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RICE Center Receives a $1 Million Grant to Create PayPal Retail Academy

The Russell Innovation Center for Entrepreneurs, also known as the RICE Center, received a $1 million grant from PayPal to launch a PayPal Retail Academy. This academy is designed to help Black businesses successfully launch. Academy participants will receive grants ranging from $2,500 to $10,000, alongside mentorship and coaching from PayPal employees. PayPal is a partner of Southern Communities Initiative, which Robert F. Smith leads alongside Dan Schulman (CEO of PayPal) and Rich Lesser (Global Chair of Boston Consulting Group).