2012 - 2013 ANNUAL REPORT the New Bienvilles
It takes a village to build a city. So, in the spring of 2000 we set about building the village. Long before Katrina, we saw a way to hack the chronic complacency of New Orleans. We would develop our own strain of entrepreneurial culture. Building bridges to activate strong networks of individuals, corporations, non-profits, universities, and government. Using entrepreneurship as a way to connect them. We would cultivate the tenacity and the will of budding entrepreneurs. Working below the surface, we would nurture and strengthen the roots so that when our entrepreneurs emerge, they can sustain themselves and begin to nurture others. What started as a movement has become a model. Not measured by the quality of deals, but by the quality of life. Fed by a quality of love for a place that matters. To us and to the world. What began with a small group has become an army of passionate individuals and intelligent organizations creating jobs, opportunities, choices, and a new generation of leaders. Leaders who inspire others by their experience and pay it forward with their success. The City of New Orleans is now open to new people and new ideas. It’s now a place our kids want to call home. And the village thrives. That’s the idea. That’s The Idea Village.
LETTER FROM THE CEO Friends, Last year, during the 2013 Entrepreneur Season, Walter Isaacson gave a keynote address at New Orleans Entrepreneur Week (NOEW) that discussed the influence of entrepreneurship throughout New Orleans’ 300 year history. His research led him to a very interesting observation, “New Orleans is in its 3rd wave of entrepreneurship.” The mosaic of faces decorating the front and back covers of this report honors the New Bienvilles of this movement. You. We are the 3rd Wave. Over the past 13 years, much like a lean startup, The Idea Village has developed and tested ideas to achieve our mission to identify, support, and retain entrepreneurial talent in New Orleans by identifying gaps and opportunities, developing and executing strategies to fill those gaps, convening the local entrepreneurial community, and promoting the entrepreneurial movement underway in New Orleans. This unique ecosystem developer position is resulting in a sustainable investable asset for New Orleans that is building the infrastructure and attracting the talent and capital investment required to grow the New Orleans community. From 2009-2013, The Idea Village aggregated its programs into the Entrepreneur Season. This innovative platform has strategically and efficiently engaged a collaborative global network of government, universities, corporations, non-profits, professionals, and investors to directly support 2,577 entrepreneurs, 131 of which were selected into high-growth consulting programs where we allocated $2.3 million in seed capital. As of August 2013, 81% of these 131 companies are still in business and have created over 1,034 jobs, secured $78+ million in capital, and generate over $76 million in revenue each year for the New Orleans community. On pages 15-16 we have highlighted some alumni updates. A priority focus of the 2013 Season was scaling the movement by leveraging the Season platform to engage and connect the broader entrepreneurial community. As you will see on pages 11-12, 53 local ventures were selected by 17 partners to be showcased during NOEW with priority given to key industries like digital media, water, education, and arts. These partnerships also focused on increased minority and female participation. The 2013 Season culminated with the Big Idea, where more than 3,000 people gathered at Manning’s on Fulton Street to allocate $140,050 to 15 promising new ventures across a variety of industries – the physical manifestation of the 3rd Wave! Additionally, delegations from Israel and Latvia as well as Chicago, Cleveland, Houston, Los Angeles, Long Beach, Miami, New York, Nicaragua, Philadelphia, and Washington, D.C. joined us for NOEW to observe, learn, and share. What’s happening here is special - as is illustrated by the most recent Brookings Institute Report citing New Orleans’ entrepreneurial activity as 56% above the national average and 33% higher than the aspirational metros and Forbes’ recent ranking of New Orleans as the #3 best city for information technology job growth - and the world is beginning to notice. But as much progress and success as we’ve achieved together, this is still a young ecosystem and there is still much work to be done. The Atlantic posed an appropriate question in an article that was published following NOEW: “The Big Comeback: Is New Orleans America’s Next Great Innovation Hub?” We believe the answer is yes, but in order to sustain the movement, we need the entire community to be engaged; everyone has a role. As we embark on the 2014 Season, The Idea Village pledges to work with our evergrowing network of partners to support 1,500 New Orleans-based entrepreneurs through over 150 unique events culminating in New Orleans Entrepreneur Week, March 22-28, 2014. We are committed to managing this platform with a vision to build an authentic, self-sustaining entrepreneurial ecosystem in New Orleans by 2018, the City’s tricentennial. Let’s Ride the 3rd Wave.
Tim Williamson CEO and Co-Founder, The Idea Village
BOARD OF DIRECTORS David Darragh - Chairman CEO, Reily Foods Company Ti Adelaide Martin - Vice Chair Co-Proprietor, Commander’s Palace Bill Hines - Immediate Past Chairman Managing Partner, Jones, Walker, Waecter, Poitevent, Carrère & Denègre, LLP Margaret Beer Marketing, IBERIABANK Michael Brown Vice-Chairman and COO, IBERIABANK Kevin Clifford CEO, American Funds Daryn Dodson Private Equity Consultant to Board of Directors, Calvert Funds Michael Gollner Managing Partner, Operating Capital Partners, LLP Yvette Jones Executive Vice President of University Relations and Development, Tulane University Chris Laibe Founder, Schedulist Merritt Lane President and CEO, Canal Barge Company, Inc. Amith Nagarajan Co-Founder, Abstraction Ventures John Payne President, Enterprise Shared Services at Caesars Entertainment Corporation Wendell Pierce Actor and CEO, Sterling Farms Tim Ryan Consultant Warner Thomas CEO, Ochsner Health System Hugh Weber Consultant Tim Williamson Co-Founder and CEO, The Idea Village Matthew Wisdom CEO, TurboSquid, Inc.
