This EDA investment funds the diversifying and expanding the entrepreneurship pipeline in technology in new orleans (deep tech nola) project, to support the new orleans startup fund to launch deep…
Ended Project Grant Awarded Last action
- Award ID
- ED22HDQ0240176
- Recipient
-
New Orleans Startup Fund, Inc. UEI ZN1UKGVFM7T9
- Awarding agency
-
Economic Development Administration
Department of Commerce
- Obligated
- $2,414,737
Award facts
- Assistance listing
- 11.024 BUILD TO SCALE
- Completion date
- Originally
- Funding
-
- $1,200,000.00 Federal
- $1,214,737.00 Non-federal
- Place of performance
- New Orleans, LA, USA
Award details come from USAspending.gov.
Description
This EDA investment funds the diversifying and expanding the entrepreneurship pipeline in technology in new orleans (deep tech nola) project, to support the new orleans startup fund to launch deep tech nola and enhance the portfolio management capacity and operations of the startup fund. The startup fund will (1) enhance its portfolio management capacity and operations through additional staffing to help more entrepreneurs of color and women navigate the complexities of accessing capital; (2) deliver customized technical assistance to 100+ entrepreneurs who are women or people of color over the next three years to help them progress along the capital access continuum from pre-seed funding to venture capital rounds and exits; and (3) leverage regional partnerships to drive more investment to high-growth technology businesses owned by women and people of color in the region. Once implemented, the startup fund will (1) expand the pipeline of and women and people of color-owned technology entrepreneurs who are ready for seed funding, (2) assist them in moving from initial seed investments to venture capital series rounds that can allow them to create significant numbers of high-skill and high-wage jobs, and (3) strengthen connectivity across the ecosystem to better leverage the region's innovation assets to support people of color and women-owned technology entrepreneurs.
Transactions
| Action | Federal | Non-federal | Date |
|---|---|---|---|
| Amendment | $0 | $0 | |
| Original award | $1,200,000 | $1,214,737 |
Quick answers
Who received award ED22HDQ0240176?
ED22HDQ0240176 was awarded to New Orleans Startup Fund, Inc. by Economic Development Administration (Department of Commerce) on September 22, 2022.
How much is award ED22HDQ0240176 worth?
$2,414,737 has been obligated on ED22HDQ0240176: $1,200,000 in federal funding and $1,214,737 in non-federal funding.
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