Propeller’s Impact Accelerator is a 5-month program that provides mission-driven entrepreneurs with coaching, community building, curriculum, and technical assistance to grow their businesses.
Donor Name: Propeller
State: Louisiana
City: New Orleans
Type of Grant: Program
Deadline: 05/12/2024
Size of the Grant: Not Available
Grant Duration: Less than 1 Year
Details:
In the Impact Accelerator, Propeller works with entrepreneurs to catalyze transformational growth. Propeller connects entrepreneurs with the contract opportunities, markets, and customers to put their businesses on the fast track for growth.
Ventures begin their Impact Accelerator experience by working with experienced, dedicated mentors to set ambitious yet achievable goals for growth and long-term sustainability, tailored to the needs of your business. Each venture receives support from subject matter experts to provide project assistance and access to entrepreneurial curriculum to remove speed bumps to growth.
Propeller’s Impact Accelerator is sponsored by the Clif Family Foundation, Capital One, Nasdaq, RosaMary Foundation, WK Kellogg Foundation, Baptist Community Ministries.
Focus Areas
- Community Economic Development
- In community economic development, Propeller’s Impact Accelerator supports BIPOC entrepreneurs operating brick and mortar establishments along the Broad Street corridor, in New Orleans East, and in Central City seeking to grow their revenues and staff.
- Education
- In education, Propeller’s Impact Accelerator supports entrepreneurs working in the service provision or delivery of early childhood education and care from birth to eight years of age.
- Food
- In food, Propeller’s Impact Accelerator supports entrepreneurs who have an existing consumer packaged goods (CPG) brand with an emphasis on sustainable, healthy, and affordable products made with locally-sourced ingredients.
- Health
- In health, Propeller’s Impact Accelerator supports entrepreneurs who provide direct health and wellness services, including clinical care, and services that address the social and physical determinants of health in the built environment and community context domains. Propeller prioritizes entrepreneurs who serve a BIPOC client base.
- Water
- In water, Propeller’s Impact Accelerator focuses on supporting entrepreneurs working in the fields of green infrastructure, urban stormwater management, native plants cultivation, and coastal restoration.
Benefits
Impact Accelerator participants have regular Lead Mentor office hours to set goals for growth and sustainability, receive support from Subject Matter Experts, and attend in-person meetups to access entrepreneurial curriculum. A summary of program benefits include:
- 16+ hours of Lead Mentor Office Hours
- 12+ hours of business development curriculum during Meetups
- 20+ hours to work with Subject Matter Experts on projects related to business growth goals
- A detailed work plan laying out revenue, capital, and social/environmental impact goals
- Coaching to embed racial equity, social and environmental impact goals into business operations
- Introductions to key community stakeholders
- Free coworking office space at Propeller’s facility
- Membership in a cohort of 20 like-minded entrepreneurs, as well as a network of over 250 alumni.
Eligibility Criteria
Propeller is seeking growth stage entrepreneurs with plans to scale revenues and teams over the next 12 months in Propeller’s five areas of focus: community economic development, education, food, health, and water.
- Community Economic Development
- Eligibility Category: Black-owned Brick and Mortar Storefronts
- For-profit
- Operating a brick-and-mortar storefront
- Headquartered on or along North/South Broad Street, Central City, or New Orleans East
- Majority (50%+) owned by Black entrepreneur(s)
- Preferred: Storefront business that has existed in the neighborhood for 3+ years with the desire to stay in the neighborhood, create livable wage jobs, and build strong community ties
- Preferred: Businesses with stated intention of growing revenues and team through commercial and/or government contracts.
- Eligibility Category: Black-owned Brick and Mortar Storefronts
- Education
- Eligibility Category: Early Childhood Education
- For-Profit or Non-Profit
- Supports service provision or delivery of early childhood education and care from birth to eight years of age
- Plans to increase enrollment, grow staff, and/or expand business location within the next 12 months.
- Eligibility Category: Early Childhood Education
- Education
- Eligibility Category: Consumer Packaged Goods
- Entrepreneurs who have an existing consumer packaged goods (CPG) brand that are one or more of the following:
- Environmentally sound
- Locally sourced
- Healthy
- Or have other compelling social or environmental impacts
- Propeller will prioritize companies led by BIPOC entrepreneurs, especially those seeking to increase sales through growth of wholesale outlets.
- Eligibility Category: Consumer Packaged Goods
- Health
- Eligibility Category: Direct provision or delivery of healthcare
- For-profit or nonprofit with earned revenue
- Providing direct clinical care or healthcare
- Preferred: Entrepreneurs serving a BIPOC client base
- Preferred: Entrepreneurs seeking to make healthcare more accessible to New Orleanians
- Preferred: Entrepreneurs seeking to grow their staff in the next 12 months
- Eligibility Category: Provision of services impacting social and physical determinants of health
- For-profit or nonprofit with earned revenue
- Providing services impacting social and physical determinants of health
- Preferred: Entrepreneurs serving a BIPOC client base
- Preferred: Entrepreneurs seeking to make healthcare more accessible to New Orleanians
- Preferred: Entrepreneurs seeking to grow their staff in the next 12 months.
- Eligibility Category: Direct provision or delivery of healthcare
- Water
- Eligibility Category: Green Infrastructure and Stormwater Management
- Currently working urban stormwater management or green infrastructure
- For-profit or nonprofit with earned revenue
- Currently working urban stormwater management or green infrastructure
- Eligibility Category: Coastal Restoration
- Currently working or seeking to work in coastal restoration
- For-profit or nonprofit with earned revenue
- Eligibility Category: Native Plant Cultivation
- For-profit or nonprofit with earned revenue
- Priority: increasing supply of native plants to be used in green infrastructure projects.
- Eligibility Category: Green Infrastructure and Stormwater Management
For more information, visit Propeller.