TABLE OF CONTENTS ADVISORY COMMITTEE E. Tiffany Adler COO, Adler’s Allen Bell Partner, TopSide and Co-Founder, The Idea Village Darryl d’Aquin President, CommTech Industries
WHO WE ARE
1
WHAT WE DO
3
CORE PROGRAMS
Quentin Dastugue CEO, Property One
PARTNERSHIPS
Allen Eskew CEO, Eskew+Dumez+Ripple
NEW ORLEANS ENTREPRENEUR WEEK
Sally Forman Author and Co-Founder, The Idea Village Sam Giberga Senior Vice President and General Counsel, Hornbeck Offshore Services and Co-Founder, The Idea Village
IMPACT
David Guidry President and CEO, Guico Machine Works
13
THE MOVEMENT IS NOW A MODEL
James Hardy Life Science Commercialization Consultant
MEDIA HIGHLIGHTS
Scott Jacobs Principal, Strategic Comp
ENTREPRENEUR UPDATES
Suzanne Mestayer CEO, ThirtyNorth Investments Kenneth Purcell CEO, iSeatz
2013 FINANCIALS
Mark Romig CEO, New Orleans Tourism Marketing Corporation
17
SOURCES OF FUNDS
David Sylvester Partner, Fitzgerald & Rhodes, LLP
EXPENSES
Jimmy Treuting CEO, Farm Dog, LLC
2013 SUPPORTERS
Robbie Vitrano Co-Founder, Trumpet, Naked Pizza, and The Idea Village
IDEA VILLAGE STAFF Tim Williamson Co-Founder and CEO Emily Madero
Cameron Adams
Leslie Nelson-Abell
Victoria Adams
Alex Rawitz
Megan Barry
Beau Royster
Rhea Ghosh
Sara Thomas
Angelica Valenta
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2013 ENTREPRENEUR SEASON | 1
To date, there have been four distinct phases of our evolution, and they are outlined below. This year, the 2014 Entrepreneur Season will launch phase five, during which The Idea Village will “ride the 3rd wave” in an effort to further strengthen and systemize the powerful platform of engagement now in place.
IDEAcorps launches in 2006 to help businesses rebuild post-Katrina. It has since grown into a nationally-recognized experiential learning program (Pictured below).
In March 2003, The Idea Village launches “Roundtables” to discuss strategies to building an ecosystem in partnership with Pan American Life and GNO, Inc. (Pictured below). In 2000, Petro Designs wins the Loa Group’s business plan competition and receives a prize package of cash and in-kind services worth over $125,000.
The Idea Village launches Capital Village investor pitches, in July 2005, in partnership with Elliot Bouillion of Murphree Venture Partners.
What started on a cocktail napkin at the Loa Bar has turned into a global movement (Pictured below).
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The Idea Village’s first Entrepreneur cohort program launches in 2005 as ACE (Pictured above).
WHO WE ARE: Founded in 2000, The Idea Village is an independent 501(c)3 non-profit organization with a mission to identify, support, and retain entrepreneurial talent. With a 13 year track record, The Idea Village has solidified itself as a leading driver of entrepreneurship by providing direct support to over 3,000 New Orleans entrepreneurs by engaging over 2,400 professionals to allocate 72,295 consulting hours and $3.45 million in seed capital. Collectively, this portfolio generates over $100 million in annual revenue and has created well over 2,000 jobs for the New Orleans community.
In 2008, The Idea GNO, Inc. and transform the offices in to The Property
Power Pitch is unveiled in 2012, helping to fill a capital access void, and connecting local startups seeking angel investment with local and national investors (Pictured below).
In 2010, The Idea Village and Jim Coulter introduce the Coulter IDEApitch in efforts to elevate local ventures seeking venture capital. Winners have included Cordina (‘10), NOvate Medical Technologies (‘11), Kickboard (’12), and ChapterSpot (‘13) (Pictured below).
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New Orleans Entrepreneur Week begins in March 2009, as the “IDEAcorps Challenge”, engaging MBAs and corporate volunteers from across the country (Pictured above).
The addition of IDEAsessions, in 2012, as a core consulting program allows for deeper support of more local ventures (Pictured above).
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IDEAinstitute launches in 2011 to engage the broader entrepreneurial community.
IDEAxcelerator launches in 2010 to systematically support the 15 best new New Orleans startups.
In 2018, New Orleans will be ranked as a top 10 entrepreneurial ecosystem, and the 10th annual NOEW will be a signature event during the City’s five-month tricentennial celebration, with the goal of engaging a global audience of 100,000 individuals.
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In 2018, Pierce Industries’ Wave Robber is adopted as a national coastal restoration solution, Your Nutrition Delivered has scaled across the country, Education Everytime wins a Grammy for its educational music, and Keil Moss (in the coral shirt) graduates from high school and takes his first company public, having been inspired at the 2013 Big Idea (Pictured above).
PlayNOLA and Launch Pad win $100,000 and $25,000 respectively via the 504ward/ Idea Village business plan competition in April 2009.
