Propeller announced today that its core program, the Propeller Social Venture Accelerator, has received a 3-year, $1.295 million investment from the the W.K. Kellogg Foundation.
“We are grateful to Kellogg for recognizing the crucial impact of Propeller Fellows and programs,” announced Propeller.
Propeller programs include:
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The Healthy School Food Collaborative (‘12) administers over $6.5 million in federal reimbursements to bring healthy school meals to 39% of all public schools in New Orleans.
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Griffin Law Group (’13) has awarded over $200,000 (and counting!) in disability benefits to families.
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The Justice and Accountability Center (’12) has served over 1,000 clients for criminal record expungements to allow misdemeanor non-violent offenders to return to work instead of prison.
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PitchNOLA has served as a platform for community solutions with cash prizes totaling $50,500.
This funding will enable Propeller to deepen its social impact, drive innovation, and incubate financially viable solutions in the areas of public health, education, food access and economic development for vulnerable children and families.
“The work of social entrepreneurs is positively impacting the health and well-being of our children and families by increasing the quality or access to healthy food and programs in the community.” said William Buster, Director of New Orleans Programming at W.K. Kellogg Foundation. “Additionally, social entrepreneurs are concurrently building economic stability for our most vulnerable families and communities.”
To date, the Propeller Social Venture Accelerator has incubated 36 ventures. During the 10-month 2012-13 Accelerator, the program produced $3.2 million and 32 incremental new jobs. The 2011-12 Accelerator generated $2.2 million and 40 new jobs. Read more about the missions and impact of Propeller Alumni.
Propeller has opened applications for the fourth Social Venture Accelerator class (2014-2015). They are seeking another group of socially minded, early-stage ventures with viable solutions to New Orleans’ biggest challenges.
For more information about Propeller visit gopropeller.org.