Propeller’s Impact Accelerator is a 5-month program that provides mission-driven entrepreneurs with coaching, community building, curriculum, and technical assistance to grow their businesses.
Donor Name: Propeller
State: Louisiana
City: New Orleans
Type of Grant: Program
Deadline: 05/12/2024
Size of the Grant: Not Available
Grant Duration: Less than 1 Year
Details:
In the Impact Accelerator, Propeller works with entrepreneurs to catalyze transformational growth. Propeller connects entrepreneurs with the contract opportunities, markets, and customers to put their businesses on the fast track for growth.
Ventures begin their Impact Accelerator experience by working with experienced, dedicated mentors to set ambitious yet achievable goals for growth and long-term sustainability, tailored to the needs of your business. Each venture receives support from subject matter experts to provide project assistance and access to entrepreneurial curriculum to remove speed bumps to growth.
Propeller’s Impact Accelerator is sponsored by the Clif Family Foundation, Capital One, Nasdaq, RosaMary Foundation, WK Kellogg Foundation, Baptist Community Ministries.
Focus Areas 

Community Economic Development

In community economic development, Propeller’s Impact Accelerator supports BIPOC entrepreneurs operating brick and mortar establishments along the Broad Street corridor, in New Orleans East, and in Central City seeking to grow their revenues and staff.

Education

In education, Propeller’s Impact Accelerator supports entrepreneurs working in the service provision or delivery of early childhood education and care from birth to eight years of age.

Food

In food, Propeller’s Impact Accelerator supports entrepreneurs who have an existing consumer packaged goods (CPG) brand with an emphasis on sustainable, healthy, and affordable products made with locally-sourced ingredients.

Health

In health, Propeller’s Impact Accelerator supports entrepreneurs who provide direct health and wellness services, including clinical care, and services that address the social and physical determinants of health in the built environment and community context domains. Propeller prioritizes entrepreneurs who serve a BIPOC client base.

Water

In water, Propeller’s Impact Accelerator focuses on supporting entrepreneurs working in the fields of green infrastructure, urban stormwater management, native plants cultivation, and coastal restoration.

Benefits
Impact Accelerator participants have regular Lead Mentor office hours to set goals for growth and sustainability, receive support from Subject Matter Experts, and attend in-person meetups to access entrepreneurial curriculum.  A summary of program benefits include:

16+ hours of Lead Mentor Office Hours
12+ hours of business development curriculum during Meetups
20+ hours to work with Subject Matter Experts on projects related to business growth goals
A detailed work plan laying out revenue, capital, and social/environmental impact goals
Coaching to embed racial equity, social and environmental impact goals into business operations
Introductions to key community stakeholders
Free coworking office space at Propeller’s facility
Membership in a cohort of 20 like-minded entrepreneurs, as well as a network of over 250 alumni.

Eligibility Criteria 
Propeller is seeking growth stage entrepreneurs with plans to scale revenues and teams over the next 12 months in Propeller’s five areas of focus: community economic development, education, food, health, and water.

Community Economic Development

Eligibility Category: Black-owned Brick and Mortar Storefronts

For-profit
Operating a brick-and-mortar storefront
Headquartered on or along North/South Broad Street, Central City, or New Orleans East
Majority (50%+) owned by Black entrepreneur(s)
Preferred: Storefront business that has existed in the neighborhood for 3+ years with the desire to stay in the neighborhood, create livable wage jobs, and build strong community ties
Preferred: Businesses with stated intention of growing revenues and team through commercial and/or government contracts.

Education

Eligibility Category: Early Childhood Education

For-Profit or Non-Profit
Supports service provision or delivery of early childhood education and care from birth to eight years of age
Plans to increase enrollment, grow staff, and/or expand business location within the next 12 months.

Education

Eligibility Category: Consumer Packaged Goods

Entrepreneurs who have an existing consumer packaged goods (CPG) brand that are one or more of the following:
Environmentally sound
Locally sourced
Healthy
Or have other compelling social or environmental impacts

Propeller will prioritize companies led by BIPOC entrepreneurs, especially those seeking to increase sales through growth of wholesale outlets.

Health 

Eligibility Category: Direct provision or delivery of healthcare

For-profit or nonprofit with earned revenue
Providing direct clinical care or healthcare
Preferred: Entrepreneurs serving a BIPOC client base
Preferred: Entrepreneurs seeking to make healthcare more accessible to New Orleanians
Preferred: Entrepreneurs seeking to grow their staff in the next 12 months

Eligibility Category: Provision of services impacting social and physical determinants of health

For-profit or nonprofit with earned revenue
Providing services impacting social and physical determinants of health
Preferred: Entrepreneurs serving a BIPOC client base
Preferred: Entrepreneurs seeking to make healthcare more accessible to New Orleanians
Preferred: Entrepreneurs seeking to grow their staff in the next 12 months.

Water 

Eligibility Category: Green Infrastructure and Stormwater Management

Currently working urban stormwater management or green infrastructure

For-profit or nonprofit with earned revenue

Eligibility Category: Coastal Restoration

Currently working or seeking to work in coastal restoration
For-profit or nonprofit with earned revenue

Eligibility Category: Native Plant Cultivation

For-profit or nonprofit with earned revenue
Priority: increasing supply of native plants to be used in green infrastructure projects.

For more information, visit Propeller.