Village teams up with developer Brian Gibbs to McGlinchey Stafford law IP or Intellectual (Pictured above).
In 2012, The Idea Village hosts the inaugural Big Idea, attracting more than 1,500 attendees. A tipping point for the movement (Pictured above).
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2013 ENTREPRENEUR SEASON | 3
WHAT WE DO: The Idea Village delivers against its mission by building an “entrepreneurial ecosystem” – a complex, interrelated system of diverse constituencies required to ensure that entrepreneurs succeed – and grows this ecosystem by executing an annual Entrepreneur Season from July-March. The nine-month Season is an innovative platform that installs rhythms and rituals around strategic initiatives that engage a global network to support high-growth entrepreneurs, educate the larger entrepreneurial community, and promote New Orleans as an entrepreneurial hub. The Season culminates each March with New Orleans Entrepreneur Week, the premier showcase event that engages the entire New Orleans entrepreneurial ecosystem.
PHOTO: Erik Frank, Founder of Your Nutrition Delivered, looks out into the crowd of 3,000+ individuals cheering him on at the Big Idea.
ENTREPRENEUR PORTAL
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media mentions R E C E I V E D
The 2013 Entrepreneur Season engaged over 3,000
individuals, including global thought leaders such as Bridgette Sexton Beam of Google, Jim Coulter of TPG Capital, Walter Isaacson of the Aspen Institute, and New Orleans Mayor Mitch Landrieu, to provide direct support to 978 local entrepreneurs through strategic education, consulting, and capital access programs:
IDEAinstitute IDEAinstitute is a weekly series of free workshops, roundtables, and keynotes centered on the fundamentals of entrepreneurship hosted for the New Orleans entrepreneurial community. This year, IDEAinstitute, powered by JPMorgan and Chase, provided resources to 860 individuals and engaged over 300 professionals. In an effort to better address the needs of the larger community, the suite of educational offerings was expanded to include industry-specific programming and informal networking opportunities to bridge the gap between early and mid-stage entrepreneurs through five “Founders Roundtable” forums.
PHOTO: New Orleans entrepreneurs gather for an IDEAinstitute session at The Idea Village led by branding expert Robbie Vitrano.
The expansion of educational programming allowed The Idea Village to have a broader impact on the entrepreneurial community, reaching 40% more entrepreneurs than the 2012 Season. Founders Roundtable Snapshot INDUSTRY THEME
Restaurants, Bars, & Distilleries
Arts & Entertainment
Consumer Products
Digital Media
Healthcare
HOSTING PARTNER
NOLA Brewing Company
Second Line Stages
Porter Lyons / Lisa Lloyd
Gambit Communications
New Orleans BioInnovation Center
IDEAsessions IDEAsessions are focused strategy sessions led by seasoned entrepreneurs and business experts. The goal is for participating entrepreneurs to walk away with actionable next steps. The Idea Village hosted 51 IDEAsessions during the 2013 Season.
PHOTO: Stanford Graduate School of Business’ Chip Heath offers strategic advice to Andrew Dunn, Co-Founder of Traverst, during an IDEAsession.
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2013 ENTREPRENEUR SEASON | 5
IDEAxcelerator IDEAxcelerator is an intensive, startup-focused program for a cohort of up to15 early-stage, New Orleansbased ventures. With the goal of preparing the entrepreneurs for key community-facing events, IDEAxcelerator is managed by a team of successful entrepreneurs, or Entrepreneurs-in-Residence (EIRs), Color schemes: with support from MBA analysts. With more than 70 years of combined experience in business management and startup ventures, 2013 EIRs included Kevin Wilkins, Carol Markowitz, and Robbie Vitrano. Over 160 entrepreneurs applied for the 2013 program, and The Idea Village selected a portfolio of 13 companies poised for growth to participate. 60% of the class was revenue generating upon selection and 80% were tech-based. With innovative ideas in a number of industries, including digital media, education, healthcare, finance, and retail, the 2013 class is a true reflection of the evolution and growth of the local entrepreneurial ecosystem. 2013 IDEAxcelerator Cohort
Bioceptive
After the IDEAxcelerator program, our company was unrecognizable to its former self. The program helped us lay out our goals and compose a tactical plan to achieve them. We’re a matured business post-program, with a clear understanding of our vision, mission, and values. I highly recommend this program to any entrepreneur who is looking to grow their business. - Scott Wolfe, Founder, Zlien
PHOTO: The 2013 IDEAxcelerator cohort gathers for dinner and networking at The Idea Village.
Strategic Challenges Strategic Challenges support entrepreneurs in key industry sectors and culminate in a capital pitch competition during New Orleans Entrepreneur Week. 2013 Challenges included:
4.0 Schools Education Challenge PURPOSE: To support startups tackling critical problems within education. WINNER: mSchool won $25,000 in seed capital, and Haystack EDU won $5,000 during the 2nd annual pitch at NOEW. Other entrepreneurs presenting included EnrichED Schools, imagiLabs, Read Nimble, and Overgrad.
Water Challenge in partnership with Greater New Orleans Foundation (GNOF) PURPOSE: To identify and support entrepreneurial solutions that apply innovative approaches to how we live with water. WINNER: Pierce Industries won $50,000 in seed capital during the 3rd annual pitch at NOEW. Other entrepreneurs presenting included ABS Technologies, EMS Green, and Louisiana Water Works.
