New Initiative Expected to Position New Orleans as a Minority Start-up Hub

 

NEW ORLEANS, LA, June 17, 2014 – PowerMoves.NOLA is a new national initiative about creating power through opportunity – the opportunity of high-growth minority entrepreneurship.  Its focus is to provide access to capital, connections and guidance to increase the number of venture-back minority entrepreneurs. Launching in partnership with the 2014 Essence Festival, July 3-5, PowerMoves.NOLA will kick off with a weekend chock full of events, including three Power Pitch events, during which 20 minority entrepreneurs in various stages of business development will participate. The winners of each pitch will be awarded $25,000. PowerMoves.NOLA is showcasing the innovation that a diverse entrepreneurial community can provide. The events are:

Three Power Pitch events (winners each receive $25,000):

Additionally, PowerMoves.NOLA will offer a Risingstars Boot Camp presented by Techstars:

  • A two-day intense startup program for 20 early stage entrepreneurs and demo day presentation to investors
  • One entrepreneur will be selected for a PowerMoves.NOLA Fellowship program and $50,000
  • One entrepreneur will be awarded $25,000
  • Up to five entrepreneurs will be selected for the ongoing Risingstars mentorship program

To register to attend one or all of the three Power Pitch events July 4th and 5th, follow this link Register

Over the weekend these forty entrepreneurs will pitch their ideas, expand their networks, and foster connections and relationships that will help them grow their businesses,” said PowerMoves.NOLA Founder Leslie Jacobs, CEO of the New Orleans Startup Fund. 

The PowerMoves.NOLA initiative was announced recently in a press conference by Ms. Jacobs, New Orleans Mayor Mitch Landrieu, representatives of Chevron, the 2014 ESSENCE Festival™ Presented by Coca-Cola®, Greater New Orleans, Inc. (GNO, INC), the New Orleans Business Alliance (NOLABA), and a host of dignitaries and business leaders.

A project of the New Orleans Startup Fund, PowerMoves.NOLA is designed to increase the number of America’s venture-backed minority businesses by leveraging the entrepreneurial ecosystem, resources and culture of New Orleans.

“PowerMoves.NOLA is a powerful demonstration that New Orleans is open for business. As the nation's leader in entrepreneurship, New Orleans is ready to support and empower talented minority entrepreneurs looking to launch and expand their businesses. By spurring innovation, building wealth and creating jobs in our city, this new initiative will become a national model and a catalyst to accelerating economic opportunity and growth for minority businesses,” said New Orleans Mayor Mitch Landrieu.

Throughout the year, PowerMoves.NOLA will also:

  • Build a "rolodex" of high impact individuals and subject matter experts willing to commit 5 hours to help an entrepreneur of color;
  • Connect the high growth companies who participated in this year's PowerMoves.NOLA's pitch events to an individual or a firm they want to be connected to to assist them with shaping and executing their strategy; and
  • Travel the country to talk about African American and Latino entrepreneurship and identify/source African American and Latino startups that should apply for next year's PowerMoves.NOLA pitch events, bootcamp or fellowship.

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About PowerMoves.NOLA

PowerMoves.NOLA is a national initiative designed to increase the number of America’s venture-backed minority businesses by leveraging the entrepreneurial ecosystem, resources and culture of New Orleans.

Headquartered in New Orleans, PowerMoves.NOLA's mission is to address the generational challenges of wealth and economic development with innovative ideas, fresh approaches, and an overall commitment to equity and diversity as a growth strategy.

PowerMoves.NOLA can be found online and in social media at www.powermovesnola.org, @powermovesnola, Facebook, LinkedIn.

Contact:          Lynn McReynolds, 410-268-0275

                      McReynolds Elek Communications

 

 

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