Find Nonprofit and Small Business Grants

Advance Search

Only Available for Paid Subscribers
Clear Filters
Search Filters
Competition for USA Nonprofits to Create Innovative
Solutions to Assist Small Minority-Led Businesses

Truist Foundation Inspire Awards

Agency Type:

Foundation / Corporation

Funding Source:

Add to My Calendar 

Truist Foundation and Massachusetts Institute of Technology (MIT) - MIT Solve

Conf. Date:


Deadline Date:

05/16/22 12 PM (Noon) EST


Request a Grant Writer

Competition for USA nonprofit organizations to create innovative solutions to assist small business owners. The purpose of the competition is to generate initiatives that support racially diverse and women-led small businesses. Competition finalists will receive training and mentoring to support their efforts.

The Truist Foundation is especially interested in supporting solutions in, or with plans to expand to, at least one of the following 18 markets in which Truist operates: North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C., New Jersey, Delaware.

The Truist Foundation and MIT Solve are thrilled to be partners in launching the inaugural Inspire Awards to identify innovative nonprofit-driven solutions that provide support to grow, develop, and sustain racially diverse and/or women-led small businesses in the United States. The Challenge is seeking organizations driving a new frontier for entrepreneurship across the United States. Truist Foundation and MIT Solve welcome bold solutions with transformational potential that span across a range of challenges faced by small business owners, including:

  • Connecting small business owners and key stakeholders such as investors, local policymakers, and mentors with the relevant experience to improve coordination, collaboration, and knowledge bases within the small business ecosystem
  • Advocating for and shaping policy that supports small business owners and/or place-based efforts in their geographic areas, including increased access to resources, removal of structural barriers, and access to infrastructure (i.e. broadband)
  • Offering focused guidance/professional development for building specific functional skills for internal staff such as strategic planning, human resources, process improvement, and research and testing products/services
  • Assisting with access to capital, capital campaigns, and/or financial education and information
  • Supporting and fostering growth to scale through comprehensive and relevant technical support assistance such as legal aid, fiscal management for sustainability, marketing, and procurement. 

The Challenge will consider solutions in the Pilot, Growth, or Scale stages of development. See definitions in FAQs, in Pre-Application Information, below. 

All finalists will participate in a 5 month tailored support program run by MIT Solve and the Truist Foundation that will include:

  • A comprehensive needs assessment to determine what resources and support are most appropriate to accelerate their impact.
  • Access to a network of resource partners, mentors, and coaches across industries and sectors.
  • Learning and development modules aimed at refining business model, theory of change, and plans for scaling.
  • Invitation to participate in Solve’s annual flagship Solve at MIT event held in May each year.
  • A monitoring and evaluation track to support finalist teams in building their impact measurement practice.
  • A peer-to-peer network to build a community of practice with dedicated spaces to convene throughout the duration of the support program.
  • “Solveathon” workshop focused on refining the finalist solutions and pitch consultation to help finalists prepare for the event.
  • Wraparound services including an invitation to a two-day Truist Leadership Institute Retreat in 2023. 

GrantWatch ID#:

GrantWatch ID#: 201981

Estimated Size of Grant:

- Semifinalists who don’t advance to the finalist stage will receive $10,000 each.
- $250,000 for the First Place Winner
- $150,000 for the Second Place Winner
- $75,000 for the Audience Favorite
- $25,000 for each runner up team

Additional Eligibility Criteria:

The Inspire Awards are open to nonprofit organizations that meet the following requirements:
- Hold a registered 501(c)(3) status with the IRS.
- Headquartered and currently deployed in at least one U.S. state.
- The organization is operating at least at a Growth Stage of Development: A registered 501(c)(3) organization with an established product, service, or business model rolled out in one or, ideally, several communities, which is poised for further growth in multiple communities or countries. Organizations at the Growth Stage should have a proven track record with an annual operating budget - see Organization vs. Solution for more information.
- The organization’s solution is at least at the Pilot Stage of Development: a product, service, or business model that is in the process of being built and tested with a small number of beneficiaries or working to gain traction - see Organization vs. Solution for more information.
- Team Lead must be 18 years or older to apply: The Team Lead should be the CEO, Executive Director, Primary Investigator, or other key leader for your solution. If your solution is selected as a semi–finalist, this person will be expected to present the solution to judges during an interview session, and if selected as a finalist for the Inspire Awards, they will be the lead participant in the support program.

The Challenge will not consider organizations in the Idea or Early Stages. See FAQs, in Pre-Application Information, below, for definitions.

Pre-proposal Conference:

Info Session: Truist Foundation Inspire Awards
12:00PM - 1:00PM ET
March 11, 2022
Event Details:

This informational session is your opportunity to learn more about Truist Foundation Inspire Awards. Join to learn more about the application, timeline, eligibility requirements, available awards, and more.