Urban League of Greater New Orleans Women in Business Challenge PURPOSE: To educate and empower female entrepreneurs in New Orleans. WINNER: Dyverse City won $10,000 in seed capital during the pitch at NOEW. Other entrepreneurs presenting included GotPlanz?, Key Models & Talent Agency, Ooh La Bra!, and Sweet Rising Nursing Tutorial.
Trust Your Crazy Ideas Challenge in partnership with Brees Dream Foundation PURPOSE: To develop entrepreneurial talent at the high school level. WINNER: Lusher Charter School won $10,000 for their innovative “I am__” campaign centered on self-acceptance. Cohen College Prep, St. Augustine, and Isidore Newman School each received $2,500.
IDEAcorps IDEAcorps is The Idea Village’s nationally recognized MBA experiential learning program that connects university resources to provide direct strategic consulting to New Orleans entrepreneurs during New Orleans Entrepreneur Week. MBAs from eight leading universities participated in the 2013 IDEAcorps program. Teams of six students from each school partnered with high-impact New Orleans startups and worked with them to tackle critical business challenges or leverage strategic opportunities.
During the final IDEAcorps pitch at NOEW, the judging panel named both Cornell and Stanford as the winners for their work with Bissap Breeze and education everytime respectively.
2013 IDEAcorps Partnerships
ZLIEN
BISSAP BREEZE
platform that solves credit problems in the construction industry by collateralizing a company’s accounts receivables
all-natural, hibiscus-based beverage company
RETAIL GOOSE
formerly known as clothesline
gotointerview.com
software that integrates information between retail and wholesale businesses
web-based tool designed to connect employers and employees in high-turnover industries
pierce industries, llc
education everytime
etax credit exchange
your nutrition delivered
patented coastal protection and restoration system known as The Wave Robber
online platform where teachers inspire and discover engaging music that enhances daily routines
online marketplace for trading tax credits and other economic incentives
fresh meal delivery service
Our project was at once deeply challenging, educating, and inspiring; I know NOEW is a week that I will always remember.
- Emily Walsh, 2013 IDEAcorps MBA Team, Cornell PHOTO: The Yale IDEAcorps team strategizes about their priorities for New Orleans Entrepreneur Week.
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2013 ENTREPRENEUR SEASON | 7
Capital Village The Idea Village works with New Orleans entrepreneurs during the Entrepreneur Season to develop, refine, and strengthen their investor pitches for innovative capital access opportunities. Idea Village-managed capital access programs include opportunities for Venture Capital, Angel Capital, and Seed Grants and engage a national network of investors to assess local deals. Investors engaged in the 2013 Season included partners from Andreessen Horowitz, Battery Ventures, Calvert Funds, Canaan Partners, Denham Capital Management, General Atlantic, Kleiner Perkins Caufield & Byers, Louisiana Buyout Fund, New Markets Venture Partners, Revolution Ventures, and TPG Capital.
Venture Capital Coulter IDEApitch Created in 2010 by Jim Coulter, TPG Capital Founding Partner, and The Idea Village, the Coulter IDEApitch is an invitation-only dinner and investment pitch featuring high-growth entrepreneurs in the New Orleans region presenting their ventures to world-class investors. The winner, as determined by a combination of audience and panel vote, receives a customized, all-expense-paid trip to California to meet with investors. ChapterSpot won the 2013 Coulter IDEApitch and a customized trip to Silicon Valley. 2013 Coulter IDEApitch Entrepreneurs
Bioceptive
PHOTOS (Left to Right): The Coulter IDEApitch panel, comprised of Stephen Williamson (Odwalla), Mark Valdez (Andreessen Horowitz), Jim Coulter (TPG Capital), Dav of Ron Bienvenu (Louisiana Buyout Fund), Elizabeth Chou (New Market Venture Partners), Daryn Dodson (Calvert Funds), David Hall (Revolution Ventures), Mike Katz Zlien, make his pitch. | Erik Frank, Founder of Your Nutrition Delivered, addresses the 3,000+ people gathered in the Manning’s Restaurant courtyard for the Big Idea
Angel Capital Power Pitch
2012 Power Pitch winner adverCar awarded this year’s winners with $1,000 to go toward follow up investment trips.
Power Pitch, created in collaboration with Will Porteous of RRE Ventures and Jeffery Silverman of Laconia Ventures in 2012, is a fast-paced investment pitch event that connects entrepreneurs seeking angel capital with a network of national and local investors. Haystack EDU and Zlien won the Power Pitch and trips to Silicon Valley, Houston, New York, and Baltimore to meet with angel investors. 2013 Power Pitch Entrepreneurs
Grants The Big Idea The Big Idea, presented by IBERIABANK, is an innovative approach to community engagement and crowd-sourced funding. A collaboration of the New Orleans entrepreneurial ecosystem, this pitch extravaganza featured 15 of New Orleans’ most promising startup ventures and a local, celebrity judging panel comprised of Jim Coulter, Archie Manning, Mary Matalin, and Wendell Pierce. 3,000+ individuals gathered to cast their ballots for the best entrepreneur in a live American Idol-style selection process. education everytime and Your Nutrition Delivered both won, and each walked away with $50,000 in seed capital through a combination of audience and panel vote. 2013 Big Idea Entrepreneurs
memorandom
sidework
vid Mount (Kleiner Perkins Caufield & Byers), and Robbert Vorhoff (General Atlantic), assesses the participating entrepreneurs. | The Power Pitch panel, comprised (Battery Ventures), Michael Klein (Canaan Partners), Jordan Marye (Denham Capital), and Robbert Vorhoff (General Atlantic), watches Scott Wolfe, Founder of VIP party.
