March 14, 2023 – Those in startups often talk about The Flywheel Effect, a phrase coined by the American author Jim Collins as a way to describe how momentum builds by accumulating small wins over time. Cities looking to grow as a tech hub talk about the need to spin that flywheel faster in order to attract talent and bring in more capital to fuel new ideas.
Jon Atkinson, CEO of entrepreneurial-focused nonprofit The Idea Village, believes that flywheel is starting to turn faster in the City of New Orleans.
A big push came at the end of 2021, when local startups Lucid (enterprise software) and Levelset (construction and fintech), had sizable exits.