Who are the Russells?

Who are the Russells?

Herman J. Russell H.J. Russell & Co. is the largest minority-owned real estate and construction company in the United States. The company was founded by Herman J. Russell in 1953 and remains proudly headquartered in Atlanta.

Herman J. Russell was one of the most successful African-American business owners in U.S. history. In addition to being a skilled entrepreneur, Herman was a respected and influential community member who provided decades of support for the civil rights movement, the advancement of students and entrepreneurs of color, and the development of the city of Atlanta.

Legacy Herman Russell s children Donata, Jerome and Michael have committed to honoring their father s entrepreneurial legacy by establishing the Russell Center for Innovation and Entrepreneurship, a unique business incubator and ideation campus dedicated to the concept of inclusive innovation.

Atlanta s Growth The Russell family is deeply invested in the social and economic health of Atlanta. Russell Center for Innovation and Entrepreneurship will contribute to the city s long-term growth, as well as to the advancement of and opportunity set available to entrepreneurs of color.

What is the Russell Center for Innovation & Entrepreneurship?

Russell Center for Innovation and Entrepreneurship will be an independent, world-class business hub that exemplifies and supports minority entrepreneurship and access to opportunity. RCIE The RCIE will provide a diverse community of entrepreneurs with a world class ideation space and an empowering, well-resourced network of potential tech-focused collaborators. The RCIE will offer a best-in-class co-working space, dynamic startup incubator, rigorous accelerator curriculum, collaborative forum for early-stage entrepreneurs, and dedicated lab-to-market facility.

Plans for the RCIE have inspired the adaptive reuse of the 40,000-sq. foot H.J. Russell & Co. headquarters, located at 504 Fair Street.

The RCIE site is located less than a 10-minute walk from four prestigious HBCUs Morehouse School of Medicine, Morehouse College, Spelman College, Clark Atlanta University and is close to Georgia Tech and Georgia State as well. The RCIE will open its doors to a wide range of individuals and startups. Although diversity is a key emphasis of the RCIE, the center will not exclude qualified majority entrepreneurs.

User-created map of known co-working/incubator spaces in Midtown and Downtown Atlanta (starred). The lone star in the bottom left quadrant (circled, in blue) is the proposed site of the Russell Center for Innovation and Entrepreneurship, at 504 Fair St.

Mission & Vision Development efforts are underway, and several influential organizations have expressed interest in supporting the RCIE s unique mission and vision. The Russell family has held discussions with the Department of Commerce, the Department of Energy, the Environmental Protection Agency and the White House My Brother s Keeper initiative to explore prospective partnerships and resources for the Center.

Why does Atlanta need another incubator?

Level Playing Field The diversity of Atlanta s entrepreneurial ecosystem its mentors, incubators, investor networks and entrepreneur support organizations does not match the diversity of the city. As entrepreneur and philanthropist Mitch Kapor has observed, Genius is evenly distributed across zip codes but opportunity is not. The RCIE seeks to equalize the playing field in Atlanta and beyond by assisting minority entrepreneurs in overcoming barriers to entry that they encounter as they seek to enter the marketplace.

Mentoring Investment Inspiration The RCIE will serve as a visible and inclusive avenue for all individuals to receive the mentoring, investment and inspiration they need to launch a thriving business. Because not all of Atlanta s start-up founders are young people or recent college graduates, the Russell Center for Innovation and Entrepreneurship will also focus on addressing generational barriers to entry by facilitating access to capital, business consultation and vital services needed to launch an enterprise.

The RCIE s primary focus on the needs of entrepreneurs distinguishes it from similar organizations that cater to start-ups from specific industrial sectors, such as technology or manufacturing. RCIE s Focus There is an unmet need for the inclusive deployment of resources to tech-focused entrepreneurs in historic Castleberry Hill and throughout Southwest Atlanta. Despite the recent proliferation of such sites elsewhere in the city (e.g., Midtown, Buckhead and Downtown), there are currently no incubators or co-working spaces west of Marietta Street downtown.

How will Atlanta benefit?

Opportunity Entrepreneurship Inclusion Incubators are a good place to begin. Historically, surveys have reported that 87 percent of all firms that have graduated from incubators are still in business. By strengthening local minority business networks and helping new start-ups get off the ground, the RCIE will help local entrepreneurs stay and thrive in Atlanta. The RCIE seeks to harness the wealth of minority talent present in Atlanta by partnering with HBCUs to fast-track enterprising young adults towards successful business ventures and career leadership roles. By partnering with the RCIE, individuals, foundations and corporations will strengthen their brands through an emphasis on opportunity, entrepreneurship and inclusion.

Economic Development RCIE aims to be a catalyst for broader economic development and real estate development in Atlanta. The RCIE will seek to capitalize on several aspects of Atlanta s commercial market that make it an excellent base for business development resources and new entrepreneurial ventures.

Atlanta is the one of the nation s fastest growing cities. Atlanta is the business capital of the South, about two hours trip to 80 percent of the U.S. population. Why Atlanta? Atlanta is the world s financial technology center, processing 80 percent of all credit card transactions worldwide. Atlanta is a national leader in public health research and healthcare technology home to the CDC, CARE, Task Force for Global Health and the American Cancer Society.