Speed-to-Seeds Speed-to-Seeds are fast-paced pitch competitions that engage the local business community as panelists to assess entrepreneur pitches and provide constructive feedback. The Idea Village hosted five Speed-to-Seeds during the 2013 Season, engaging representatives from Mark Cuban Companies, Gameloft, Silicon Bayou News, the Small Business Administration, and many more. PHOTO: Jason Nicosia, Founder of Connect for a Cause, pitches to local professionals during a Speed-to-Seed at The Idea Village.
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Partnerships As The Idea Village works toward reaching its vision of New Orleans becoming an authentic self-sustaining entrepreneurial ecosystem, partnerships are critical. The Entrepreneur Season has become a platform for the New Orleans entrepreneurial community to collaborate throughout the year to support local startups and growing businesses. 2013 Entrepreneur Season “Ecosystem Partners” included: 4.0 Schools, 504ward, Abstraction Ventures, Creative Alliance of New Orleans, Downtown Development District, GNO, Inc., Goldman Sachs 10,000 Small Businesses, Good Work Network, Jefferson Parish Economic Development Commission, Launch Pad, Louisiana Cultural Economy Foundation, New Orleans BioInnovation Center, New Orleans Business Alliance, New Orleans Startup Fund, Propeller, South Coast Angel Fund, Tulane University, and Urban League of Greater New Orleans. Additionally, The Idea Village teamed up with a number of partners to host the following strategic initiatives in an effort to support and retain a larger number of local entrepreneurs across a variety of industries.
Chaffe McCall Challenge The Chaffe McCall Challenge was designed to connect Chaffe McCall lawyers with local startups. The Idea Village nominated entrepreneurs from its 2013 consulting portfolio based on the venture’s need for legal advice, mentoring, and office space. Five entrepreneurs presented a five-minute business pitch and fielded questions from a panel of Chaffe McCall partners. WINNER: Dyverse City and Bissap Breeze each won $35,000 in professional services in the Chaffe McCall Challenge. Other entrepreneurs presenting included Digital Forensics Solutions, EnrichED Schools, and Connect for a Cause.
Cordina Challenge The Cordina Challenge, spearheaded by the Jefferson Parish Economic Development Commission (JEDCO) and Cordina Frozen Cocktails, was designed to inspire entrepreneurial activity in Jefferson Parish. The Idea Village shared its “playbook” on how to launch, manage, and execute a pitch competition and provided ongoing strategic support leading up to the pitch during New Orleans Entrepreneur Week. WINNER: Be Well Nutrition won $25,000 in cash and in-kind resources in the Cordina Challenge. Other entrepreneurs presenting included Clinicate, Memorandom, and ZingBoard. PHOTOS (Left to Right): Pelican Bomb Co-Founders, Cameron Shaw and Amanda Brinkman, celebrate winning the Downtown Development District’s Arts-Based Architecture + Development), and Zachary Wool (Barios, Kingsdorf, and Caseix). | Goldman Sachs 10,000 Small Businesses hosts an entrepreneur education Todd Francis (FFC Capital), listens as six entrepreneurs make their pitch.
Downtown NOLA Arts-Based Business Pitch The Downtown NOLA Arts-Based Business Pitch, hosted by the Downtown Development District (DDD), focused on finding local arts-based entrepreneurs who have high potential to develop or grow a business that will contribute to the vitality of Downtown New Orleans and its public reputation as a destination for the arts. The Idea Village provided intensive program support driving the overall development and execution. WINNER: Pelican Bomb won $25,000 in cash and in-kind resources through the DDD’s Arts-Based Business Pitch, and 2-Cent Entertainment received the “lagniappe” prize of $10,000 in cash and in-kind services. Other entrepreneurs presenting included GotPlanz?, Porter Lyons, and Sarah Dunn Art.
Goldman Sachs/ Idea Village Pilot Cohort The Idea Village teamed up with the local Goldman Sachs 10,000 Small Businesses initiative to launch a pilot program for 16 New Orleans-based entrepreneurs that married Goldman’s intensive, education module with The Idea Village’s robust network and consulting resources. The program was piloted based on noticeable demand from the local entrepreneurial community.
I spend half of my time in Los Angeles, which has a high-quality tech scene. I was impressed by the fact that the ideas presented at the inNOLAvation Challenge were of equal quality to what I see in LA. That makes me even more grateful that I was selected as the winner. - Sami Khan, Founder and CEO, Memorandom
inNOLAvation Challenge The inNOLAvation Challenge was designed to encourage the formation of innovative businesses by local minority entrepreneurs. The Idea Village shared its “playbook” on how to launch, manage, and execute a pitch challenge and provided ongoing strategic support leading up to New Orleans Entrepreneur Week. WINNER: Memorandom won $12,000 in the inNOLAvation Challenge. Snapp won second place receiving $7,000, and $3,000 was awarded to third place winner Joyhound. Other entrepreneurs presenting included Advano, NOLA Pure, and Social Chomp.
memorandom
Business Pitch with panelists Jeanne Nathan of (CANO), Kurt Weigle (DDD), Bill Hines (Jones Walker), Jean Bragg (Jean Bragg Gallery), Marcel Wisznia (Wisznia module for the pilot cohort at The Idea Village. | The inNOLAvation Challenge panel, comprised of Troy Clark (Golden Leaf Energy), Ivy Carter (Walmart), and
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92% of NOEW
2013 attendees thought the quality of the sessions was excellent or good.
