Half of the donation will go to entrepreneurs. The day before Beyoncé’s scheduled concert in a city,
BeyGOOD will host luncheons for entrepreneurs who have the chance to win a grant from the $100 thousand allocated for each networking event. BeyGOOD plans to support a thousand small businesses with a total donation of $1 million.
The foundation said it is prioritizing organizations that support or serve marginalized and under-resourced communities. Applications to apply for a spot are now open.
The other half of the funds will establish the Renaissance Scholarship Fund. BeyGood will give $1 million to colleges and universities in 10 cities across the country with each institution receiving $100,000.
The institution will then select student recipients.
Ivy McGregor, the foundation’s executive director, said in a statement that “everyone has the right to economic equity.
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