Free funding advice, corporate networking, and live entertainment return to Castleberry Hill this Friday when the Russell Innovation Center for Entrepreneurs hosts its flagship First Fridays gathering starting at 10 a.m. The monthly event, held at 504 Fair Street SW, is open to current and aspiring business owners across metro Atlanta at no cost.
According to Atlanta News First, Friday's session pairs educational panels and interactive labs with appearances by civic leaders and live entertainment, giving attendees a chance to acquire business skills, meet corporate leaders, and secure funding all in one visit. Quintin Bostic, vice president of partnerships at RICE, discussed the upcoming gathering, and Linia White, owner of Paper Luxe Studios, spoke about how RICE supports the local business community, per the same report.
Access to Capital for Entrepreneurs, known as ACE, is partnering with RICE for the event to educate business owners on securing capital. ACE is Georgia's largest nonprofit Community Development Financial Institution, serving all 159 counties in the state with small business loans ranging from $15,000 to $1 million paired with business advisory coaching, according to Mastercard Strive USA.
A Landmark Rooted in Black Business History
The building hosting First Fridays carries its own weight in Atlanta history. The site at 504 Fair Street SW was formally dedicated with a Georgia Historical Society marker in April 2026, recognizing its role as a landmark of Black business history, as reported by the Atlanta Journal-Constitution. The building originally served as the longtime headquarters for H.J. Russell & Company.
Herman J. Russell founded that company in 1952 as a small plastering business and built it into one of the country's largest Black-owned construction firms, contributing to landmarks including Hartsfield-Jackson Atlanta International Airport and Mercedes-Benz Stadium, per the U.S. Economic Development Administration. Russell's children donated the original corporate headquarters in 2016 to create the entrepreneurship center that now bears his name. Today RICE operates out of a renovated 54,000-square-foot LEED Silver certified facility in Castleberry Hill featuring coworking areas, innovation labs, and meeting spaces, the federal agency notes.
Closing a Steep Valuation Gap
The capital-focused programming addresses a documented disparity in the local economy. Federal economic analysis cited by the same EDA report found the average white-owned business in Atlanta is valued at $658,264, more than 11 times the $58,085 average valuation of Black-owned businesses in the city.
RICE's broader footprint suggests the scale of what First Fridays feeds into. As of May 2026, the center reported supporting more than 600 full-time entrepreneurs, sustaining 4,125 local jobs, and sparking $557 million in new economic impact across metro Atlanta, according to the Kiwanis Club of Atlanta. That reach has helped fuel RICE's $44.4 million “Beyond Innovation Campaign,” which targets a 2034 goal of accelerating 1,000 Black-owned businesses, creating 3,000 jobs, and producing $2 billion in new economic value, according to RICE.
From a 50-Square-Foot Desk to a $17 Million Firm
RICE President and CEO James “Jay” Bailey has led the center since its founding, scaling its “Big IDEAS” curriculum to guide entrepreneurs from ideation to more than $1 million in annual revenue, per Mastercard Strive USA. Bailey was named a White House Champion of Change in 2012.
One graduate of that pipeline shows what the support can produce. Local construction company Evolve Contractors launched out of a 50-square-foot desk at RICE before scaling to a 5,000-square-foot operation generating $17 million in revenue and securing roofing contracts on Atlanta's $6 billion Centennial Yards project in 2026, according to Black Enterprise. The outlet reports the business relied on RICE executive mentorship during its early stages.
Corporate philanthropy has helped keep programming like First Fridays free. Grants supporting RICE include a $2 million commitment from Truist Foundation in 2024 for technical support and retail accelerators, as well as a $1 million PayPal grant establishing the PayPal Retail Academy, according to the Atlanta Journal-Constitution.
Friday's First Fridays event is free and open to current and aspiring business owners in the Atlanta area, running from 10 a.m. at the Russell Innovation Center for Entrepreneurs in Castleberry Hill.
