CRITERIA

CRITERIA TO BE ACCEPTED INTO THE IDEA VILLAGE PROGRAM

OBJECTIVE CRITERIA
Eligible ventures must demonstrate the following characteristics:

• Organized as a for-profit business
  
• Located in the following parishes in the 7-Parish New Orleans Region: Orleans, Jefferson, St. Tammany, Plaquemines, St. Bernard, St. Charles, and St. John parishes
  
• Generates less than $1 million in annual revenue
  
• Employs fewer than 10 full time employees
  
• Has desire to grow business to more than $10 million in annual revenue in 5-10 years
  
• Demonstrates personal investment of capital and/or time in the venture

SUBJECTIVE CRITERIA
Entrepreneurs who meet all objective criteria will be evaluated according to the following subjective criteria. Priority is given to those applications that exhibit the strongest combination of the following attributes:

• Venture demonstrates positive economic and social impact in the New Orleans community
  
• Venture demonstrates the potential to employ knowledge-based workers
  
• Entrepreneur has a solid plan to create a sustainable business model
  
• Management team is passionate, committed and equipped with relevant experience
  
• Entrepreneur can become a positive role model and leader for the New Orleans community
  
• Entrepreneur and venture fit with The Idea Village mission and values
• Preference given for entrepreneurs who incorporate environmental sustainability into their business models

INELIGIBILTY
Entrepreneurs are not eligible if they have received:

• More than $50,000 in grants from The Idea Village
• Previous assistance from The Idea Village and currently do not meet the objective criteria

If your venture does not meet the requirements listed above, please visit the Collaborative Enterprise Development website where you may find additional resources and services from our partners. You may also download the small business resource guide.