ENTREPRENEUR ISSUE
WHO’S WRITING THE CHECKS?
Four area funders share what they’re looking for. P. 42
YOU ARE YOUR BRAND: ARE YOU DOING IT RIGHT? Tops tips from a pro. P. 18
NEW ORLEANS ENTREPRENEUR WEEK RETURNS FOR THE FIRST TIME MARCH 24-29 AS A CO-PRODUCTION WITH LOYOLA’S CENTER FOR ENTREPRENEURSHIP AND COMMUNITY DEVELOPMENT
It’s a good time to be a New Orleanian right now.
Morale across the city never seems to be higher than around Carnival, and with good reason. This is a time when our city is the loudest and proudest in our proclamation that nobody can touch us when it comes to creativity, culture and banding together for a common goal.
And this year, we can also add in an enormous win on the global stage with the Super Bowl . This success only happened because so many people got on the same team and put in the work so that when the time came, we were able to show off our best selves to the world — and the world was very rightly impressed. It’s a win that is bound to pay off for us all for years to come.
But what if we could take that morale lift and keep it going? What if we could continue that feeling of pride all year long by taking action and focusing on building up what we have?
Across this issue you’ll find a common theme. From our Q&A with Bobby Savoie — a successful entrepreneur who will now be helping to steer the future of NOEW — to a contributed piece from NOEW leadership, The Idea Village’s Jon Atkinson, to another by Josh Fleig, chief innovation officer of Louisiana Innovation (LA.10), to our feature on some of the top investing groups in the region, the message is the same; Now is the time to invest in New Orleans. It’s time to invest in our ideas, our innovators, our people, our businesses. For investors, that means prioritizing companies close to home. For everyone else, that means doing the same with the dollars you spend every day.
My family has been making efforts to do this in the new year. It’s not as easy — I admit I grumbled a little about scheduling a stop to Blue Cypress Books to pick up a book instead of just ordering it on Amazon, for example — but that little visit gave me such a good feeling that I’ll happily do it again.
Want a little help on getting started? Check out episode 227 of our BizTalks Podcast at BizNewOrleans.com, or wherever you get your podcasts. In it, I talk with Maryann Miller, program director for StayLocal. Along with details about a fun new program they’re doing for local businesses, Maryann shares that StayLocal.org has an incredible directory where you can search for local businesses according to categories like dining and shopping, but also others like eco-friendly, women-owned, Black-owned, LBGTQ-owned, veteran-owned. I encourage you to check it out.
We vote every day with our dollars. Let’s vote for New Orleans.
Thanks for reading,
Editor Kimberley@BizNewOrleans.com
Note: In the February cover article on Swaybox Studios it was erroneously stated that the company was currently working on a sequel for the “Dynamic Duo” DC film project. No sequel has been announced, but Swaybox currently has many projects in development.
Publisher Todd Matherne
EDITORIAL
Editor Kimberley Singletary
Art Director Sarah E.G. Majeste
Digital Media Editor Kelly Massicot
Associate News Editor Kelly Hite
Contributors Jon Atkinson, Chris Ferris, Josh Fleig, Jeremy Marshall, Ashley McLellan, Misty Milioto, Chris Price, Keith Twitchell
ADVERTISING
Senior Account Executive Meghan Schmitt
504- 830-7246 Meghan@BizNewOrleans.com
Account Executive Abby Palopoli 504- 830-7208 Abby@BizNewOrleans.com
RENAISSANCE PUBLISHING
PRODUCTION
Digital Director Rosa Balaguer Arostegui
Senior Production Designer Ashley Pemberton
Production Designer Czarlyn Ria Trinidad
MARKETING
Marketing Manager Greer Stewart
Sponsored Content Coordinator
Jeremy Marshall
Visual Media Producer Mallary Wolfe
CIRCULATION
Distribution John Holzer
ADMINISTRATION
Office Manager Emily Ruiz
VP of Sales and Marketing Kate Henry
Chief Executive Officer Todd Matherne
For subscriptions, call 504- 830-7231
After coming off a super February, New Orleans is on fire, and the business community is not slowing down.
This month starts off with the second weekend of Carnival and super parades leading into Mardi Gras. Then, after you catch your breath, the business community heats back up with some golf, excellent networking, annual luncheon and a gala.
This month, there are two wonderful women’s events. On Thursday, March 13, the New Orleans Chamber is hosting its Women’s Business Alliance night at Rosie’s on the Roof. More information can be found at NewOrleansChamber.org.
Then, the next week, on Wednesday March 19, JEDCO and the Jefferson Chamber focus their monthly Prosper Jefferson series on women in leadership. This event takes place at the JEDCO Conference Center. For tickets, visit JEDCO.org.
On March 20, head to the Northshore for a round of golf for a great cause as the St. Tammany Chamber of Commerce hosts its annual “Swinging for Scholarships” golf tournament at Money Hill Golf and Country Club. Visit StTammanyChamber.org for more information.
The day after the golf tournament is a super Friday as GNO, Inc., is hosting their annual luncheon at the Hyatt Regency. I am looking forward to a great recap of all the Super Bowl excitement. I encourage you to end your day at the Ochsner Sports Performance Center — better known as the Saints training facility — with the Jefferson Chamber Black and Gold Gala. Visit JeffersonChamber.org for tickets and more information.
Speaking of Saints, welcome to New Orleans new head coach Kellen Moore. Around here we also celebrate March 28 as “Falcons Day.” IYKYK so you better know. Looking forward to a great 2025 season.
TODD MATHERNE CEO and Publisher Renaissance Publishing
504- 830-7216 kate@bizneworleans.com
504- 830-7246 meghan@bizneworleans.com
504- 830-7208 abby@bizneworleans.com
THE BUSINESS COMMUNITY IS TALKING ON BIZNEWORLEANS.COM
Catch all the latest news, plus original reporting, people on the move, videos, weekly podcast and blogs, digital editions of the magazines and daily Morning Biz and afternoon newsletters. If it’s important to business in southeast Louisiana, it’s at BizNewOrleans.com. BIZ TALKS
In less than two hours of
installation, our platform
can classify all road users – from private vehicles and public transportation to emergency services and pedestrians – and adjust signals in real time. This capability not only reduces travel times and CO₂ emissions but also significantly improves safety.
Tom Cooper, vice president, public sector at NoTraffic, a global company that uses an AI powered system to transform existing traffic signals into smart, cloud-connected hubs through the integration of plug-and-play AI sensors. The data collected by these sensors automatically reconfigures traffic signals and prioritizes emergency vehicles, pedestrians and cyclists, and adjusts crosswalk countdowns to extend crossing times when necessary. The system was installed on Canal Street prior to the Super Bowl and New Orleans city officials are considering expanding its use.
“In times of uncertainty, the role of community foundations is to help provide nonprofits with the information and resources they need to thrive,”
EPISODE 227
Love Letters to Local Businesses
Just in time for Valentine’s Day, StayLocal, Greater New Orleans’ independent business alliance, is kicking off a fun, year-long campaign designed to boost relations between New Orleanians and local businesses, as well as among the businesses themselves. Maryann Miller, StayLocal program manager, shares all the details.
EPISODE 226
Troy Henry Shares
Latest on Former Six Flags Site
Andy Kopplin, Greater New Orleans Foundation president and CEO, speaking about GNOF’s February launch of virtual workshops and training webinars, and the organization’s decision to speed up its annual grants processes and the payment of endowment distributions to make sure nonprofits have more available cash on-hand.
After 19 years, there is finally hope for the former Six Flags site in New Orleans East thanks to the tenacity of Bayou Phoenix, led by native New Orleanian Troy Henry. Henry shares why the project is a very personal one for him, where it’s at now, and when we’ll start to see new development.
Time, patience, money needed to rebuild a championship-caliber team
BY CHRIS PRICE
Fifteen years after winning their lone NFL Championship, the New Orleans Saints named Philadelphia Eagles offensive coordinator Kellen Moore as the franchise’s 19th head coach following his team’s stunning upset of the Kansas City Chiefs, 40-22, in Super Bowl LIX. Philly’s offense scored 33 of the Eagles’ 40 points and amassed 345 total yards against a Chiefs’ defense that was trying for their thirdstraight Super Bowl win.
In our team’s history the Black and Gold have had 12 full-time head coaches and seven interim head coaches.
Moore comes to New Orleans after serving just one season in Philadelphia. Previously, he served as OC for the Los Angeles Chargers in 2023 and the Dallas Cowboys from 2019-2022. He served as Dallas’ quarterbacks coach in 2018, after he retired from a six-year NFL career as a quarterback for the Cowboys and Detroit Lions.
