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Time is operating out to use for the Thought Village’s VILLAGEx startup accelerator program geared in direction of Gulf South area corporations in search of to lift not less than $1 million in capital throughout the subsequent 24 months.

Functions will probably be accepted via November 1 at: https://www.ideavillage.org/villagex.

“VILLAGEx is a extremely aggressive program, designed to speed up the expansion of startups in methods that can affect not simply the businesses themselves, however your complete Gulf South area,” mentioned Andrew Albert, packages director for The Thought Village. “Should you’re an organization addressing distinctive challenges and end up at an inflection second of progress, we encourage you to use.”

VILLAGEx is a four-month program that runs from January via Could. Ten chosen startups will be related with the mentorship, assist, and assets wanted to scale their companies quickly. Upon completion of this system, alumni corporations will probably be eligible for a $100,000 funding alternative through the Momentum Fund, offered they meet fund standards.

The Momentum Fund is a personal $6.7 million fund established by The Thought Village to particularly put money into VILLAGEx corporations, construction founder-friendly affected person capital for the area, and supply long-term sustainability for the nonprofit enterprise accelerator. One of many Momentum Fund necessities contains that VILLAGEx graduate startups should be capable to elevate two occasions the quantity allotted by the Momentum Fund. The common funding by the Momentum Fund is roughly $100,000.

“The Momentum Fund exists to fund the breakout corporations that full The Thought Village’s marquee VILLAGEx accelerator,” mentioned Jon Atkinson, CEO of The Thought Village. “The fund, supported by personal restricted companions and the brand new state SSBCI program, extends the group’s attain whereas deepening its affect on corporations served. It’s going to enable The Thought Village as a 501c3 nonprofit to assist VILLAGEx corporations over the long run and, finally, take part of their successes.”

VILLAGEx alumni corporations embody the likes of Glass Half Full and WRSTBND. Glass Half Full – a 2023 VILLAGEx alum and Momentum Fund recipient – is setting up a three-acre recycling plant in Chalmette, on the shores of Bayou Bienvenue. WRSTBND, an event-tech startup and VILLAGEx 2022 alum, lately made headlines after AXS, a world chief in ticketing, acquired a majority stake within the firm.

The Thought Village, a nonprofit, champions innovation and entrepreneurship in New Orleans and all through the Gulf South. Since its founding in 2000, The Thought Village has supported over 18,000 entrepreneurs with mentorship, teaching, and entry to capital. Alumni corporations have generated greater than $2 billion in regional financial affect.