The Idea Village and the Greater New Orleans Foundation announced yesterday the launch of the third annual Water Challenge, which targets entrepreneurs and their innovative solutions to water issues and how we live with water. Water is such an important part of Southeast Louisiana, it is only appropriate local entrepreneurs are given the opportunity to explore and grow their solutions that can potentially be scaled to a global level.
As the Challenge expands this year, entrepreneurs, innovators, and organizers are hoping to, “solidify our region’s position as a business leader in the water industry.” Entrepreneurs will be selected in December of this year to participate in the three month accelerator program managed by The Idea Village Entrepreneurs-in-Residence (EIRs).
On March 18th, 2013, during the 5th annual New Orleans Entrepreneur Week (NOEW) and Water Challenge Day, finalists will pitch for a chance to win $50,000 in seed capital courtesy of GNOF.
The Water Challenge is a three-phase program. Applicants who meet the following criteria will be given a chance to participate in the program that runs from October to December:
- Entrepreneur has an idea or business that addresses a specific water problem relevant to Southeast Louisiana
- Entrepreneur has identified an idea that can be commercialized
- The proposed solution/ idea is exportable and scalable
- Entrepreneur and venture are taking an innovative approach to solving this problem
- Entrepreneur is committed to participating in the educational and consulting program
- Entrepreneur and business are based in the Coastal 5 plus 1 region, which includes the following parishes: Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. Tammany, & Terrebonne
- The business is generating less than $1 million in annual revenue and has fewer than 10 full time employees
Applications for the Water Challenge are due by 11:59 pm CST on October 15, 2012. Download the Water Challenge FAQ page here or visit IdeaVillage.org for more information.