March 16, 2023 — Entrepreneurs across the state will have the opportunity to apply for venture capital funding and business development resources as part of a new start-up accelerator program funded by Techstars and Louisiana Economic Development.
Techstars, a global investment business that provides access to capital, one-on-one mentorship and programming for early-stage entrepreneurs, will operate the new program as part of the $80 million Advancing Cities Fund raised through the J.P. Morgan Private Wealth platform last fall. New Orleans was among nine cities selected to house the program, which is designed to create opportunities for wealth creation among a diversified range of founders often constrained by institutional, structural and systemic barriers.
“Techstars is the largest startup network in the world, with more than 8,000 founders, 5,000 mentors, 300 corporate partners, thousands of investors, and 54 programs in 14 countries,“ said Michael Hecht, president and CEO of Greater New Orleans Inc., in a press release. “Having Techstars in our market will not only provide impactful funding and mentorship to our startups, it reinforces that greater New Orleans belongs in the ‘big leagues’ for innovation.”