To say that Moore, 36, is inheriting a mess is an understatement — several high-profile candidates removed themselves from consider-
ation for the position during the hiring process — but the lure of being one of only 32 NFL head coaches was too much for him to pass on.
The Saints finished the 2024 season with a 5-12 record and in last place in the NFC South division. The team fired head coach Dennis Allen nine games into the season after starting 2-7 and named Darren Rizzi, the team’s assistant head coach and special teams coordinator, as interim head coach. Although the respect of his players was obvious, Rizzi was only able to post a 3-5 record to finish the season.
Saints fans are hoping Moore can return the team to the success it had in its golden era under head coach Sean Payton, who was an up-andcoming offensive coordinator when the Saints hired him, but the new person in charge will need time, patience, and money to make it happen.
In 2024, the Saints finished 21st in the NFL in total offense, gaining an average of 320.1 yards and scoring 19.9 points per game (by
comparison, the Eagles were eighth in the league in total offense, with 367.2 yards and 27.2 points per game). On defense, the Saints finished 30th in total defense, giving up 379.9 yards and 23.4 points per game.
Although many think the roster needs a complete rebuild, the Saints are not in a position to invest in 2025. According to overthecap. com, a website that tracks NFL teams’ financial obligations, the Saints are $66.8 million over the salary cap entering the 2025 season, including $48.4 million in dead money going to players who are no longer on the team. In order to get under the league-mandated salary cap — which is projected to be $275 million in 2025 — the team will need to draft players who can contribute immediately and sign lesser-quality or lesser-known free agent players to fill the roster. If there is good news, it is that the Saints will have the ninth overall pick in the 2025 draft and high choices in subsequent rounds. T
KEITH TWITCHELL spent 16 years running his own business before serving as president of the Committee for a Better New Orleans from 2004 through 2020. He has observed, supported and participated in entrepreneurial ventures at the street, neighborhood, nonprofit, micro- and macro-business levels.
BY KEITH TWITCHELL
Establishing a brand is a vital step in creating a successful enterprise, but one that is often not given the importance it deserves. This is the basis for marketing a product or service; beyond that, it defines the identity of the company behind it.
While every entrepreneur is eager to get his/her product or service into the market as soon as possible, the process should not be rushed.
“Building a brand is something that evolves over time,” said Virginia Miller, partner and owner of the Beuerman/Miller/Fitzgerald (BMF) communications firm. “Too many times, entrepreneurs are thinking about filling a current void rather than looking farther down the road. You have to think long term.”
According to Courtney Cash, senior account executive at BMF, several key factors should be considered at the beginning of the brandbuilding process.
“You have to know who your target audience is, and work backwards from that,” she said. “How do you tell them your story? What is your
mission? What do you want your company to represent? Customers want to feel like they have a stake in the brand; how do you create that connection?
While businesses are understandably eager to begin seeing results, Miller and Cash emphasized that all necessary preparations must be made before going public.
“Be sure the product or service is truly ready to launch,” counseled Cash. “Make sure your brand is understood internally.”
Cash also noted that — especially given the wide variety of marketing options now available — branding should be completed before a marketing plan is developed. The nature of the brand should drive the nature of the marketing.
Another facet Miller pointed out is “don’t go overboard on your brand promise. It is so hard to recover from a bad perception.”
As an example, she cited BP Oil Company branding themselves as a green energy company, which backfired badly after the Deepwater Horizon oil spill.
“You must prepare for potential risks,” she said. “You don’t want to find yourself facing an
issue that forces you to respond in a way that doesn’t align with your brand.”
One major branding decision is determining the degree to which the company’s founder/ owner will be the face of any public campaign. The temptation to be out front is often strong; as Cash noted, “Entrepreneurs feel like they are the best person to tell the story.”
While this can be a successful approach (a local example would be Lamarque Ford), it has risks and limitations. If the owner runs into any kind of problems or controversy (think Martha Stewart), the brand can be seriously tarnished.
Looking further ahead, being the face of the business can be a substantial impediment if the founder wants to sell.
Once a brand is established, finding the right balance between consistency and flexibility is the next challenge.
“You’ve got to be pliable, be ready to pivot,” Cash advised. “Anything can come up at any moment. You don’t want to come across as tone deaf, not listening to your end user. Sometimes you may need to pause messaging or a campaign.”
The flip side, in Cash’s words, is “being relatable and being relevant, staying true to your mission and message, being someone people feel like they can trust.”
Miller stressed that navigating this channel successfully requires constant vigilance, monitoring events, influencers, competitors, marketplace changes, costs and more.
“The most successful campaigns are those we look at every day,” she said. She also noted that smaller, more targeted campaigns are frequently both more successful and easier to manage.
Amid the flurry of product development, company-building, marketing and more, brand-building is often given secondary consideration. Yet few things are more integral to success than how the public perceives your business — your brand. T
While AI continues to make headlines globally, it’s also helping local companies.
JEREMY MARSHALL was born and raised in Baton Rouge before moving to New Orleans with his wife, Kristin, in 2018. Beginning his career in the film/TV industry, Marshall worked steadily on over a dozen projects before transitioning to Renaissance Publishing as sponsored content coordinator. He may be reached via email at jeremy@myneworleans.com.
These startups may be young, but they’re growing fast.
BY JEREMY MARSHALL
While still in their infancy, multiple Gulf South innovators are tackling big problems on a local level, driving jobs to Louisiana and making us all the healthier along the way.
INCREASING ACCESS TO HEALTHCARE
Rebekah Gee, MD, MPH, FACOG, the former secretary of the Louisiana Department of Health, witnessed some big issues firsthand as the state expanded Medicaid in 2016.
“Healthcare is a basic human right, and while we have programs in place, access can be difficult,” said Gee. “There is no way for a mother of four, who has premature infants, for example, to receive healthcare for the family without childcare or assistance.
Created in 2022, Nest Health brings in-home primary and mental healthcare visits directly to in-need communities at no additional cost to qualifying families. Pioneered in remote areas in Alaska, Nest Health works with health
insurance providers like Blue Cross Blue Shield to identify patients who are not currently receiving primary care and aids through a team of local nurse practitioners, doctors, therapists and family advocates who share a cultural identity with the communities they are serving.
The goals is to make it easier for Louisiana families to get care while also helping to relieve the burden on local hospitals and ERs by preempting preventable injuries. Currently seeking additional funding with plans for growth, Gee hopes to expand their model throughout Louisiana and nationally.
“We are now able to reach thousands of people that were unreachable before,” said Gee. “These gains will greatly benefit the community beyond the immediate monetary savings.”
With recent investments from Ochsner and Tulane, Nest Health has spread its successful model of family care across Jefferson, Orleans and St. Bernard Parishes, with Baton Rouge soon to follow.
The New Orleans BioInnovation Center (NOBIC), a private, nonprofit business incubator, has been supporting biotech businesses since it opened in 2011, offers 66,000 square feet of state-of-the-art wet lab, office and conference space that aims to provide startups with the necessary connections, credibility and capital they need to traverse the path to success and innovation.
One of those startups is Informuta, which in November was named the grand prize winner in NOBIC’s international pitch competition BioChallenge 2024, along with “Audience Favorite.” The company’s technology allows for DNA sequencing to be used to predict if bacteria will respond to different antibiotics or develop future resistance. Informuta’s mission is to revolutionize infectious disease detection.
Co-founded by Dr. Kalen Hall and Dr. Leo Williams of Tulane University, Informuta is just one of dozens of BioInnovation startups maximizing the potential of new technologies to solve age-old medical maladies, revolutionizing the ability of healthcare providers to save more lives more efficiently.
Led by Executive Director Kris Khalil, incubators such as the NOBIC are at the forefront of discoveries and investments and are quickly becoming a national force due to the collaboration of entrepreneurs, institutions and investors.
“What you’re seeing here at the BioInnovation Center is a bridging of the gap between ideas and real-world impact,” said Khalil. “At the end of the day, we have been working to transform healthcare nationwide for more than 12 years and are just getting started”
Communication between healthcare providers is one of the greatest hurdles to efficiency and effective care, with medical error the third leading cause of death in the United States. Poor communication invariably leads to inefficiencies in the United States healthcare system, estimated to lead to $340 billion in losses annually.
Founded in 2013 by Dr. Chip Grant, Watershed Health is dedicated to changing this reality with their platform that connects hospitals and healthcare providers in a collaborative, digital ecosystem. Today, most national health plans utilize Watershed Health, with 8.5 million patients benefitting from its effective and lifesaving service.
