Social innovation hub Propeller has announced the addition of $50,000 in equity investments to their Growth Accelerator through partnerships with the New Orleans Startup Fund and Village Capital.
The top two participants of the 12-week accelerator will receive the funding of $25,000 each. Through Village Capital’s peer-selected investment approach, the winners will be selected by fellow accelerator participants.
“All Accelerator participants will be trained using an award-winning curriculum and through intensive workshops in which entrepreneurs assess one another, provide feedback, and otherwise collaborate with each other and local experts,” shares Propeller.
Propeller’s accelerator program is designed to connect the region’s best high-growth social ventures with the industry resources they need to grow and scale.
“We’re thrilled to be able to offer this additional level of support to the ventures in our Growth Accelerator,” says Propeller Executive Director Andrea Chen. “Connecting entrepreneurs to investment capital is a crucial step forward in Propeller’s strategic plan, as we seek to create lasting solutions to New Orleans’ gaps in food, water, health, and education. Through this partnership, we will bring investment to New Orleans’s fastest growing, highest impact ventures.”
Leslie Jacobs, CEO and President of the New Orleans Startup Fund, said this is a wonderful opportunity for the New Orleans startup community. “We are especially excited to partner with Propeller, which is home to so many ventures that are solving the most pressing challenges in our community.”
The program runs from March 12 to June 7, 2016. Applications are open through the newly extended deadline of February 1st and will be considered on a rolling basis.
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