New Orleans Entrepreneur Week New Orleans Entrepreneur Week (NOEW), the culmination of The Idea Village’s annual Entrepreneur Season, has become the premier showcase event for the New Orleans entrepreneurial ecosystem. This year’s event was ten times the size of the inaugural year in 2009 with 3,000+ of the nation’s most innovative business leaders, financiers, entrepreneurs, and students engaged to support local entrepreneurs. NOEW 2013 HEADLINERS
96% of NOEW 2013 attendees are planning on attending NOEW 2014.
Jim Coulter
Walter Isaacson President and CEO
President, Founder, and CEO
TPG Capital
Aspen Institute
Chobani
Founding Partner
Hamdi Ulukaya
I loved everything. The entire Idea Village staff was awesome. The sessions and the speakers were phenomenal and had so much to offer. I was able to expand my network with the addition of some great fellow entrepreneurs. The entire NOEW experience definitely lives up to the hype. New Orleans grows stronger from all that Idea Village does throughout the year for the entrepreneurial community. - NOEW 2013 Attendee PHOTOS (Left to Right): Steve Gleason, Founder of Team Gleason, addresses the audience at the Gleason Challenge. | Lorenzo Castillo, Founder of Education Everytime, celebrates winning the Big Idea with some of his students. | Jim Coulter, Founding Partner of TPG Capital, makes his keynote address.| Risa Mish, Senior Lecturer of Leadership at Johnson Graduate School of Management, Cornell University, presents “Making the Sale: The Art of Persuasion and Influence.” | Hamdi Ulukaya, Founder of Chobani, shares his entrepreneurial journey.
PHOTOS (Left to Right): Historic Gallier Hall is transformed into an entrepreneurial village for the 5th annual NOEW. | Walter Isaacson, President and CEO of the Aspen Institute, makes his keynote address, explaining that “New Orleans is in its 3rd wave of entrepreneurship.” | Tina Wells, Founder of Buzz Marketing Group, addresses a packed room as NOEW 2013’s first speaker. | Entrepreneurs gather for “Brand Building on a Budget” with Ron St. Pierre, Founder and CMO of Valence Consulting, LLC.
Representatives from Fortune 500 companies, the most prominent venture capitalists, and notable entrepreneurs also participated, including:
Bridgette Sexton Beam: Google for Entrepreneurs
Donna Fenn: author; contributing editor, Inc. Magazine
Nick Friedman: Co-Founder, College Hunks Hauling Junk, College Hunks Moving Patti Greene: Professor, Babson
College; National Academic Director, Goldman Sachs 10,000 Small Businesses
Mary Matalin: Political Consultant
New Orleans Mayor Mitch Landrieu
Margaret Spellings: Former U.S. Secretary of Education Goldman Sachs 10,000 Small Businesses Advisory Council Jeff Pulver: Founder, FWD, VON Coalition, Vivox; Co-Founder, 3-Rings, Vonage Robbert Vorhoff: General Atlantic
Kathryn Minshew: Founder, The Muse
Alan Weinkrantz: Global PR Expert Tina Wells: Founder, Buzz Marketing Group; Huffington Post blogger
Black Enterprise columnist
Wendell Pierce: star of HBO’s hit show Treme
David Hall: Revolution Ventures
NOEW HIGHLIGHTS:
7 days 64 events 3,000+ attendees
48 MBAs 9
Season partners hosted an event during NOEW
53
of NOLA’s top entrepreneurial ventures were showcased
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IMPACT: With a 13 year track record, The Idea Village has solidified its position as a leading driver of entrepreneurship by providing direct support to over 3,000 entrepreneurs by engaging 2,400 professionals to allocate 72,295 consulting hours and $3.45 million in seed capital. Collectively, this portfolio generates over $100 million in annual revenue and has created 2,000+ jobs for the community. During the 2013 Entrepreneur Season, The Idea Village received a Gold Excellence in Economic Development Award from the International Economic Development Council in recognition of its Entrepreneur Season model. The organization has also been acknowledged in the Wall Street Journal, Forbes, Inc., CNN, TIME, and Japan’s Nikkei Times.
PHOTO: New Orleans Mayor Mitch Landrieu addresses the Entrepreneurial Ecosystem Summit attendees at historic Gallier Hall during NOEW.
The Movement is Now a Model Incubating the Incubators: Latvia At the request of the U.S. Embassy, The Idea Village launched a pilot ecosystem mentorship initiative with Latvia. The Idea Village developed a curriculum on igniting an entrepreneurial movement and delivered it to the Latvians via Google Hangout. In-person “exchanges” also took place. A Latvian delegation, made up of members of the Idea Hotel Incubator, visited during NOEW after which Robbie Vitrano, a 2013 Season Entrepreneur-in-Residence, travelled to Latvia. This is proof that The Idea Village is becoming a recognized entrepreneur ecosystem developer.