“After digging into the realities of the current health information exchanges, it became rapidly clear that not only was there not a solution but there wasn’t a promise of a solution,” said Grant. “It was necessity that began Watershed Health.”
A similar lack of digital communication plagues the clinical care industry, where those paying for healthcare are too often blind to provider options or insurance coverage availability. Enter TPN.health, a New Orleans-based healthcare services company that has created a digital platform that connects payers and providers on one, easy-to-use, service.
“Today we are touching 14,800 clinicians just in Louisiana and have expanded to 52,000 nationally on the platform,” said Co-founder and CEO Trevor Colhoun. “Soon, we will be launching that platform to consumers directly in Louisiana, Tennessee and Texas. Louisiana is our home and is where we are making quantum leaps in the technological capacities of behavioral health.” T
While artificial intelligence continues to make headlines globally, it’s also helping local companies.
BY KELLY HITE
AI has been all over the news for a while, but one of the biggest stories came on Jan. 27 with news about DeepSeek, a Chinese artificial intelligence company based in Hangzhou, Zhejiang.
DeepSeek’s latest AI model, DeepSeek-R1, temporarily upended the marketplace with its ability to perform tasks at a level comparable to OpenAI’s ChatGPT, but with a much lower development cost, and requiring only one-tenth of the computing power typically needed for comparable large language models (LLMs).
“DeepSeek’s entrance to the market is like the equivalent of an 11-year-old making it into
the NBA,” said Henry Hays, CEO and founder of DisruptREADY, a Baton Rouge strategic advisory firm that helps executive teams keep up with rapidly evolving technologies such as blockchain, crypto, and Web3.
“Open AI spent four years training ChatGPT 3, spending over $100 million,” Hays explained. “DeepSeek spent around $5.5 million with just 200 employees. To put the pace of change into perspective, Netflix, one of the original gangsters in the streaming service arena, took three and a half years to get to 1 million paid subscriptions. It took ChatGPT just five days. That was two years ago. Now, with DeepSeek, we’re dealing in a space and speed we’ve never seen before.”
Despite recent security concerns over DeepSeek’s website code potentially transmitting user data to banned Chinese telecom China Mobile, AI technology continues advancing toward seamless integration into daily life, with agents increasingly able to predict and understand consumer behavior.
“Like J.A.R.V.I.S. used by the fictional Iron Man character Tony Stark in the Marvel Universe, we will have AI agents in real life,” said Hays. “It’s closer to reality than most people think.”
These agents will be able to understand consumer preferences and purchasing habits, such as size and color preferences, while anticipating needs like delivery services.
In the ever-growing travel industry, AI is used in multiple ways. AI not only makes personalized suggestions about flights, hotels and activities, it can also provide 24/7 help with booking changes and flight delays and create customized itineraries. It can provide speedy updates on health, weather and security alerts, detect fraud, and quicken customer feedback analysis.
“Imagine an AI agent that understands your travel preferences and automatically makes the best choices for you,” said Hays. “Without AI we go through a cascade of decisions when booking travel, but that can all be handled seamlessly by AI, which gives us more free time.”
Local company iSeatz — which just celebrated its 25th anniversary in August 2024 — evolved from a restaurant reservation platform in 1999 to a global leader in travel technology that has powered nearly 40 million bookings for more than 65 million travelers and processed more than 928 billion loyalty points since 2008.
iSeatz empowers financial services and affinity brands to create rewards ecosystems that attract and retain customers while helping brands differ-
entiate themselves in competitive markets and strengthening customer loyalty. The company’s customers include American Express, IHG Hotels & Resorts, and Wyndham Hotels & Resorts.
iSeatz uses AI to automate customer support, fraud detection, data management, and testing for its evolving LXP platform, which integrates booking platforms for travel, hotels, and airlines, including the American Express’ rewards-based travel system.
iSeatz also uses AI to develop technology designed to accommodate users with diverse abilities. Zivile Goodwin, iSeatz accessibility specialist and software engineer, emphasized that accessibility goes beyond regulatory compliance — it’s about creating digital experiences that genuinely serve everyone. Neglecting this not only impacts users with disabilities but also makes poor business sense.
According to Goodwin, 20–30% of the global population experiences some form of disability ranging from vision and hearing impairments to mobility limitations and cognitive-processing difficulties. For businesses that rely on digital user interfaces when engaging with their customers, the user experience is integral to customer retention and loyalty.
“Imagine being a long-time member of a loyalty program and suddenly finding that you can no longer fully utilize it because the user interface has become difficult to navigate with your declining vision,” said Goodwin. “Multiply that disappointment across hundreds, or even thousands, of customers and the cost of investing in accessibility features seems minor in comparison.”
The loss would be enormous. “The total after-tax disposable income of working-age people with disabilities in the U.S. is approximately $490 billion,” added Goodwin.
Travel booking interfaces not only need to be user-friendly for people with vision, hearing, or cognitive disabilities, but they must easily accommodate specific travel requirements such as wheelchair accessibility, availability of roll-in showers in hotels, bed height and elevator access.
AI can adjust the online interface based on user preferences, such as providing larger text, high-contrast modes, or screen-reader-friendly layouts. It can also utilize voice assistants to guide the visually impaired, remember user preferences and automatically apply them to future bookings, and prioritize listings based on accessibility needs.
Netflix, one of the original gangsters in the streaming service arena, took three and a half years to get to 1 million paid subscriptions. It took ChatGPT just five days. That was two years ago. Now, with DeepSeek, we’re dealing in a space and speed we’ve never seen before.
Henry Hays, CEO and founder of DisruptREADY, a Baton Rouge strategic advisory firm
AI is also transforming healthcare in New Orleans through partnerships and innovation, local experts say. “Large enterprises are increasingly adopting AI solutions,” said Robert Lalka, executive director of Tulane University’s Lepage Center for Entrepreneurship and Innovation. “Ochsner Health recently partnered with DeepScribe to implement speech recognition technology across its 46 hospitals and 370 care centers to improve operational efficiency and patient care.”
Healthcare startups are also leveraging AI.
“We’re seeing innovation from startups like Informuta, which received a $275,000 National Science Foundation grant to develop AI tools for identifying antibiotic-resistant genes,” Lalka said. “This technology could revolutionize treatment of antibiotic-resistant diseases.”
Tulane University received $23 million in federal funding through President Biden’s Cancer Moonshot initiative for MAGIC-SCAN, an AI-driven imaging system.
“This technology will help surgeons detect minute cancer cells during operations, reducing the need for repeat surgeries,” Lalka said. “It positions New Orleans as an emerging biotechnology hub.”
James Zanewicz, chief strategy officer at Tulane’s School of Medicine, sees broad applications for AI in healthcare. “If you look at the full healthcare spectrum, AI is involved from early drug research and genetic targeting to back-end operational efficiencies,” said Zanewicz, who serves on the boards of the Alliance for Artificial Intelligence in Healthcare (AAIH) and Biotechnology Innovation Organization.
While acknowledging implementation risks, Zanewicz emphasized AI’s potential to improve healthcare access. “AAIH is a good example of a premier organization operationalizing AI not just to improve patient care and increase healthcare efficiency but also to establish ethical standards and regulatory principles,” he said.
Tulane researchers are collaborating with LCMC and Ochsner health systems on AI applications for billing and coding optimization. “Tulane may not have the computer science resources of Stanford or MIT,” Zanewicz said, “but we have something unique — an incredibly diverse data set which gives us a wealth of healthcare data, making us an ideal partner for AI-driven medical research.”
Jared Loftus, CEO of MaxBoring, a company that builds infrastructure for cryptocurrency blockchains, said he relies on AI to stay competitive as a solo entrepreneur in the fast-moving Bitcoin mining industry.
“I received a large PDF of accounting data that I needed to analyze,” he said. “AI converted it into a spreadsheet in seconds, saving me hours of work.”
Loftus also uses AI to cut electricity costs and improve efficiency in cryptocurrency mining with alternative power sources.
“Instead of relying on expensive grid electricity, we use excess gas from oil fields to generate power for our computers,” he explained. “This turns wasted energy — gas that would otherwise be burned off — into something productive.”
Navigating the oil and gas sector presented new challenges for Loftus.
“There are a lot of moving parts, and I’m just one person,” he said. “Industry experts talk to me about industrial generators, combustion ratios and Caterpillar specs. To keep up, I feed documentation into ChatGPT and it lets me stay in the game.”
At just $20 a month, Loftus sees AI as an invaluable resource.
