U.S. Sen. David Vitter (R-La.), Chairman of the Small Business & Entrepreneurship Committee, today announced three Louisiana-based winners of the U.S. Small Business Administration’s (SBA) Growth Accelerator Fund Competition, including PowerMoves.NOLA, Propeller: A Force for Social Innovation, and The Idea Village.
“Start-ups will play a large part in the future of innovation and entrepreneurship in Louisiana, which is why I am proud to see these New Orleans small businesses achieve recognition for their hard work and dedication on a national level,” said Vitter. “Congratulations to PowerMoves.NOLA, Propeller: A Force for Social Innovation, and The Idea Village, and thank you for your commitment to building business and fostering entrepreneurship in Louisiana.”
Launched in 2014, the SBA’s Growth Accelerator Fund Competition provides support to organizations aiding in small business start-up development. Applicants to the competition compete for cash prizes through special categories known as “ecosystems.” The ecosystems are designed to support often overlooked entrepreneurial areas, such as the underserved, women, the maker community, and geographic regions which traditionally have limited access to capital. Each of this year’s eighty winners will receive $50,000 from the SBA and will commit to quarterly reporting for one year on jobs created, funds raised, startups launched, and corporate sponsors obtained – information the SBA will use to gauge the productiveness of the program.
This year’s winners represent thirty-nine states, the District of Columbia, and Puerto Rico.