Propeller
Propeller grows and supports entrepreneurs to tackle social and environmental disparities. Participants of our programming reflect the demographics of our region, but more specifically, we support Black and Brown entrepreneurs in our immediate vicinity through our Community Economic Development focus area. Participants of our Impact Accelerator in the Community Economic Development sector must be Black or Brown entrepreneurs operating for-profit, brick and mortar storefronts in the specific geographic boundaries surrounding Propeller, or must operate an organization that supports the operating environment for Black and Brown entrepreneurs. Propeller also supports Black-owned businesses through its Social Venture Fund, a $1 million loan fund for entrepreneurs working in our core areas of focus: community economic development, education, food, health, and water.
Since Propeller's first accelerator program in 2011, they have graduated 215 entrepreneurs who have collectively generated over $112 million in revenue and financing, and created more than 485 full-time and part-time jobs for New Orleanians. Through our PitchNOLA competitions, over $200,000 in seed funding has been awarded to entrepreneurs.
Mission
Our mission is to grow and support entrepreneurs to tackle social and environmental disparities. We envision a powerful community of diverse entrepreneurs and stakeholders working together for a more equitable future where everyone can lead healthy, fulfilling lives free of racism, poverty, and other systems of oppression.
Type of Organization
- Community Economic Development Organization
- Lending Organization
Locations Served
- New Orleans, Louisiana
Key Programs and Initiatives
- Impact Accelerator — Community Economic Development
- Social Venture Fund
Types of Offerings
- Financing
- Capital
- Entrepreneurial Training
- Workshops
- Matchmaking/networking opportunities
- 1 to 1 business advising
- Mentoring/coaching
- Business incubation
- Accelerator
- Advisory/Consulting Services
- Technical Assistance
Program Delivery
- In Person
Members of the Black Community Served
- Returning Citizens/Formerly incarcerated
- Women
- Youth
Locations of Members of the Black Community Served
- Low-income areas
- Low to moderate income areas
- Rural areas
- Suburban areas
- Urban areas
Targeted Entrepreneur Segments
- Business Services
- Construction
- Wholesale & Retail Trade
- Accommodation & Food Services
- Media & Publishing
- Health Care & Social Services
Business Stage
- Start Up : a young business that is just beginning to develop and determine a market fit.
- Stay Up : a business that has determined its market fit, but its product/service has not been validated nor has it achieved sustainability.
- Scale Up : a business that already validated its product in a market and has proven sustainable.
Cost of Programs
- Free