The Walton Family Foundation is giving a $1.3 million grant to a nonprofit organization that supports Black and minority entrepreneurs.
Grant recipient Venture Noire said Wednesday that it will use the funds to start a program called In the Black. Its eight-week courses will aim to advance Black-owned businesses in fields such as consumer technology, health care, and financial technology.
Venture Noire is looking for qualified entrepreneurs from across the U.S. to take part in the program’s first course. Participants will attend workshops and mentoring sessions to help them manage and improve their businesses.
Instead of focusing on securing venture capital, Venture Noire said, In the Black courses will teach entrepreneurs to identify and achieve other ways of growing their businesses. Each course will end with a showcase in Northwest Arkansas in which participants will present their businesses to industry leaders and investors.