Frequently Asked Questions (FAQs)
GENERAL
How much does The Idea Village charge for its services?
The Idea Village is a 501 (c) 3 non-profit, we do not charge fees for any of our services.
I am not from New Orleans. What program(s) can I apply for?
If you are an entrepreneur who is based outside of the Greater New Orleans area, you are welcome to participate in IDEAinstitute and New Orleans Entrepreneur Week, however, all other programs, including IDEAxcelerator, are strictly for entrepreneurs with businesses located in the Greater New Orleans region.
What parishes does The Idea Village serve?
We serve entrepreneurs in the following parishes: Orleans, Jefferson, Plaquemines, St. Bernard, St. John the Baptist, St. James, and St. Tammany. However, there are some exceptions to this rule! IDEAinstitute and most public events during New Orleans Entrepreneur Week are open to all entrepreneurs regardless of geographic location and some focused initiatives may also be open to a broader network.
Does The Idea Village offer internships?
Yes, we do offer internships on a rolling basis. Please contact Victoria Adams (.(JavaScript must be enabled to view this email address)) for more information.
Can I stop by your office to say hello?
If you would like to meet with our team, please access the Entrepreneur Portal to register for information sessions and to learn more about current programming and sessions that are open to the public. We are happy to consider taking an appointment, but we are a small team with a busy schedule so it is always best to please contact us in advance to schedule a meeting.
I’m concerned that if I apply, you won’t protect my intellectual property. Should I be worried about this?
We’re certainly not in the business of stealing ideas and we will not show your application to anyone outside of The Idea Village and our strategic advisors. Each year, we see hundreds of applications and many of them include similar ideas. For this, and other practical reasons, please do not ask us to sign an NDA. Our application does not ask for your “secret sauce” and there is no reason you have to disclose this to us if you’re not comfortable doing so. We hope that our reputation speaks for itself on this topic.
Will you take equity in my business?
No, we do not take equity in any of the businesses that we work with. We are a 501 (c) 3 non-profit that provides all of its services free of charge for entrepreneurs.
Why do you need my personal income, race and ethnicity information?
As a 501 (c) 3 non-profit that is federally funded, we are required to report on the demographics of the entrepreneurs that we serve. This information is reported in aggregate and is not used to individually assess you or your venture.
I have been assisted by The Idea Village before. Can I re-apply?
Absolutely, ideas and businesses are constantly evolving and progressing. We encourage applications from any entrepreneur who believes they will benefit from our programs and services.
Does The Idea Village focus on specific industries?
Entrepreneurs from all industries are encouraged to engage in the programming that takes place during the Entrepreneur Season. Our Strategic Challenge programs elevate entrepreneurs from a particular industry or sector; however, these industries vary from year to year.
Does my company have to be profitable to be eligible?
No, we support entrepreneurs from the idea phase all the way through the revenue generation and later-stage growth phases.
I would like to sign up for the 2013 New Orleans Entrepreneur Week, what should I do?
New Orleans Entrepreneur Week (NOEW) is taking place March 16-22, 2013. Registration for NOEW will open up in early February, 2013. In the meantime, please sign up for our newsletter to receive updates on NOEW programs, events, and registration information.
Does The Idea Village offer office space, and if so how can I go about obtaining an office?
No, we do not provide office space. However, our building mate Launch Pad does! Contact them to set up office space in The IP Building, one of the largest entrepreneurial hubs in New Orleans.
I’m interested in the Water Challenge, how can I sign up?
Applications for the 2013 Water Challenge will open in August in the Entrepreneur Portal. Please stay tuned to The Idea Village website, Facebook, and Twitter for updates.
I’m interested in IDEAcorps, how can I sign up?
IDEAcorps is The Idea Village’s nationally recognized MBA service learning program that connects university resources to provide direct strategic consulting to New Orleans entrepreneurs during New Orleans Entrepreneur Week. For additional information about the program and opportunities to become involved, please contact Victoria Adams, Network Relations Manager, at .(JavaScript must be enabled to view this email address)
What if I have more questions that are not listed here?
If your questions are not answered in this FAQ, please email .(JavaScript must be enabled to view this email address) for more information.
ENTREPRENEUR PORTAL
Why should I register for the Entrepreneur Portal?
The Entrepreneur Portal is the access point for all of our program applications. If you are interested in participating in any of The Idea Village’s programs, you must register with the Entrepreneur Portal. If you are only interested in receiving email updates, please sign up for our mailing list.
Help! I forgot my password!
No worries! Simply click the “Forgot your password” link. This will reset your password and will automatically send you an email with a temporary password and log in instructions.
I registered with The Idea Village but never received a reply with a link to set up an account. What should I do?
We are increasing the functionality of our Entrepreneur Portal. As soon as that process is complete, we will send you an email with your username and password.
I do not see any programs on the Entrepreneur Portal; all I see is a 2013 Entrepreneur Profile?
Completion of the Entrepreneur Profile form is necessary to access enrollment for any of our programs. Once you have completed the 2013 Entrepreneur Profile form you will be able to access all program-specific applications on the Entrepreneur Portal. Please see our application process for more details.
Does The Idea Village share my data?
All information submitted to The Idea Village is considered private and confidential and will not be released to any third party.
IDEAxcelerator
Can I submit multiple business ideas for IDEAxcelerator?
We would prefer that you submit one business or idea for the IDEAxcelerator program application. So funnel all of those great ideas into one strong venture that speaks to you as an entrepreneur and the viability of your potential business.
When will I know if I’ve been accepted into IDEAxcelerator?
Entrepreneurs that have been officially selected to participate in IDEAxcelerator will receive notification no later than September 28th.
Do I have to quit my job if I am accepted into IDEAxcelerator?
While we do seek entrepreneurs who are fully committed to their venture, it is not a requirement that you quit your job if you are accepted into the IDEAxcelerator program.
How do you choose the companies you accept into IDEAxcelerator?
Initial qualification criteria includes being organized as a for-profit venture, located in the Greater New Orleans 7-parish region, generating less than $1M in revenue. Entrepreneurs who meet all qualification criteria are then evaluated based on their application responses versus a robust list of assessment criteria. For further information regarding qualification and assessment criteria, please click here.
When is the deadline to apply and what’s the overall timeline for the IDEAxcelerator program?
The application deadline for IDEAxcelerator is August 27, 2012. However, we encourage you to submit your application early, as interviews will begin on August 13 and appointments for qualified candidates are issued on a rolling basis, dependent on initial assessment. The general timeline consists of the initial application period from July 11 through August 27, first-round interviews, second-round pitches, and final decisions taking place throughout the month of September, with a final decision on program participants being made no later than September 28, 2012.
FUNDING
Can The Idea Village provide me with a grant to start my business?
Grant funding is only available to select entrepreneurs participating in Capital Village programming including Strategic Challenges, The Big Idea, and IDEAxcelerator.
Can your organization help me obtain a small business loan?
The Idea Village does not provide small business loans. However, through Capital Village, The Idea Village helps connect entrepreneurs to capital resources including banks, alternative lenders, and investors.
Will The Idea Village give me capital?
The Idea Village does not make direct equity investments. However, we do provide resources that can assist in preparing you for a pitch for capital investment. The Idea Village does provide grant funding, but grants are only available to select entrepreneurs participating in Capital Village programming including Strategic Challenges, The Big Idea, and IDEAxcelerator.
