IDEAxcelerator is an intensive business accelerator for 15 high-growth ventures managed by a team of Entrepreneurs-In-Residence (EIRs). Providing customized business strategy, marketing support, financial guidance, and general best practices, this comprehensive program leverages the experience and mentorship of the EIRs and The Idea Village’s influential network of strategic partners to ensure that participating entrepreneurs receive the resources necessary to accelerate the growth of their business and develop the skills required to emerge as entrepreneurial leaders.
• Mentorship & Support: Receive mentorship from business executives, entrepreneurs, and MBA students.
• Access to Networks: Receive access to a network of local and national investors, mentors, and professional service providers.
• Access to Capital: Receive direct access to local lending institutions, angel investor networks, and top venture capital firms.
• Education: Receive targeted training in the fundamentals of entrepreneurship through IDEAinstitute.
• Exposure: The Idea Village has secured media coverage for entrepreneurs in Inc.com, Entrepreneur Magazine, Forbes, Financial Times, The Daily Beast, The Wall Street Journal, Times-Picayune, CNBC, NPR, and Bloomberg TV.
IDEAxcelerator Qualification Criteria
In order to apply, entrepreneurs must:
- Be organized as a for-profit business.
- Be located in the 7-parish New Orleans region: Orleans, Jefferson, Plaquemines, St. John, St. Charles, St. Tammany, and St. Bernard.
- Generate less than $1M in annual revenue.
IDEAxcelerator Assessment Criteria
Entrepreneurs who meet all qualification criteria above will be evaluated according to the following assessment criteria. Priority is given to those applications that demonstrate the strongest combination of the following:
- Entrepreneur(s) has identified a problem and is pursuing an innovative solution to fill that need.
- Entrepreneur(s) has a defensible competitive advantage.
- Entrepreneur(s) has a customer base that is large enough to scale the venture.
- Entrepreneur(s) has the capacity to leverage constructive feedback and integrate advice and counsel.
- Entrepreneur(s) has the ability to manage uncertainty and ambiguity and to take measured risk.
- Entrepreneur(s) is committed to the venture full-time.
- Entrepreneur(s) has relevant experience.
- Entrepreneur(s) is willing to share experiences and expertise with peers and to serve as a role model for the entrepreneurial community in New Orleans.
- Venture has a business model that is viable and scalable.
- Venture has a capable, committed, and cooperative management team that has made significant personal investment in the business to date.
- Venture has a high potential for positive economic, social, and/or environmental impact in the New Orleans region.
- Venture aligns with The Idea Village mission.
- Venture’s needs align with The Idea Village programming and resources.
Hear What Entrepreneurs are saying about IDEAxcelerator:
“We went from concept to product in six-months. Enough said. The competitive atmosphere leading up to NOEW helped facilitate the rapid progression of our business and product launch. IDEAxcelerator… What an ICONIC program!”
Billy Bosch, Co-founder of Be Well Nutrition, a 2012 IDEAxcelerator participant
“IDEAxcelerator equipped us to grow NOLA Brewing beyond a local company and into a regional brewery. We are well on our way to joining the ranks of the best national microbreweries.”
Kirk Coco, founder and CEO of NOLA Brewing Company, a 2011 IDEAxcelerator participant
“IDEAxcelerator helped me develop a sound financial model and strategic growth plan enabling Kickboard to expand from six schools to 15.”
Jen Medbery, Founder of Kickboard by Drop the Chalk, a 2010 IDEAxcelerator participant
Ready to get involved?
Applications for the 2014 IDEAxcelerator will open on July 15, 2013.