Editor’s note: This post is the first in a new weekly series on start-up funding. Pauline Willeford of Venturable, LLC will cover various funding options, federal and state incentives, and the experiences of entrepreneurs in getting their ventures funded. We hope you enjoy the series, and welcome to the Silicon Bayou News team, Pauline!
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New Orleans is home to many up-and-coming startups in markets such as biotechnology, digital media and alternative energy. But where’s the funding? Historically there’s been a gap in available capital for these industries in Louisiana, a problem that has only gotten worse during the recession (not to mention the big investment banks, venture capital and private equity firms aren’t located anywhere near here). So how do you grow your company without access to traditional sources of financing?
New Orleans innovators are combating this challenge by creating platforms, organizations, and policies that spur new ways to finance business. The deficiency in traditional resources has cultivated an environment in which entrepreneurs and policy makers are rethinking the way lending and investing should be. As a result, many local businesses are successfully finding new ways to finance their companies at home.
Pauline Willeford is the founder of Venturable, LLC – a strategy consulting firm helping start-ups and small business grow.
In this series of posts, I will showcase how entrepreneurs can access funding in New Orleans by covering topics such as alternative lending platforms, angel investors/groups, accelerator programs, venture funds, and tax credits. Raising capital is difficult no matter where your company is located. It’s my intention to show you how New Orleans is actually a prime location to finance and grow your startup.
If you have any questions about raising capital or have a particular topic that you would like me to cover, please email me at pauline@theventurable.com.