The Russell Innovation Center of Entrepreneurs (RICE) has received $800,000 from Walmart for its PayPal Retail Academy, which educates entrepreneurs on every aspect of successfully starting and scaling a retail business.

Walmart presented the grant to RICE on Monday, Oct. 2, at the Russell Center headquarters at 504 Fair St. SW in Atlanta. The presentation also included a full-day activation on RICE's campus and featured a mix of informative panel discussions, mentoring sessions, food, music and more.

“Being awarded this grant not only marks a significant step forward in our mission to Build. Black. Business., it is also a testament to the belief that when visionary organizations come together, they can drive transformative change. With Walmart’s unwavering support, we’re not just fueling the impact of our PayPal Retail Academy, we are underscoring our shared commitment to advancing equity through economic mobility and shaping the future of Black entrepreneurship in this world,” Jay Bailey, CEO of the Russell Innovation Center for Entrepreneurs, said in a statement.

News of the grant comes two months after Paypal gave RICE, an organization that supports Black business owners in Atlanta, $1 million for the retail academy. At 54,000 square feet, RICE is one of the largest business incubation hubs dedicated to providing resources and building Black-owned businesses in the U.S.

The PayPal Retail Academy will educate participants on every aspect of successfully starting and scaling a retail business. The curriculum will include training on non-traditional retail paths, up-levelling checkout and digitization, developing global marketing strategies, and navigating supply chain issues. Other key components will include research and recommendations to eliminate some of the barriers underrepresented retail small-to-medium businesses face.

The commitment from Walmart is part of its foundation’s plan to give $100 million over five years to help address racial disparities in the U.S.

“We are thrilled to award the Russell Center for Entrepreneurs with this grant,” Monique Carswell, director of Walmart.org Center for Racial Equity, said in a statement. “RICE is consistent in their commitment to nurturing and uplifting Black businesses in Atlanta, and together, we can create a more equitable entrepreneurial ecosystem for all. It is our hope that this program will have a profound impact on participating businesses and the communities they serve, not only in Atlanta but across the country.”