The Southeast Louisiana Energy Initiative (SELI) is an association of energy industry executives located in Southeast Louisiana who have come together to support the growth, expansion, and development of the oil and gas industry in the region. The organization has partnered with The Idea Village, a New Orleans-based entrepreneurial hub, to launch business accelerator ENERGYx.
SELI and The Idea Village are committed to creating an ecosystem that will foster the growth of energy startups. The 12-week program will select three to five Louisiana oil and gas startups for participation.
The state of Louisiana is experiencing an energy and petrochemicals boom, according to Greater New Orleans, Inc. “Energy-catalyzed investments in petrochemicals, advanced manufacturing, and the energy industry, totaling in excess of $21 billion will likely be the largest jobs creator in Southeast Louisiana for years to come.”
ENERGYx will be led by private equity investor Hank Torbert, who will act as the Entrepreneur-In-Residence (EIR) for the program, meeting with participants once a week. He has industry experience in oil and gas, alternative energy, transportation and technology, and has also launched and expanded on relevant businesses.
Torbert says the program will give participating founders access to seasoned industry executives and influencers from all aspects of the energy sector, including, investors, operators, regulators, and other experts. “My focus will be mentoring and enabling these startups so that they can scale and be positioned to thrive in the industry.”
The accelerator with conclude in December, with select startups chosen to shift into The Idea Village’s CAPITALx program centered on connecting startups to investors. The second track culminates during the 8th annual New Orleans Entrepreneur Week in March. Participants could win the $75,000 cash prize.
Applications for ENERGYx are open on The Idea Village’s website through Friday, September 4th.