Pre-Application Information:

Challenge Timeline:
- February 16, 2022: Challenge Opens
- May 16, 2022 12pm [noon] EST: Deadline for Applicants to Submit a Solution
- June 21, 2022: Semifinalists invited for Interview Session with Judges
- July 1, 2022: Finalists Announced
- July-November 2022: Finalist Support Program
- October 20, 2022: Pitch Event for Finalists and Winner Announcement

Once the submission deadline passes, judging will begin. After an initial screening by MIT Solve staff and community reviewers, Challenge judges will select a group of 15 semifinalists with the most promising solutions. The semifinalists will participate in an interview session with Challenge Judges who will then select a cohort of seven finalists. Finalists will be awarded funding and participate in a five-month wraparound support and capacity-building program. Toward the conclusion of the support program, finalists will be invited to pitch their solutions at a pitch event, where judges will then select the award winners.

How to Apply:

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Submit a Solution:

Inquiries, contact Sara Monteabaro:

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

Array ( )

Suggested Grants:

Grants to USA Agencies, Educational Institutions, Nonprofits, and Tribes to Reduce Violent C...

Deadline 07/14/22

Grants to USA and territories government agencies, educational institutions, nonprofit organizations, faith-based and community organizations, and tribal governments for activities to reduce violent crime in local communities. Applicants are advised that required regist

GrantWatch ID#: 123715

Grants to USA Nonprofits to Address the Climate Crisis and Reduce Inequality

Deadline Ongoing

Grants to USA nonprofit organizations to reduce social inequality and promote solutions to the climate crisis. Eligible programs will address the areas of racial and economic justice, corporate and political accountability; voice, creativity, and culture; and an inclusi

GrantWatch ID#: 123756

Grants to Maryland Nonprofits and Agencies for Historic and Cultural Preservation Projects

Deadline 08/01/22 Conference Date: 06/14/22 LOI Date: 06/27/22

Grants to Maryland nonprofit organizations and government agencies for historic preservation projects. Applicants must submit a preliminary application prior to submitting a full proposal. Funding is intended for a wide range of planning, survey, research, and education

GrantWatch ID#: 124187

Grants to Virginia Nonprofits for Public Programs that Promote the Humanities in Local Commu...

Deadline 01/15/23 LOI Date: 11/15/22

Grants to Virginia nonprofit organizations for programs that promote the humanities in local communities. Certain applicants are required to submit an LOI prior to a full grant application. All applicants are advised to contact Foundation staff prior to submitting a pro

GrantWatch ID#: 125447

Grants to Massachusetts Nonprofits for Community Benefit Programs Primarily to Support Youth

Deadline Ongoing

Grants to Massachusetts nonprofit organizations for community benefit initiatives. A letter of intent must be submitted prior to submitting a full proposal. Priority is given to addressing the needs of low-income youth, children, and their families. The funding source s

GrantWatch ID#: 125830

Grants to Researchers Affiliated with Qualified USA Institutions to Improve Clinical Researc...

Deadline 08/26/22 LOI Date: 07/08/22

Grants of up to $50,000 to researchers affiliated with qualified USA institutions to advance research in the field of pediatric oncology. Applicants must submit a letter of intent prior to submitting a full application. Funding is intended to increase the institution's

GrantWatch ID#: 125838

Grants to USA and Canada Nonprofit Charitable Organizations to Impact Public Policy in a Var...

Deadline Ongoing

Grants to USA and Canada nonprofit charitable organizations to impact public policy in a variety of national and international issues. In previous years, grants have been awarded for general operations and project support to think tanks, national councils, judicial orga

GrantWatch ID#: 125864

Grants to New York and Pennsylvania Families Caring for a Child with Cancer to Offset Treatm...

Deadline Ongoing

Grants to New York and Pennsylvania families living in eligible areas and caring for a child with cancer to offset expenses related to the child's cancer treatments. Funding is intended to cover costs not covered by health insurance, including travel costs, housing, and

GrantWatch ID#: 125904

Grants to USA Nonprofits to Protect Natural Resources

Deadline Ongoing

Grants to USA nonprofit organizations to protect natural resources on land and water in locations around the world. Funding is intended to ensure that activities to acquire metals, gemstones, and corals for design use do not have an adverse impact on the area of origin.

GrantWatch ID#: 126162

Grants to USA Nonprofits in Multiple States for Community-Based Social Change Initiatives

Deadline 05/31/22

Grants of up to $5,000 to Tennessee, Kentucky, Virginia, and West Virginia nonprofit organizations for community-based social change initiatives in eligible areas. Funding is intended to support organizational operations. Eligible applicants are those serving communitie

GrantWatch ID#: 126411