Truist Foundation Get inspired

Join us virtually at the 2024 Truist Foundation Inspire Awards on April 24. You’ll see our seven innovative finalists pitch their ideas, cast your vote for the Audience Favorite award, and see the big winner announced live. Host Greg Olsen kicks it all off at 6 pm ET.

Meet the 2024 Truist Foundation Inspire Award finalists.

Each finalist was selected for their inspiring vision for the future of small businesses. Their nonprofits have the potential to be revolutionary for entrepreneurs around the country, creating the opportunity for new generations of people and communities to thrive. We’re so excited for you to meet them—we’re sure it won’t be the last you hear from them.

Meet the finalists

Transcript

00:00:07:01 - 00:00:17:14

Unknown

I always say, when I leave this earth, I want to make sure that I left an impact and it doesn't have to be monetary. I want it to be the difference I can make.

00:00:17:23 - 00:00:30:18

Unknown

When I think about the entrepreneurs we work with, they are who inspire me. They are working with limited resources and saw an opportunity in their communities, and just are doing everything they can to see their businesses exist.

00:00:30:18 - 00:00:35:06

Unknown

My daughter, my daughter. Just the way she views the world.

00:00:35:06 - 00:00:40:20

Unknown

She thinks anything is possible. She believes in everybody's good. I'm inspired by her on a daily basis.

00:00:41:08 - 00:00:43:23

Unknown

I think a lot about this African proverb that says

00:00:43:23 - 00:00:52:21

Unknown

the best time to plant a tree was yesterday but the next best time to plant a tree is today. Take ideas, take inspiration and have them take root now.

00:00:52:21 - 00:00:55:21

Unknown

that's what inspires me for creating a better future.

00:00:55:21 - 00:01:08:07

Unknown

Currently, what I find really inspiring is all the wins that we've seen workers make in the last year. Just being able to have working people really be able to finally have a voice and have a say and say, this is what community looks like and this is what we want our world to look like.

00:01:08:07 - 00:01:21:12

Unknown

I'm inspired by the incredibly gifted people that have come forward with these incredible ideas on how to really create the future so that people and the society start to really improve and can thrive.

00:01:21:12 - 00:01:34:00

Unknown

So what inspires me is helping the communities that I didn't even know needed help before. But it's just really inspiring getting to see the difference in our resources and our help gets to bring these communities.

Let’s make a difference—together.

In 2022, we launched the inaugural Inspire Awards in response to the unprecedented impact of COVID-19 on small businesses, particularly entrepreneurs from undercapitalized communities. This year’s Inspire Awards Challenge will look to innovative, technology-based solutions as a proven pathway to resiliency and sustainability for small businesses.

Technology solutions empower businesses to reach new customers, adapt during economic disruptions, streamline operations, and build partnerships that strengthen the small business community. Even during uncertain times, technology is and will continue to be crucial to small business success.

Learn more about our finalists and their solutions

Learn more

Focus on cutting-edge concepts

Our nonprofit finalists will be comprised of organizations with innovative, tech-enabled solutions that address challenges faced by small business owners, including:

Financial readiness – Developing new or improved methods, or tools, that assist in finance for loan acquisition, including understanding and assessing credit and assets, loan-to-debt ratio, cost of growth, and information on alternative/non-traditional funding sources
Business development and procurement – Connecting small business owners to vendors, suppliers, and networks to transform their ability to do business
Support scaling – Supporting long-term business plans and succession through mergers and acquisitions, generational/equitable wealth, hiring pipeline, legal advising, and back-office support
Internal financial health – Introducing innovative solutions to decrease the burden of keeping healthy and accurate financial records
Employee advancement – Supporting upskilling and reskilling, managing human resources, and mid-management or mid-career advancement
Data and impact – Capturing, synthesizing, optimizing, and displaying data for business intelligence, impact evaluation, and improved decision-making for resource allocation

To be eligible, solutions to this challenge must include a technology component. Technologies can include but are not limited to platforms, apps, software, management tools, financial programs, etc.

For more details on our challenge, please visit MIT Solve.

Building a program of opportunity

Truist Foundation, with help from its advisory council, is interviewing 15 semifinalists. Then, Truist Foundation will narrow it down to seven finalists. The eight remaining semifinalist organizations will receive a $10,000 grant each to put toward their idea.

The seven finalists will take part in a six-month wraparound support program to help transform their groundbreaking ideas into tangible solutions. The program includes:

A comprehensive needs assessment to determine what resources and support will most likely accelerate impact
Access to a network of resource partners, mentors, and coaches across industries and sectors
Learning and development modules aimed at refining the business model, theory of change, and plans for scaling
A peer-to-peer network to build a community with dedicated spaces to convene during the support program
An invitation to a two-day Truist Leadership Institute retreat
A workshop focused on helping finalists prepare for the presentation and awards event
An invitation to participate in the annual flagship Solve at MIT event, held in May each year

The celebration of success

Following the completion of the program, each of the finalists will present their unique solutions to the Truist Foundation. During an exciting one-night-only event, finalists will have the opportunity to share their innovative idea with the community and a live audience where we will announce the grant recipients.

Here are the grants for this challenge:

First place: $250,000
Second place: $150,000
Audience Favorite: $75,000
Runners-up: $25,000

Here’s a recap of the 2022 Inspire Awards.

Atlanta Wealth Building Initiative (AWBI) was the first-place recipient of the inaugural Inspire Awards. After each nonprofit finalist pitched their solutions to the Truist Foundation, AWBI was awarded a $250,000 grant. AWBI employs a community wealth-building framework to bolster 1,000 Black businesses in 1,000 days.

A grant for $225,000 was awarded to second place and audience fan favorite Aarti Sahgal, founder of Synergies Work. Synergies Work creates a framework of end-to-end support for entrepreneurs with disabilities focusing on financial capital, social capital, education, and mentorship to bridge the gaps between the business and disability community.

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Podcast: Money and Mindset with Bright and Brian

Truist Foundation Get inspired

Meet the 2024 Truist Foundation Inspire Award finalists.

Let’s make a difference—together.

Learn more about our finalists and their solutions

Focus on cutting-edge concepts

Building a program of opportunity

The celebration of success

Here are the grants for this challenge:

Here’s a recap of the 2022 Inspire Awards.

Investment and Insurance Products:

Limited English Proficiency Support:

New York City residents:

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

Truist Foundation Get inspired

Meet the 2024 Truist Foundation Inspire Award finalists.

Let’s make a difference—together.

Learn more about our finalists and their solutions

Focus on cutting-edge concepts

Building a program of opportunity

The celebration of success

Here are the grants for this challenge:

Here’s a recap of the 2022 Inspire Awards.

Disclosures

Investment and Insurance Products:

Limited English Proficiency Support:

New York City residents:

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

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