“It’s making a meaningful difference in my business.” T
CHRIS
FERRIS is the president and CEO of Fidelity Bank and NOLA Lending Group. He may be reached at chris. ferris@bankwithfidelity.com.
Fidelity Bank CEO shares the implications for banks, consumers and local communities
BY CHRIS FERRIS
Over the past year, Fidelity Bank underwent the exciting process of demutualization — transforming from a mutual organization into a publicly traded company owned by shareholders.
As a financial institution that has been part of New Orleans for more than 116 years, this move marked a major shift in Fidelity Bank by offering shares to the people in the communities we serve.
The process culminated in Fidelity Bank’s initial public offering (IPO), joining the Nasdaq Capital Market this past October, which allowed us to sell shares to the public. During the IPO, Fidelity sold 19,837,500 shares of common stock, which includes 586,655 shares sold to the bank’s Employee Stock Ownership Plan, for gross offering proceeds (before deducting offering expenses) of approximately
$198.4 million based on the offering price of $10 per share.
IT’S GOOD FOR THE BANK.
Demutualization will allow us to position Fidelity Bank to compete more effectively in the increasingly competitive financial services sector. It has provided us with immediate access to capital markets with the goal of facilitating growth and innovation. This influx of funds can be used to enhance our services, improve our technological offerings and expand our branch networks into new markets so that we can help more communities while building a more robust financial institution.
An additional focus for the bank will be to effectively manage shareholder interest while remaining committed to our community banking model. We believe it is fully possible to balance the interests of shareholders with those of the customers we serve throughout the great state of Louisiana.
IT’S GOOD FOR CONSUMERS.
What does all this mean for consumers?
With the new capital we now have access to, we will streamline and enhance existing products and service offerings with a specific priority to include enhanced digital banking options.
In the end, clients will still have the experience of collaborating with a community-owned financial institution that is committed to investing in the community and enjoy local decision making. Prior to the decision to demutualize, we were already expanding into new markets by opening new branches in Baton Rouge and Lafayette, and we plan even more growth in the future.
We want to be Louisiana’s go-to bank for small business loans, community development initiatives and educational programs. With our investments, we hope to stimulate our local economies and foster entrepreneurship.
IT’S GOOD FOR THE COMMUNITY.
Social responsibility means a lot to Fidelity Bank, and we are always challenging ourselves to further enhance our connection with the community, whether philanthropically or through supporting local events like our POWER (Potential of Women Entrepreneurs Realized) program and our Community Partner program for nonprofits. We know these initiatives strengthen our role in the community and increase customer loyalty, benefiting both our bank and the local economy.
Bank demutualization is a long and complex process that represents a significant transformation in the financial landscape, with far-reaching implications for banks, consumers and our local communities. Our commitment to be a safe and sound financial institution remains for our clients, the community and now our shareholders.
As we continue to grow and evolve, we are confident our continued emphasis on relationship development, community engagement and client satisfaction will lead to our future success as the community bank of choice in the markets that we serve. T
JON ATKINSON is CEO of The Idea Village, a nonprofit founded on the principle of supporting regional startups and the big thinkers that power them. He may be reached via email at jatkinson@ideavillage.org.
It’s time to put our money where it belongs, here at home.
BY JON ATKINSON
New Orleans Entrepreneur Week (NOEW) — a citywide celebration of innovation and culture — opens on March 24. Now part of the rhythms and rituals of our city, NOEW 2025 will be co-produced by Loyola University New Orleans and The Idea Village will once again connect local entrepreneurs with our vibrant business community, educate future startup founders and link our ecosystem to the global stage.
As NOEW celebrates 15 years, we take stock of the role that systems play in building a thriving entrepreneurial ecosystem. NOEW has helped shape a local system of entrepreneurship built on collaboration and authenticity that is centered in a unique sense of place.
We’ve seen homegrown companies like Lucid, Levelset and others bootstrap their startup and ultimately generate billions in new wealth, pulling our local economy into the 21st century.
As important and critical as these initial wins are, they can only take us so far. To thrive as a self-perpetuating system at scale requires that we consistently remove barriers to the resources that startups need to be successful: capital, talent, customers and access to interesting problems.
Venture capital is the critical fuel necessary to grow startup companies — which are truly the engines of local economies. Venture-funded startups create jobs at an outsized rate, and they are dynamic yet rooted and durable to most external shocks. Most importantly, they have the potential to create new wealth and pathways to opportunity at the individual level.
For most of the past decade, roughly 75% of venture capital has gone to just three states — California, Massachusetts and New York, leaving the rest of us to battle it out for the remaining dollars. Forty-seven states can’t be expected to grow their respective economies on 25% of the fuel. We must find other ways.
To break this cycle, we must invest locally. We must be bold enough to put our own capital at risk. Local institutions must rethink how we are allocating the investable assets we control. Despite a focus on local impact, local community-serving institutions (including banks, foundations and others allocating small and large resource pools) often send a disproportionate share of their investable assets to national and global markets without thinking about local economic consequences. If we want to change systems, we can’t continue to blindly export our collective savings and then wonder why national investors fail to support local growth.
According to recent IRS data, there are roughly 7,000 active nonprofit organizations and foundations domiciled in Louisiana. Collectively, these community-serving institutions hold $67.4 billion in assets. If just 2% of this local wealth were directed to investments in local startups, $1.35 billion would be yielded in additional LP (Limited Partner) capital available to local funds and local startups. Similar math and logic apply to local corporations and savings vehicles like pension funds with even higher numbers. Embracing this logic would represent exponential change.
We must make bold bets on ourselves to build a dynamic local economy. We must be thoughtful about how we can collectively build a better system.
Come to NOEW to be inspired about what is possible on an individual level but also for a window into what New Orleans and Louisiana could look like if we collectively aligned our assets and beliefs to create another $1.35 billion in local startup investment. T
BY JOSH FLEIG
On February 6, 2025, Louisiana did something it has never done before.
For the first time at the state level, we made it clear: fostering high-growth, technology-enabled startups is the key to our economic future. We’ve spent decades talking about how to diversify and grow Louisiana’s economy—but without a real strategy to support the kind of companies that create new industries, new wealth and new high-paying jobs.
Leveraging the biggest stage in the world, Super Bowl LIX, we launched Louisiana Innovation (LA.IO), with more than a statement. We laid out a plan. A plan to ensure that Louisiana isn’t just a place where good ideas are born, but a place where they scale, succeed, and stay. We’re doing this by:
• Creating the right policies to make Louisiana a competitive home for innovation-driven businesses;
• Helping universities commercialize research so that discoveries made here turn into companies built here;
• Supporting high-growth founders by connecting them with the capital, infrastructure, and mentorship they need to scale; and
• Becoming a national leader in applied AI to ensure our asset industries — energy, manufacturing, trade, and agriculture — aren’t disrupted from the outside but transformed from within.
And we’re backing this strategy with action. At our debut last month, we announced:
• The Louisiana Growth Fund — A new $50M fund to support early-stage, high-growth startups with direct investment and funding
mechanisms to ensure that Louisiana founders have access to the capital they need to scale.
• The Louisiana Institute for AI — A statewide hub to drive applied AI research and commercialization, positioning Louisiana as a leader in artificial intelligence for our legacy industries.
• A Landmark Partnership with Waymo — Teaming up with one of the world’s leading autonomous vehicle companies to bring next-generation transportation technology to Louisiana and positioning the state as a proving ground for AI-driven mobility.
The LA.IO Event Series — A year-round calendar of innovation-focused events that will convene founders, investors, and industry leaders to accelerate momentum, build networks, and strengthen Louisiana’s startup ecosystem.
But let’s be clear: this isn’t just a policy shift; it’s a cultural shift. And culture doesn’t change overnight.
Louisiana has long been a state where people build things — industries, infrastructure, ideas. But when it comes to high-growth startups, too often we’ve told ourselves that real innovation happens somewhere else. That the companies shaping the future belong in Silicon Valley, Austin, or New York — not here.
That’s the mindset we must break.
Building a strong startup ecosystem isn’t just about capital or incentives — it’s about believing in our own entrepreneurs. It’s about ensuring that when someone in Louisiana has a bold idea, their first instinct isn’t to leave, but to stay and build. And that only happens if we all buy in — universities, lawmakers, investors, business leaders, and the people of New Orleans and Louisiana.
So, here’s the call to action: We need more of Louisiana betting on more of Louisiana.
Louisiana Innovation has laid the foundation. Now, it’s up to all of us to make sure this moment isn’t just a flash of momentum — but the start of something transformational.T
Founded and run by The Idea Village for 14 years, New Orleans Entrepreneur Week returns for the first time March 24-29 as a co-production with Loyola’s Center for Entrepreneurship and Community Development, under the direction of veteran tech entrepreneur Bobby Savoie. What does this change mean for the event? Savoie explains.
