Propeller’s Impact Accelerator, sponsored by Advancing Cities, Blue Cross Blue Shield of Louisiana, Capital One Bank, Entergy Corporation, the Greater New Orleans Foundation, Hancock Whitney Bank, The RosaMary Foundation, Thrive New Orleans, US Department of Agriculture, US Small Business Administration, the Weishaupt Foundation, and the W.K. Kellogg Foundation is an interactive 4-month accelerator program that provides entrepreneurs with coaching, community building, curriculum, and technical assistance.
Donor Name: Propeller
State: Louisiana
City: New Orleans
Type of Grant: Accelerator
Deadline: 05/15/2022
Details:
Its vision is an inclusive and thriving entrepreneurial ecosystem in New Orleans that responds to community needs and creates the conditions for an equitable future.
Propeller invites entrepreneurs and leaders from mission-driven organizations to apply for their Impact Accelerator, an interactive 4-month program that helps startup entrepreneurs bring their idea from vision to reality and helps existing entrepreneurs scale their impact and reach. Accessing capital (for-profit and nonprofit), contracts, customers, and community, are key components of the Accelerator, and we accomplish this through a vast and experienced network of mentors, strategy consultants, subject matter experts, program staff, a community of entrepreneurs, and curriculum. Their program enables entrepreneurs to build ventures grounded in financial viability, social impact, racial equity, and a demonstrated commitment to the prosperity of their city and region
Propeller selects Impact Accelerator participants from a competitive pool of applicants who have identified a meaningful problem and have a compelling and unique solution. Ventures are evaluated and accepted based on the following criteria:
- Social and/or Environmental Impact
- Financial Viability
- Entrepreneurial Leadership
- Commitment to Racial Equity
- Focus Area Alignment
Eligibility Criteria
Propeller supports entrepreneurs driving systemic change within their five focus areas. For each focus area, Propeller will prioritize solutions that specifically address the following issues:
- Community Economic Development (CED)
- For-profit brick and mortar businesses owned by Black entrepreneurs in Gert Town, Hoffman Triangle, Central City, Broadmoor, and New Orleans East
- Developers who identify as Black, Indigenous, or people of color (BIPOC) whose work focuses on affordable housing in rapidly gentrifying New Orleans neighborhoods
- BIPOC-led for-profit or nonprofit organizations improving the operating environment of BIPOC entrepreneurs
- Education
- Access to quality early childhood Education, site-based and home-based
- Development of equitable, culturally relevant practices, policies, and approaches in Education systems across New Orleans
- Expanded pathways to vocational Education and job skill development for New Orleanians
- Food
- Consumer packaged good(s) with environmental benefits
- Consumer packaged good(s) with locally sourced ingredients
- Consumer packaged good(s) with health benefits Health
- Healthcare service provision or delivery in partnership with BIPOC communities
- Service provision to impact social and physical determinants of health in partnership with BIPOC communities
- Water
- Urban Water management/green infrastructure
- Coastal environments and restoration
- Urban Water economy
They support entrepreneurs, centering those who are Black, native New Orleanians, who view their businesses as a catalyst for positive change and those who advance anti-racism initiatives. As a member of the Propeller community, their entrepreneurs are encouraged to work collaboratively with persistence, resourcefulness, and a commitment to equity
For more information, visit Propeller.