Truist Foundation Inspire Awards Challenge

Real change comes when real people identify a problem, question the status quo, and challenge the existing system. Ideas have the power to transform—so we’re looking for bold ones that will impact the future of entrepreneurship. With the Inspire Awards Challenge,
non-profits have the chance to create lasting change in a big way.

Let’s make a difference—together.

The Truist Foundation is excited to partner with MIT Solve to host the 2022 Inspire Awards Challenge. The Challenge is a workshop-style competition designed to support the ideas of innovative nonprofit organizations that help grow, develop, and sustain racially diverse or women-led small businesses. We encourage all forward-thinking organizations that meet the eligibility requirements to submit their big ideas by May 13, 2022.

Focus on cutting-edge concepts

We encourage your bold idea to reflect our purpose to inspire and build better lives and communities. We’ll support the Challenge finalists who explore creative ways to fill the gaps in the current small business ecosystem, helping to:

Connect small business owners with community networks that can help improve coordination, collaboration, and knowledge sharing
Advocate for and shape policy that removes structural barriers, and increases access to resources and infrastructure
Offer focused guidance for building the professional skills of internal staff
Assist with access to capital, capital campaigns, or financial education and information
Foster scaled growth through comprehensive and relevant technical support assistance

Building a program of opportunity

Supporting more than one great idea means giving a voice to more of the community. A panel of Inspire Awards judges will select 15 semifinalists to interview, then narrow it down to seven finalists. The eight remaining organizations will receive $10,000 each to put toward their idea.

The seven finalists will participate in a five-month support program run by MIT Solve and the Truist Foundation that will include:

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
An invitation to participate in the annual flagship Solve at MIT event, held in May each year
A monitoring and evaluation track to support finalists in building their impact measurement practice
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 in 2023
A workshop focused on helping finalists prepare for the presentation and awards event

Ready to join the Challenge?

Get Started

Inspiration for nonprofit community leaders and change makers

Lynette Bell, president of Truist Foundation, announces the launch of the Inspire Awards. Join us and share your innovative ideas as we take our commitment to building better lives and communities to the next level.

Transcript

Welcome. I'm Lynette Bell, president of Truist Foundation,

The philanthropic arm of Truist Financial Corp.

I am thrilled today to share that we're taking our commitment to the next level

With the launch of the Inspire Awards.

This Fast Pitch Competition program

Will elevate the nonprofits with innovative and powerful ideas

And uplift the organizations that are changing their communities day in and day out.

We are partnering for the Inspire awards with MIT Solve to invite nonprofits from across the country

To submit innovative solutions to these complex challenges facing women and minority owned businesses in their communities.

We invite you to join us as we endeavor to inspire community leaders and change makers for many years to come.

The celebration of success

When the support program wraps up, the finalists will present their solutions in Charlotte, North Carolina during a hybrid in-person and online event on Oct. 20, 2022. A panel of judges will evaluate the finalists’ presentations, which will be livestreamed to an online audience who can vote for their favorite. Then we’ll announce the winners during an awards ceremony that will take place immediately after the presentations.

Here’s what you can win this year:

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

Keep these important dates in mind:

Feb. 16: Challenge opens
May 13: Deadline for applicants to submit a solution
June 21: Semifinalists invited for interview with judges
July 1: Finalists announced
July – November: Finalist Support Program
Oct. 20: Pitch event for finalists and winner announcement

We can't wait to see your ideas.