“If this model succeeds, there’s no reason this can’t be done statewide. I really would like to see it become a Louisiana event, more than just a New Orleans thing.”
JJUST LIKE THE STARTUPS IT CELEBRATES AND SUPPORTS, New Orleans Entrepreneur Week (NOEW) is a venture that is constantly looking to grow, and growth comes through change and sometimes reinventing yourself.
The “weeklong celebration of innovation, entrepreneurship and culture in the Gulf South” that we now know as NOEW debuted in 2011 — a time when New Orleans was experiencing a post-Hurricane Katrina boom in entrepreneurship reaching 40% above the national average. Over the years, NOEW has transitioned from a business event to a community event, with educational and networking experiences throughout the city. Last year’s NOEW included 101 sessions, 268 speakers and 27 different venues. The event drew 5,400 virtual and in-person attendees, a 31% increase over 2023.
One thing has not changed, however. While NOEW has long been aided by multiple sponsors and partnerships — including last year’s announced partnership with the New Orleans Book Festival at Tulane University — it has always been under the sole direction of The Idea Village.
But now, for the first time, The Idea Village is sharing the load with someone else — the Loyola College of Business, specifically Loyola’s Center for Entrepreneurship and Community Development, both of which are led by Robert “Bobby” Savoie.
It would be hard to find a person better suited to help lead the event through its next phase of development.
First, Savoie is a successful entrepreneur. Loyola lured him out of retirement after a 42-year career in business (36 of those years spent as CEO of companies he founded or co-founded). He has launched several successful global business ventures, including the information technology and engineering services firm Geocent that was headquartered in Metairie until it was acquired in 2021. He also worked as an engineer and consultant, primarily in nuclear power and
defense. Among his clients were the departments of Defense and Homeland Security and NASA, which honored Savoie with its Distinguished Public Service medal, the highest award bestowed on a non-NASA employee.
He is also passionate about education. Savoie earned a PhD. in engineering and applied sciences from University of New Orleans, an MBA from Loyola University New Orleans and a Bachelor of Science in industrial engineering from Louisiana State University. He has served on various boards at each of these institutions, and all three have honored him for his contributions and achievements. UNO’s College of Engineering is even named for Savoie.
Finally, Savoie has a strong community focus. As well as serving on the board of The Idea Village, Savoie is currently a board member of the UNO Foundation, the LSU National Board, the LSU Health Foundation and the Aerospace Alliance. His past board service has included organizations like the Boy Scouts of America, The National World War II Museum, the U.S. Small Business Technology Foundation and GNO, Inc. In a recent interview with Biz New Orleans, Savoie explained how Loyola’s prominent role in NOEW this year, and moving forward, is part of an effort to take NOEW to a whole new level.
The Idea Village has partnered with a lot of groups, but never to the level of co-producing. How and why has this happened?
For one, I’m very familiar with Idea Village. I was involved when it first started. I’ve always loved NOEW. Having our Center for Entrepreneurship and Community Development partner with The Idea Village, where we’re able not only able to host it but to co-produce it, and do it at the same time as Tulane book fest and Tulane’s Innovation Week, is a great opportunity. We’re a block apart, so the students can go back and forth, the professionals can go back and forth. You’re talking about 2,000 students between Loyola and Tulane who will be exposed to NOEW. And you’re talking about 3,000 to 5,000 professionals — everything from entrepreneurs to businesspeople to the businesses that sponsor it, the venture capitalists — they’re all getting exposed to the students.
Students will learn a lot, will see people who are successful in entrepreneurship, will see businesses that are successful. And the businesses get their names in front of these students who may be ready to graduate and do something with them. I truly believe that it’s going to make for a great mix.
What changes will people see in NOEW with this new setup, this year and potentially in the future?
The main change will be involving the students, and the partnership of four universities. We’re going to co-produce, but Tulane, UNO and Xavier
Students will learn a lot, will see people who are successful in entrepreneurship, will see businesses that are successful. And the businesses get their names in front of these students who may be ready to graduate and do something with them.
are all partnering with us to do this. They will host “NOEW in Your Neighborhood” events, and they will be here, involved with the main event. In the future, the plan hopefully would be to expand that more regionally. I would love to involve Southeastern and Nicholls and reach into those communities.
Then if this model succeeds, there’s no reason this can’t be done statewide. I really would like to see it become a Louisiana event, more than just a New Orleans thing. I think expanding regionally is our first step, and hopefully, if we can do that, we’ll have the support of Louisiana Economic Development and the administration to do more elsewhere in the state.
Somewhere down the road, is Loyola interested in taking over the full production of NOEW?
Yes, if things go well this time, and if that is something that The Idea Village would like us to do, then we absolutely would embrace it. We would want to do it in partnership with the other universities as well.
You retired from your business career in October 2023 and began serving as interim dean of Loyola’s College of Business on January 1, 2024, a position that then became permanent in October 2024. What was it about this opportunity at Loyola that drew you back into the working world?
My first answer was an emphatic “No!” My wife and I were in Greece celebrating my 42 years of work and now retirement, but over the next couple of months, through a lot of thought and prayer, it seemed like it was the right thing to do, to give back to the students, to the city. My wife and I are strongly committed to education. It’s the great equalizer. I felt like it was put in my path for a reason.
Even after your success in business, you decided after you sold your second company to return to school to get your PhD. Why was that?
It was a promise I made to myself 28 years ago. I finished my first semester of my PhD, but my wife and I were getting married in a few months and I was broke, so I decided I would go work for a while, then go back to school. I did not expect it to be 28 years later. I had a three-year non-compete agreement with the company that had bought my second company, so I figured why not? And I thoroughly enjoyed it. I sat in class for two years, then spent a year and a half doing my dissertation.
You have served on the boards of all three of your alma maters. Obviously, you have a passion for higher education. What role has formal education played in your success?
It opened doors to give me an opportunity to prove what I could do. My first job was working at the Waterford 3 nuclear plant, which was like throwing a fish into water, I loved it. I was able to design systems to help us to not only build but license the plant. Between my engineering degree and my MBA, I understood both the business aspects and the engineering aspects of it. A formal education opens the door for you to prove what you can do and then advance rapidly if you are able to do it. It brings opportunities that not having a degree might limit you from.
In general, how important would you say a formal education is to success in business?
I think it’s extremely important. There are people who succeed in business without a college degree or much formal education, but it’s harder. I’ve watched a lot of people who worked for me be limited in their careers, simply
A formal education, to me, is the way that we lift the bottom one-third of our city, of our state. I’ve always told my children that we are only as good as the bottom one-third of our city, and if we don’t help lift them up, we will never be what we could be.
because different jobs required a degree. We did a lot of contracting work with the federal government, and people who I knew could do the job, I couldn’t put them in those positions because they required a degree. Again, education is a great equalizer. A formal education, to me, is the way that we lift the bottom one-third of our city of our state. I’ve always told my children that we are only as good as the bottom one-third of our city, and if we don’t help lift them up, we will never be what we could be.
What are some things that you learned from experience that you wish had been included in your formal education?
Something I learned from my grandfather. He said, “Never expect anyone to work harder than you’re willing to work.” Despite having multiple degrees, I worked 60 hours a week. Sixty hours was a short week for me when I was building my companies.
Formal education doesn’t tell you that you’re going to have times when you have to make a choice between paying your house note or paying your employees. And, of course, the answer is you pay your employees. So, I wasn’t as prepared for the downturns in business as much as I was prepared for the upturns. But that’s when you just buckle down and work harder.
I can’t say enough about work ethic. I grew up on a sugarcane farm where everyone worked hard. When I was 14, I used to dig the mud out from under the bottom of the scales where we weighed the cane trucks. I’ve always said that I would hire someone with a “C” average from the University of New Orleans with a great work ethic, worked their way through school, before I would hire someone from an Ivy League school with a 4.0 average but had
never had a job. I don’t think we stress enough how important it is to have a great work ethic, to be able to communicate, to look someone in the eye when you are talking to them. We can teach somebody all the technical skills and software and business skills that we want to, but those softer skills are equally important.
Looking back at your first year as dean, what have been the biggest surprises and/or lessons?
No real surprises — I have been involved with Loyola for a long time. But the challenge is all the impediments in higher education that make things go so slowly. One of the things I told the provost and the president is that I will take this job as long as you let me get around the impediments and support me in doing that.
