Three New Orleans organizations have received grants from the U.S. Small Business Administration to help support growth, which was announced at the first-ever White House Demo Day.
Propeller: A Force For Social Innovation, The Idea Village, and PowerMoves.NOLA each will receive grants for the coming year as part of a nationwide effort that will provide $4.4 Million to accelerators that are supporting early-stage startups.
The 80 grant recipients represent dozens of states serving entrepreneurs in a broad set of industries and sectors – from manufacturing and tech start-ups, to farming and biotech.
“This year our accelerator is growing — from 15 entrepreneurs each year to over 40 — as we expand to four Startup accelerators and add a new Growth Accelerator track,” explains Propeller’s executive director Andrea Chen. “The SBA award will be vital to growing our staff capacity to expand our program, and we are honored to be selected.”
“SBA is continuing to make advances in supporting unique organizations that help the start-up community grow, become commercially viable, and have a real and sustained economic impact,” said SBA Administrator Maria Contreras-Sweet today. “Through the wide-spread outreach of this competition, we are able to reach entrepreneurial ecosystems across the nation. My commitment is to make our resources available to 21st century entrepreneurs where they are, and these accelerators are the gathering place for today’s innovators and disruptors.”