InNOLAvation was created to facilitate innovation within the minority community in New Orleans. It started as a tech meetup back in October, with one additional meeting held since then. Now, the nine organizers behind InNOLAvation are excited to announce the 2013 InNOLAvation Challenge, a pitch competition to be held during New Orleans Entrepreneur Week.
The competition is broken into three rounds. The top ten applicants will participate in the first round and only three to five finalists will pitch on March 19th in Gallier Hall. The format of the evening is currently withheld.
Applications will be subject but not limited to the following criteria:
- Founding team must possess a minority owner with at least a 33% equity stake in the business
- Business must be domiciled in or willing to relocate to Greater New Orleans region
- Entrepreneur is seeking to solve a problem affecting a potentially large market of customers
- Entrepreneur has an idea that is exportable and scalable
- Idea must provide a unique solution to the identified problem
- Entrepreneur can demonstrate a track record of industry experience related to the problem they are seeking to solve
- Ideas from any industry are acceptable with the following exceptions:
- Residential and commercial real estate projects
- General Construction Contractors
- Professional service providers (i.e. law and accounting firms)
- Non-profits
There will be 15 judges and panelists who will alternate rounds to, “mix it up and keep ideas fresh,” according to member Damon Burns. He, however, will not be judging to remain objective.
The InNOLAvation team has raised $20,000 and donated services from Goldman Sachs and the New Orleans Startup Fund which will go to the winner during the NOEW Challenge.
Applications are due on February 18th, 2013 and can be submitted via email to info@innolavation.com.
More information can be found at InNOLAvation.com.