We’ve made great progress. We need to embrace AI before it rolls over us, and we’re doing that. We’ve repurposed two of our chairs in pretty much record time, and they’re focused on what the College of Business needs to be.
I’ve spent a lot of time talking to CEOs that I know, and they’ve all told me the same thing: We need to graduate critical thinkers that are problem-solvers, that know how to use AI and other technologies, to not only help their companies but to help their customers. That’s what’s going to make a difference at Loyola. I did face, and still face, the challenge of trying to do that more quickly than it’s normally done in academia. If this was a company, I could do it in a year. It will take me three here.
That would be one obvious difference between running a business and running a university department. What are some other differences and/or similarities?
There are a lot of internal politics. You have it in private industry, but in private industry, I could just push it aside. You can’t do that quite as easily in academia. You really need to attract people to an idea, get their support, where in a company I could just say, ‘All right, this is the direction we’re going to go in.’ Here I need to get the support of a whole lot more people. And keeping it is equally hard. I can’t do anything without my faculty agreeing to it. I’ve got to work with them and get them to understand it, and listen to them and their ideas, because they’re brilliant people.
What are your goals for the business program here?
To take what is a good college of business and make it a great college of business. One, by bringing in some new technology. I mentioned AI, and business analytics is critically important, that is our fastest-growing major, it is the problem-solving major. I’ve repurposed two of our chairs, one in entrepreneurship and the other in business analytics, because that’s where the future is.
Things that make us more than a vanilla college of business at a small, expensive liberal arts university, which is not a recipe for success. We have to have unique programs that are very attractive to people.
The co-producing of NOEW is with Loyola’s Center for Entrepreneurship and Community Development at Loyola.
Can you explain what that center does?
It encourages entrepreneurship with our students. We have a program called “Side Hustle Expo” where students in their dorms can start a business. Rather than getting a job somewhere, they make money by running a business out of their dorm room or apartment.
We also have something called “Wolf Pack LaunchU,” which allows anyone in the Loyola family to form businesses and go through the process of refining them. We then have a judging night where we distribute $30,000 in investment capital to these businesses.
We have come a long way as an ecosystem here from when I started my first company in 1986. No one knew what to do with a technology company. I couldn’t get funding for anything.
We have several other programs like that, one of which is a joint program with Idea Village called “IdeaCorps.” Many of these feed into Idea Village, which is why this move is a natural fit with our Center of Entrepreneurship and Community Development.
I taught a graduate-level course last semester in entrepreneurship, and my class put together an incredible business plan for putting electric vehicle charging stations in between metro areas. If you’re going to take EVs on vacation, you’re worried about charging. So, we had to come up with unique experiences that people could have while they are there for 20-30 minutes.
Our entrepreneurship program teaches realworld entrepreneurship to people who may want to do that at some point in their careers. Most people don’t start off as entrepreneurs. I didn’t; I had to get experiences and learn a lot before I started to become one. I’m very proud of that center.
What are your thoughts overall on the entrepreneurial ecosystem here? We have come a long way as an ecosystem here from when I started my first company in 1986. No one knew what to do with a technology company. I couldn’t get funding for anything. I paid my employees when I got paid because I didn’t have any money to pay them otherwise.
Now, I think our banking system has embraced entrepreneurship much more. Our accountants know a lot more about startup companies. Law firms are much more attuned to entrepreneurship. What I try to do is look at places like Silicon Valley, or Research Triangle, or Bangalore, India, 40 years ago and study how they got critical skill sets going. We have pieces of that in place now, it’s just on a small scale.
We still have challenges in trying to build companies here, because we’re not sophisticated enough to help scale small entrepreneurial companies into larger companies. However, our talent level here, particularly in anything related to software and technology, has gone up enormously in the last 20 years.
But all the elements that make an ecosystem — what I call “self-refueling,” where more money and jobs are coming in than are leaving — we’re not quite there yet. We’re an adolescent entrepreneurial economy, we’re not yet mature. But we can still get there. We limit ourselves. Some of the things that are inherently Louisiana are also limiting to entrepreneurship. But I think we have come a long way in the last 20 years, and I think we are still improving on a year-to-year basis. We’re headed in the right direction.P
TO SUCCEED, STARTUPS NEED FUNDING.
SO, WHO’S MAKING THOSE INVESTMENTS LOCALLY AND WHAT DO THEY LOOK FOR?
three pitches. We then have the founders leave and the members stay and discuss each pitch that we’ve seen and take a preliminary assessment of interest. If there’s enough interest — you know, five or six people, maybe more — we will schedule follow-up calls with the founders. From there, each member makes her own decision about whether to invest.
How Much They’ve Funded Our check sizes range from $2,500 to $5,000 sometimes $10,000, so small dollars, but we like to think that if we can get 10 women to write small checks like that it’s enough to get these very early-stage companies to the next level.
We want to teach other accredited women investors how to do this type of investing because it’s a high risk and many women have never been introduced to this type of investment before. We also want to support local women founders and help them to get to prime time capital.
What
company needs to be at least 51% owned by a woman and located in or around New Orleans. We are industry agnostic. We look for an idea that can grow and to scale. We have an expression that we use, that we’re betting on the jockey rather than the horse — what we really want to see as a founder who’s going to do whatever it takes, within reason, of course, to make this happen. Because ideas are a dime a dozen. It’s the execution that is everything. But here we do help. We use our network of expertise to help with mentoring, business consulting, guidance and connections.
IN THE WORDS OF ELIZABETH HARTMAN, CO-FOUNDER
Background Jane Cooper and I were both members of Gulf South Angels — then it was NOLA Angel Network — around the same time and became friends. We couldn’t help but notice that there was an underrepresentation of women receiving capital. Gulf South Angels really works hard to seek out women and minority founders but nationally, the data show that women startup founders only get like a very small percentage of the venture capital that’s being invested. So, we started this organization to invest in women-led enterprises with around 10 original members in 2022.
How They Operate We’re sort of a micro network is the way I look at it. We’ve grown to about 25 members. We meet every other month, usually at some someone’s home, and then we’ll see sometimes one, sometimes two, last month we even had
History We’ve invested in six companies so far, with a total investment of about $240,000. The latest one is Kouture Express — a beauty product kiosk that’s tailored to HBCU students. It’s a small investment, but we hope it’s going to be enough to get her to the next stage. The owner has a contract with Southern University and is going to be putting her first kiosks in, I believe, this semester.
We’ve invested in Junum, led by Molly Hegerty, that is a tool that helps hospitals and doctors diagnose and treat malnutrition. She’s really at the tipping point I think. We’ve invested in Krewe Car, a woman that runs a sort of concierge car service with car seats and drivers who have all been background checked and drug tested. She’s running in four cities now.
We invested in Glass Half Full — for that we formed an SPV (single purpose vehicle when investors pool their money) — and were in the major investor category, and also in Pet Krewe, which I think is going to be one of our big success stories.
Success Stories We haven’t had any exits yet, but we’re still young. I was thinking three to five years, but it’s typically longer than that to see a return on these types of investments. It’s not for the faint of heart.
How to Reach Them FlamingoFunders.net
IN THE WORDS OF JIMMY ROUSSEL, PRESIDENT AND CEO
Background The New Orleans Startup Fund was originally launched by a group of business executives looking to help diversify the New Orleans economy. The idea behind the fund is to serve as a very early investor in a lot of nascent businesses and try to de-risk the deals for follow-on investors — so both bring capital to market and also serve as the riskiest capital in the ecosystem.
How They Operate The Startup Fund is a 501 c3 evergreen fund, which means 100% of the money that comes back in the form of returns, we reinvest all that money. The operating expenses to pay my salary and the staff salary are charitable donations to the 501 c3, so we have donations from our board members, foundations, grants from the federal government, the EDA.
We call it a fund, but we're really investing under a program called SSBCI (State Small Business Credit Initiative). We're probably the largest and oldest SSBCI funder in the state. The organization has a staff of three, an all-volunteer board of about eight people, and an all-volunteer investment committee, which are entrepreneurs from a variety of different expertise who help us set the deals that we look at.
How Much They’ve Funded We typically are the first check in probably well over half the deals that we do. We're writing checks somewhere between $25,000 and $75,000 per initial check and we will invest up to $150,000 into any one company in follow-on rounds. Typically, the initial round sizes are somewhere between $100,000 and $500,000. By acting as the first check, we kind of act as a seal of approval.
We’re also structuring the deals. We're helping the young entrepreneurs in other ways, including maybe
setting their corporate foundation — whether it's an LLC or Delaware C Corp — for terms of the initial investment, along with the cap table, the corporate governance, all that kind of stuff.
