Entrepreneur Support Organization The Idea Village has announced the launch of IDEAfuel, a new program aimed at increasing the diversity, equity, and inclusivity of the region’s startup community. IDEAfuel will focus solely on supporting and funding startups founded by Black, Indigenous, and other People of Color (BIPOC).
The program, supported by AT&T, has already awarded tens of thousands of dollars to BIPOC founders this week alone at New Orleans Entrepreneur Week (NOEW). Louisiana native Arielle Brown, founder of Bea’s Bayou Skincare, and Eddie Davis, founder of Matchups were presented $15,000 each to use to continue working on their ventures beyond the IDEAinstitute idea-stage accelerator program.
“The goal of the IDEAfuel program is to begin to address the significant shortage of support and capital for BIPOC-founded startups as they navigate the early stages of going to market.,” shared The Idea Village.
In addition to funding the select startups, the IDEAfuel pilot program provides six months of mentorship plus access to The Idea Village’s mentor network.
All participating ventures were selected based on the evaluation of the product, team, traction, and market. “IDEAfuel’s selection criteria for early-stage founders that recently completed IDEAinstitute include Product Vision, Background, Execution Capacity, Market Opportunity, and Coach-ability.”
To learn more, visit ideavillage.org/ideafuel.