PHOTO: Idea Village Co-Founder, Robbie Vitrano leads an inspirational lecture at the Riga Business School preceding the Big Idea Latvia.
It is such an honor to work with The Idea Village in New Orleans and the Idea Hotel incubators on this groundbreaking project. Entrepreneurship turned New Orleans around after Hurricane Katrina, and I know that the creativity, initiative, and passion of the Idea Hotel incubators can jumpstart Latgale, as well. - Mark Pekala, U.S. Ambassador to Riga Entrepreneurial Ecosystem Summit New Orleans Entrepreneur Week 2013 hosted the inaugural Entrepreneurial Ecosystem Summit in partnership with New Orleans Mayor Mitch Landrieu, Blackstone Charitable Foundation, Goldman Sachs 10,000 Small Businesses, and Google. Participants designed a plan for sustaining the local entrepreneurial ecosystem utilizing global best practices. Delegations from Israel and Latvia as well as Chicago, Cleveland, Houston, Los Angeles, Long Beach, Miami, New York, Philadelphia, and Washington, D.C. observed the Summit to learn from New Orleans’ efforts to grow an ecosystem in their own communities.
2013 Season Speaking Engagements included: Coke, Wells Fargo, The NFL’s Super Bowl Business Leadership Forum, and Young Leadership Council
Media Highlights The Idea Village generated over 253 media mentions, including articles in national publications such as The Atlantic, CNN, and The Verge, valued at $3 million+. In addition to the national coverage received, The Idea Village worked closely with The Times-Picayune, CityBusiness, and Silicon Bayou News to generate an unprecedented amount of local coverage. Top National Publications: The Big Comeback: Is New Orleans America’s Next Great Innovation Hub? Wendell Pierce, Tina Wells and Others Convene for New Orleans Entrepreneur Week NOEW Creates Audible Buzz
56
articles by NOLA.com / The Times-Picayune
In Katrina’s Shadow, New Orleans’ Startups Take Flight
Let the Good Times Roll: Big Easy Kicks Off Entrepreneur Week
Lessons from New Orleans: Creating A Sustainable Business Culture
Resurgent New Orleans Attracting Seasoned Entrepreneurs
54
articles by Silicon Bayou News
16 articles by New Orleans CityBusiness
Silicon Bayou Rising: New Orleans’ Drive to be the Next Great Tech City
14
ENTREPRENEUR UPDATES
Over the past 13 years, The Idea Village has provided direct support to over 3,000 New Orleans-based entrepreneurs. Here is a snapshot of some of the companies we have worked with and their recent milestones.
THEIR 3rd BIRTHDAY
RA CURR IS ENTLY IN G
CELEBRATED
2013 ENTREPRENEUR SEASON | 15
2013 S
AND 5 , 0 0 0 , 0 0 0 t h
a seed round
of funding
SURVEY COMPLETION
THE TEAM
GREW
from one to five people = 100,000 surveys
AS OF JULY 2013
Coulter IDEApitch 2011
EDUCATION CHALLENGE 2013, POWER PITCH 2013 WINNER
opening new
EXPANDED sales outlets
Children’s Hospital New Orleans
The
to local
Langenstein’s G rocers select
GNC locations
IDEAxcelerator 2013, BIG IDEA 2013 winner
room at
BY
QuestionPro an online market research firm based out of seattle
ideaxcelerator 2011
SECURED
BREWERY
$1.1
MS
LAUNCHED
doubled its home-delivery clientele
A
Bioceptive
TASTING
2x
D E R I QU
AL
MILLION
FL
INTO NEW MARKETS
IDEAxcelerator 2011
in series
A funding
IDEAxcelerator 2013, Coulter IDEApitch 2013
RAISED
$2.8
MILLION
THEIR
LAUNCHED
8
th
AND EXPECTS TO BOOK
FLAVOR
$14
NEW
MILLION
BY DECEMBER 2013 in annual revenue
IDEAxcelerator 2010, Coulter IDEApitch 2010 winner
in series A round with lead national investors
5 29
HIRED people across sales, marketing, engineering, and
SIGNED
NEW NATIONAL ACCOUNTS
ECLIPSED
All of 2012 Revenue
IDEAxcelerator 2012, Coulter IDEApitch 2013 winner
AQ
G
N I R
UI
customer support
IDEAxcelerator 2010, Coulter IDEApitch 2012 winner
1st Half 2013 Revenue
ThyssenKrupp
As A NATIONAL ACCOUNT
IDEAxcelerator 2013, Power pitch 2013 winner
IN
ENTREPRENEURIAL ACTIVITY
NEW ORLEANS IS
56%
33%
NASHVILLE
RALEIGH
AUSTIN ORLANDO
SAN ANTONIO HOUSTON
HIGHER
HIGHER
than the national average
than the aspirational metros
CHARLOTTE
*AS CITED IN THE NEW ORLEANS INDEX AT EIGHT (2013) PUBLISHED BY THE GREATER NEW ORLEANS COMMUNITY DATA CENTER
16
2013 ENTREPRENEUR SEASON | 17
2013 Financials 2013 Sources of Funds: $1,972,680
30%
2013 Expenses: $1,887,185
59%
11%
Foundations
Core Programs
Individuals
16%
Special Programs
1%
Other
20%
3%
6%
Corporations
Fundraising
Fees
1%
University
19%
34%
General and Administrative
Government *note: FY 2013 audited financials will be released in December 2013. They will be available upon request.