Under SSBCI1 we invested $2 million but we recycled that money up until we made investments with about $3.5 million because we had some exits that came back.
Under SSBCI2, which started last year, we've invested an additional $1 million, and we hope to invest another $4.5 or $5 million on top of that.
We invested in just north of 85 companies over that 12-year period, including somewhere over around 100 to 110 rounds of financing. With some companies we will follow-on invest in subsequent rounds. We’ve had 10 exits, including one big exit in a company called Levelset a few years ago. We were the first check in Levelset.
Of the 85 copanies, we've had maybe 30 to 35 of those companies go out of business. We have 10 or 15 that, in investment parlance, are called zombies, which means they're paying their own bills but they're not growing tremendously big, and it's going to be hard for us to get our money out. And then the remainder are just typical growth companies that are underway and we're along for the ride at this point. Most all our companies are in Southeast Louisiana. We have one or two deals in Shreveport and a couple in Baton Rouge.
What They’re Looking For First and foremost, the biggest attraction is the person or people. Sometimes we'll even invest in a young, promising entrepreneur where we may think the idea is kind of iffy, but we want to give them the experience of going out and starting a company and we think that we can help.
We invest across all different types of industries; We have technology companies, life science companies, food companies, oil and gas, etc. What we don't do is traditional, “sin related” businesses like bars and restaurants, casinos. We also don't do “hit driven” businesses, like movies, albums, video games.
We also look for high growth companies. If you want to start a barber shop on Magazine Street, for example, that's great, but that's not for us right now. If you said, ‘I want to have 500 barber shops across the Southeast,’ that would be interesting to us.
I’m proud that we have pretty decent diversity metrics — about 50% of who we’ve funded are entrepreneurs of color, and about 35% to 40% are women.
Success Stories Levelset was a big one, but we have been in a lot of other big deals around town. We have a company right now called Quarrio, which is in the AI space, and they're out raising money right now. Our companies have gone on to raise somewhere north of $250 million in venture capital collectively.
How To Reach Them NewOrleansStartupFund.org
THE WORDS OF MIKE ECKERT, BOARD CHAIR
Background I started the group in April 2014 as the NOLA Angel Network. I had led angel groups in other parts of the country and had been involved in angel investing since the late 1990s. At that time, I was still on the board of directors of the National Angel Capital Organization. Ironically, one of the things I did was help angel groups get started…At the end of 2014, we had 80 members, and it grew from there. About a year ago, we rebranded to Gulf South Angel Network. Today, we have 140 members, which puts us in the top 15% of the approximately 400 angel groups in America in terms of size.
How They Operate We have a terrific board of directors. We’re all volunteers, with the exception of two part-time people.
Angel Investor: An early-stage investor who invests in a company in exchange for ownership equity.
Venture Capital: private equity funding for startup, early stage and emerging companies
Fund vs. Network: In a network, individuals decide for themselves where they want to invest. In a fund, investors pool their money and the decision to invest is usually made by a committee.
Funding Rounds: When businesses raise money from investors. Rounds are labeled as seed stage, then series A,B,C, etc, until the IPO (initial public offering) when a company begins selling stocks to the
We have two funds, and we quickly found that with a group that large, we needed to look at investment opportunities beyond Southeast Louisiana because there just wasn't enough for us. We invest nationally, and amazingly we get presented with an investment opportunity every day.
We run companies through a very intense vetting process and then our members decide if they want to invest.
How Much They’ve Invested Last year, we invested about $5 million in 19 companies. We are in the top 5% in America in capital invested. We shouldn't be in New Orleans, we should be in a top 10 or top 15 market, but here we are.
Since our launch, we’ve invested in about 60 companies in 18 states… I think we've invested in a dozen companies in Louisiana, almost all of which are in New Orleans…We have members in 12 states… Some of our members write $100,000 checks, some write $50,000 checks, many write $10,000 checks…Between our two funds we've invested over $25 million. We're the largest angel group between Houston and Atlanta, and maybe between Houston and the Atlantic.
We've also had exits or liquidity events where our members are making money, which is thrilling. We have a regular member education program where we provide education on becoming a better and wiser investor and about different trends. We've got one coming up on AI.
Investment History We are agnostic in terms of companies in which we invest. We've invested in a drug being developed to address a rare form of cancer in children, and we've invested in the next generation six pack holder, a pet costuming company and everything in between.
What They’re Looking For First, the management. We want to get a real feel for the team, the culture, the board, the investors, the advisors, the culture.
Many of the managers and CEOs of these companies are very inexperienced. They're very smart, very bright, they come up with good ideas, but they don't have a lot of experience in operating and building a company. So, we want to see who they've surrounded themselves with, or sometimes we, if we invest, we want to become involved as advisors or board members or board observers to help them. Second thing we look at is the market, the market opportunity, the size, the trends, the competition, the company's competitive advantage, the pricing, the partnerships and such.
public. Each round aims for higher amounts of funding and differs in the way the shares are being sold and how the investor receives returns.
We look at the company's product. Does it have a competitive advantage? If it's a manufactured product, where is it being manufactured? What are the supply chains? Are there tariff issues? If it's a technology company or software company, what kind of patents and IP do they have that would protect it? Of course, we study the financial model and the credibility of that.
Success Stories We haven't had any returns from New Orleans companies yet. There's one that we’re really high on, that's Obatala Sciences. And there's Pet Krewe, and Tray Away which are both going to be real winners.
But our biggest success is an exciting one. In 2022, we got a call from Mississippi Economic Development about two entrepreneurs out of Purdue in West Lafayette, Indiana, who had invented a solid rocket fuel and were going to come down to Mississippi, near Stennis, and develop rocket motors with their fuel, which makes rockets go farther and faster.
We decided to invest in the company (Adranos) so we put the deal together in about three weeks.
In early 2023, the CEO called me up and told me they were going to be acquired by a company called Anduril for $200 million. We had put $750,000 in it, so it was going to be a great return, which we ended up getting 50/50 in cash and stock. Today, the market cap for Anduril is $20 billion. Now we're sitting here holding stock in a company that likely will go public for about $50 billion.
How to Reach Them GulfSouthAngels.org
IN THE WORDS OF HAROLD “HAL” CALLAIS
Background I came up with the idea for Callais Capital 10 years ago. I live in Thibodaux, but I’m originally from Galliano. I was born into an entrepreneurial family; we’re four generations of entrepreneurs. My grandfather co-founded or founded
a number of companies….including four different commercial banks. So taking deposits, making loans, that's really where I cut my teeth.
I ended up being offered job opportunities, but I didn’t want to move. I wanted to carve a name for myself and that's where I came up with Callais Capital. I brought my brother and my dad in with me and over time, we've found our niche.
I became very quickly convinced that Louisiana's long-term success is going to be rooted in its ability to uplift its next generation of entrepreneurs; it has to be from building and investing in the community, so that’s what we do.
How They Operate Between Callais Capital, its subsidiaries, its related parties, its affiliates and other things, we're probably hovering around eight or nine people, full-time and part-time, across Louisiana. I have three or four people that operate on the deal side and I run strategy, direct the team, portfolio operations, that kind of stuff.
How Much They’ve Funded We've invested over $300 million in more than 80 companies.
What They’re Looking For We don't like to invest in an industry or a sector, we like to invest in the trends that are shaping that industry or sector. We have about 10 different themes we’re looking at right now, but energy is a big one. We've been involved with the LSU FUEL program since the beginning. I'm on the governance board, and I've been co-chair of the technology commercialization committee. Gov. Landry also appointed me to be on the Louisiana Board of Commerce and Industry last year, so I'm getting a lot of new, interesting perspectives on the industrial side of the economy here.
Historically, we have played mostly in seed Series A and Series B and Series C. Now we're less stage focused and more thematically focused. We’re more interested in finding the right opportunity that fits our thesis in that market… Where we found our niche is partnering with investors from out of the state where we can be the local partner. We've got a good reputation. People know us in the market
Success Stories The first startup in New Orleans that I backed that had an exit was in Enriched Schools, a marketplace for charter school teachers. They scaled up quick and had a quick exit after a few years. We also got involved with PosiGen a number of years ago. They've gotten to be pretty substantial… Something Borrowed Blooms is coming off of their best year ever, and then I have Mallard Bay. I love them. I'm also an angel investor in Fly Guys. ProKeep and Nest Health — they're on a great tear right now. And Docpace, they're up 100-plus-percent, year-over-year.
