Beyoncé’s Renaissance World Tour is doubling as a philanthropic tour.
Her charity foundation, BeyGood, announced on April 20 that it is donating $2 million to entrepreneurs and students while the most-Grammy-winning artist tours the country for her latest album “Renaissance.”
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.
“We are keenly aware of the barriers to access, opportunity, and resources that disproportionately impact BIPOC communities,” McGregor said. “Our work is rooted in the belief that education, pathways for employment and support of entrepreneurship are vehicles that help drive sustainable outcomes.”
Beyoncé founded BeyGood in 2013 during her Mrs. Carter Show World Tour. Since then, the charitable initiative has donated to educational efforts, disaster relief, food, water and housing security, mental health resources and career development in the US and abroad.
“I am hugely proud of the work we have done over a decade at BeyGOOD, here in the US and around the world,” Beyoncé said in a statemetn. “From scholarships to the water crisis in Burundi, to helping families during Hurricane Harvey in my hometown, Houston, it has been beyond fulfilling to be of service.
“Now, as a foundation, we will continue the work of engaging partners through innovative programs to impact even more people," she continued.