Press Release

New Orleans Startup Fund, Propeller Awarded Nearly $2M by EDA to Fuel Innovation and Tech-Based Economic Development

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October 11, 2022 — The New Orleans Startup Fund (NOSF) has been awarded $1.2 million by the U.S. Economic Development Administration (EDA) to accelerate technology entrepreneurship by increasing inclusive access to business support and capital. NOSF, a nonprofit venture fund focused on companies with significant growth potential in the 10-parish Greater New Orleans region, will also increase investment and technical assistance capacity, in conjunction with Propeller, through a $750,000 EDA grant.

“New Orleans is rich in ideas and talent, but entrepreneurs need capital as well as guidance and expertise in order to grow their companies. That’s where NOSF and Propeller come in. We’re proud to have our success, and that of our entrepreneurs, recognized by the EDA and expanded through these grant awards,” said NOSF CEO Jimmy Roussel.

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