Contracting Lab to support businesses operating across B2B, B2C, and B2G models. At RICE, it’s not just about industry—it’s about intention. We meet businesses where they are, with the tools they need to grow in the markets they serve.
Q. Can you share some success stories of businesses that have grown through RICE’s programs?
A. We have hundreds of success stories—each one proof of what’s possible when the right support meets the right moment.
There’s Jennifer Barbosa, now doing business with Amazon; Channing Baker, who launched his company at RICE just three years ago and now manages a multimillion-dollar pipeline—including leading the development of RICE 2.0; and Zoe Oli, our youngest Stakeholder, whose brand Beautiful Curly Me is empowering girls across the globe and redefining beauty through toys and representation.
Just this year, we took a group of 14 entrepreneurs to Bentonville, Arkansas, to explore national retail opportunities. As a result, five of them secured national distribution deals—a testament to what happens when exposure, readiness, and relationship intersect. But while those big wins are remarkable, we also celebrate the smaller, everyday victories: a founder launching their first website, a business landing its first client, or a team hiring its first employee.
That culture of support, where every win matters, is intentional. At RICE, we don’t just scale companies. We scale belief. These aren’t exceptions—they’re the evidence of what’s possible when community and capital move together. At RICE, entrepreneurs don’t just build businesses—they build legacies.
Q. What key challenges do you see Black entrepreneurs facing today, and how does RICE help them navigate those challenges?
A. These are unprecedented times. We’re seeing a reversal of DEI commitments,
rising costs, global instability, and ongoing attacks on progress. It’s a moment that demands courage, community, and collaboration.
Black entrepreneurs have always faced the reality of getting less and less capital, less connectivity, and less access. At RICE, we don’t just acknowledge those disparities—we exist to disrupt them. We mitigate those challenges with “Uncommon Access”: capital partners, strategic mentorship, technical training, and a community that holds you up even when the market doesn’t.
When systems fall short, we rise together. Because entrepreneurship is hard, but doing it alone is harder. And at RICE, you’re never alone.
Q. How does RICE measure its impact on the local business community?
A. We believe that true impact can’t be measured by metrics alone. Yes, the numbers matter—our entrepreneurs generate over $180 million in annual revenue, sustain 4,500+ jobs, and contribute over $550 million in economic impact to metro Atlanta. But our goal goes beyond economic activity—we’re measuring Black Prosperity in its fullest sense.
That means looking at the well-being of the whole entrepreneur, not just their profit margins, but their peace of mind, their ability to lead teams, support their families, and build sustainable legacies.
We developed the RICE Readiness Score, a proprietary tool that helps entrepreneurs identify their position on the journey and assess strengths and growth areas. It’s a mirror and a map, helping us tailor support and helping our entrepreneurs track progress with intention.
Q. RICE is known for its strong community focus—how do you foster collaboration among entrepreneurs?
A. We built RICE to feel like an HBCU for entrepreneurs—a place where community isn’t a feature, it’s the foundation. We build authentic relationships that fuel growth through peer coaching, curated collisions, cohort-based programming, and town halls.
Our entrepreneurs regularly partner, collaborate, and grow together—not in spite of each other, but because of each other. At RICE, community becomes capital, and collaboration isn’t just encouraged—it’s expected.
Q. Are there any corporate or community partnerships that have been especially valuable in advancing RICE’s mission?
A. Are there any corporate or community partnerships that have been especially valuable in advancing RICE’s mission?
Yes—over 100 funded partners, including many from the Fortune 1000, have invested in our work. More than 17 Fortune 500 CEOs have personally visited our space. Our partnerships aren’t just financial—they’re embedded.
From Comcast, Google, and Cox to UPS, Truist, and Invest Atlanta, our partners are part of the infrastructure, mentoring, opening doors, and co-building solutions. These partnerships fuel our growth, and shared commitment fuels our future.
Q. How can entrepreneurs, business leaders, and the community at large get involved with RICE?
A. We invite you to attend our next info session in September or join our mailing list at www.russellcenter.org.