2013 Supporters $100,000+ Blackstone Charitable Foundation Kevin Clifford Family Penny and Jim Coulter Economic Development Administration The Environmental Fund Google Office of Community Development Disaster Recovery Unit
$50,000 - $99,999 The Booth-Bricker Fund Chase Delta Regional Authority Goldman Sachs 10,000 Small Businesses Google Harrah’s New Orleans IBERIABANK Jones, Walker, Waechter, Poitevent, Carrère & Denègre, LLP JPMorgan
$25,000 - $49,999 Baltic American Freedom Foundation The Brees Dream Foundation The David I. Oreck Foundation Downtown Development District of New Orleans French Market Coffee TPG Capital Tulane University
$10,000 - $24,999 Baker, Donelson, Bearman, Caldwell, & Berkowitz PC Baldwin Haspel Burke & Mayer, LLC Baptist Community Ministries Chaffe McCall, LLP Cisco Systems The Ella West Freeman Foundation Ernst & Young Foundation for Louisiana The Goldring Family Foundation Faith Savage and Michael Gollner Elly and Merritt Lane Jordan Marye MassMutual Louisiana NOLA Media Group Rouses Salesforce.com Foundation Silverline Solomon Group
Hugh Uhalt Wells Fargo Advisors
$5,000 - $9,999 4.0 Schools Margaret and Ken Beer Diane and Alan Franco The NOLA Foundation TDF Foundation United States Embassy of Riga, Latvia Jennifer and Doug Walner Ginny Wise and Kevin Wilkins
$1,000 - $4,999 Tiffany Adler adverCar Bellwether Technology Corporation Gail and John Bertuzzi Ron Bienvenu Bari and Edel Blanks Robert S. Boh Bollinger Shipyards Kia and Christy Brown BusinessFirst Bank Mr. and Mrs. George R. Cary, III CenturyLink Paige Royer and R. Kerry Clayton Commander’s Palace Cordina Eskew+Dumez+Ripple James Favrot Federated Sample Sally and Ron Forman Samuel Giberga Global Hunter Securities David Guidry Rupa and Deepak Gupta Mr. and Mrs. A. Whitfield Huguley, IV IBM In honor of Lally Brennan and Ti Adelaide Martin Leslie and Scott Jacobs The James R. Moffett Family Foundation Joel’s Catering and Special Events Yvette Jones Monica and Jeno Kalozdi, Kalencom Jill and Jeff Karp Michael Katz Kickboard John Koerner Lynne and Chris Laibe Laitram, LLC Jay Lapeyre Launch Pad Robert LeBlanc
Leidenheimer Baking Co. Mr. and Mrs. J. Thomas Lewis Fund Archie Manning Jen and Brian Melius, Heaven’s Pets Suzanne Mestayer MTC Worldwide Transportation Bridget and Amith Nagarajan New Orleans Business Alliance NOLA Brewing Company NOLACajun.com Ochsner Health System Roger H. Ogden Peter A. Mayer Advertising Wendell Pierce Place St. Charles Rick Rees Pixie and Jimmy Reiss Timothy P. Ryan Katherine and Robert Saer PK Scheerle Southern Women Action Network Standard Mortgage Carroll Suggs Tierra Resources, LLC Transoceanic Trading and Development Company, LLC Urban League of Greater New Orleans Steven W. Usdin Willem van Aalst E. Burton White, III George Wilson Matt Wisdom
$500 - $999 Basin Street Records Linda and Neil Baum Jeanne and Allen Bell Michael Brown ChapterSpot Drs. Karen and Jay DeSalvo Laurance Eustis, III Lulu and Billy Freiberg Susan Hess Mr. and Mrs. David M. Lane Mr. and Mrs. Andrew B. Lapeyre Dr. Martha A. Madden Divya Mani Marrero Land and Improvement Association, LTD Mr. and Mrs. Peter Moss Robby Moss, Hartwig Moss Insurance Agency The Octavia Fund Mr. and Mrs. H. Minor Pipes, III Robert D. Reily Peter Ricchiuti Mark Romig
Peggy Rosenthal Erin and Doug Ryan J. Kenneth Saer David Schneiderman Search Influence William Sizeler Stone Pigman Walther Wittmann, LLC Storyville Films Debbie and Bill Strobel Susco Solutions Palma J. Strand and David Sylvester Jan and Michael Tilly Troy von Otnott Jackie and Richard Yancey
$1 - $499 Mr. and Mrs. H. Mark Adams Audiosocket Mr. and Mrs. Westy Ballard, Jr. Caitlin Cain Charles Carriere Matt and Tammy Dannheisser Daryn Dodson Nancy and Parke Ellis Randy L. Ewing Gambit Communications Mr. and Mrs. James F. Geary Arjun Gopalratnam Lisa and Philip Lapeyre Carol and Al Merlin William L. Mimeles Carolyn S. Mitchell Marianne and Alan Mumford Salesforce.com SysCom, Inc.
In-Kind Acme Oyster House ARB Meetings and Events Coca-Cola Fleurty Girl Gambit Communications Glazer’s Harbor Communications, LLC Limousine Livery Carol and Donny Markowitz Your Nutrition Delivered
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