How to Reach Them
The best way to get our attention is to have a friendly referral. We get thousands of pitches a year, maybe 100 every week, including through our website (CallaisCapital.com). But in our experience the best deals have come from trusted referrals. P
WHETHER YOU ARE SEARCHING FOR ACCOUNTING EXPERTISE, ACCOMPLISHED PROJECT MANAGERS, OR IT WIZARDS, THESE B2B SERVICE PROVIDERS CAN EASE PAIN POINTS IN YOUR COMPANY AND PROVE THAT NEW ORLEANS BUSINESSES ARE BETTER WHEN THEY WORK TOGETHER.
AJG.COM Gallagher is one of the world’s largest insurance brokerage, risk management and consulting firms, and is the largest broker in Louisiana. As a community insurance broker and trusted local consultant, we help people and businesses move forward with confidence. We have over 53,000 people working around the globe, who are connected to the places where we do business. Managing risk with customized solutions and a full spectrum of services is what we do, we help our clients foster a thriving workforce, and our team always holds ourselves to the highest standards of ethics to help you face every challenge –that’s The Gallagher Way. For more information, visit ajg.com.
BIOSITGROUP.COM
As a business leader, you know that managing technology can be a headache, especially when you have a growing business to run. BIOS Technologies empowers businesses with comprehensive IT solutions designed to enhance security, streamline operations, and support long-term growth. From 24/7 monitoring and cybersecurity protection to cloud management and business continuity planning, BIOS ensures your technology infrastructure is secure, scalable, and efficient enough to ‘quite the noise’ of headaches due to unnecessary downtime. Learn more at biositgroup.com.
For over 75 years, Metairie Bank has been committed to serving the hardworking families and businesses of Jefferson Parish and beyond. Founded in 1947 by local business leaders to support Metairie’s prosperity, this beloved community bank has grown across Southeast Louisiana, now with nine locations, including two on the Northshore and a newly renovated branch on David Drive in Metairie, set to open this Summer.
“As a community bank, our mission goes beyond just meeting financial needs. We are dedicated to nurturing the growth, prosperity, and well-being of the communities we serve. Our goal is to build lasting relationships and provide the support every individual and business needs to thrive,” says John LeBlanc, CEO of Metairie Bank.
Metairie Bank’s dedication to its customers and the community has earned it widespread recognition. It has been named “Best Local Bank” by Gambit Weekly and consistently voted one of the “Best Places to Work” by readers of CityBusiness. Learn more at metairiebank.com.
We’re Blue Cross and Blue Shield of Louisiana, but you can call us Louisiana Blue. Our focus is serving our home state as we fulfill our mission to improve the health and lives of Louisianians. Celebrating a 90-year legacy of meeting Louisiana’s healthcare needs, we offer numerous health plans statewide to fit Louisianians’ needs and budgets. We have been recognized for the past six years as an honoree of The Civic 50, named by Points of Light Foundation as one of the 50 most communityminded companies in the country. Visit our website www.lablue.com or social media @MyLouisianaBlue.
As an internationally accredited economic development organization, Jefferson Parish Economic Development Commission (JEDCO) is a leader in building a resilient, equitable, diverse, and competitive economy for Southeast Louisiana.
JEDCO drives the retention and creation of quality jobs, entrepreneurship, innovation, and investment in Jefferson Parish by providing a mix of resources, support, and connections to partners. JEDCO also attracts new businesses to the community and supports existing businesses through a variety of services, including small business financing, tax incentive guidance, site selection, and Parish interface.
Visit JEDCO.org or call 504-875-3908 to learn more.
Jessica LeBlanc and her husband, Greg LeBlanc, own CPA Realty, LLC, a small boutique Real Estate Brokerage helping a variety of clients pursue their interests in real estate and/or expand their real estate portfolio, whether it is involving a commercial, residential, or investment property.
The CPA Realty team also includes several other valuable team members. Jessica’s son, Trey LeBlanc, handles marketing, and is currently pursuing an accounting degree at LSU. Colby Wenck is a Realtor® , and an attorney / owner of The Wenck Firm. Wesley M. Franatovich is a Realtor®, and holds an Anthropology degree from LSU. Megan Bardales is the executive office assistant, and has a business management degree.
In addition to CPA Realty, Jessica also owns a CPA consulting firm called Jessica D. LeBlanc, CPA, LLC, which is a small boutique firm helping a variety of clients with their outsourced accounting and forensic accounting needs.
Learn more at cparealtyllc.com.
58 WHY DIDN’T I THINK OF THAT?
Concrete that’s good for the environment? This entrepreneur has it.
62 NEIGHBORHOOD GEM McHardy’s Chicken & Fixin’
64
NEW ORLEANS 500 Hans Luetkemeier, president of The Dupuy Group
54 GREAT
A former school in Old Gretna earns high marks for style as a new, unique coworking space.
PRIMARY WORKSPACE 519 Huey P. Long Ave. // Gretna PrimaryWorkspace.com // instagram. com/primary_workspace/
A former school in Old Gretna earns high marks for style as a new, unique coworking space
BY MISTY MILIOTO
PHOTOS BY SARA ESSEX BRADLEY
Just opened in December 2024, Primary Workspace is the newest co-working space to open on the Westbank and expectations are high.
A unique coworking venture, Primary Workspace was created through a public/private partnership between Jefferson Parish, which owns the building; Jefferson Facilities Inc., a community development authority for the parish; and Formwork Development.
“It will attract business and activity to downtown Gretna,” said David Hecht, founder and principal of Formwork Development, “and it supports broader investment in the Westbank of Jefferson Parish.”
Hecht explained that the company conceived of Primary Workspace as the ideal economic development solution for the building that housed the first school ever built in the city. He added that the space also enabled the restoration of the 1910 building, which sits within walking distance to Old Gretna’s shops, restaurants, the courthouse and the river.
The ideal location has also inspired its use as an events venue.
Primary Workspace showcases restored historic carpentry along with modern wood detailing.
“The building includes a beautiful doubleheight commons [area] in the former school auditorium,” explained Hecht. “Events will activate the building on nights and weekends, further enlivening the surrounding community.”
The event space in the former auditorium features soft seating, a mezzanine that is open to the lower level, a stage and curtain details.
The building has an interesting history.
“It first opened as Gretna Primary, which is why we went with the name Primary Workspace,” said Jeff Parker, director of project management at Formwork Development. “It then served as a welding school during World War II [where female students learned to weld]. The German-American Cultural Center has occupied the first floor for the last couple of decades. The second and third floors have remained vacant and gutted for 50 years prior to the start of this renovation.”
The $3.5 million renovation — funded by parish government and state historic building tax credits — involved maintaining a careful balance of preservation and renovation.
“Some walls were moved, but we had to keep the significant features intact in order to receive historic tax credits,” said Kim Payne Allen, architect and co-founder (along with her husband, Ben Allen) of Studio BKA. “When we inherited the space, it was stripped down to rough studs. There were a few architectural details remaining, like the stage proscenium arch, a few door openings with trim and transoms, and the grand split staircase. All of these were historic elements that we wanted to feature in the new design.”
The team was careful to preserve the historically relevant hallways, staircases, entryway, light-filled corridors, windows, doors, moldings and flooring. The exterior walls were untouched, aside from structural shoring and cosmetic touches.
Most of the design interventions occurred in the former classrooms, which were extensively reconfigured to create offices, meeting rooms and support spaces. The team also created new secondary hallways along the back façade of the building to provide access to new offices.
Conceptually, the new offices are modern islands floating within the historic school exterior.
“Studio BKA’s extensive residential experience aligned with Formwork’s goal to create a workspace that felt more like a home and less like an office,” noted Hecht.
In addition to the interior design, Studio BKA generated big picture ideas, produced preliminary floor plans, and provided full architectural and FF&E (furniture, furnishings and equipment) services.
Inside, the finishes are a blend of old charm (like brick, plaster and original flooring) and modern touches — including updated light fixtures, access controls, furnishings and hardware; glass doors, sidelights and handrails; and meeting rooms with tech-forward business amenities.
“We were immediately drawn to cooler tones to complement the antique heart pine flooring, a prominent feature of the building,” Kim Allen said. “Blue tones were chosen not only to neutralize the flooring’s reddish hues but
The goal was to create a mix of spaces— from quiet, private working spaces to a medley of collaborative areas that are comfortable and beautiful.
also to bring a sense of sophistication and calm, ideal for a productive workspace. To honor the building’s Art Deco origins, we incorporated a fan motif into several wallpaper selections.”
The three conference rooms can expand and contract to accommodate business meetings of various sizes, and 20 private offices include between two and eight desks. There’s also a boardroom that can seat up to 40 people, several conference rooms, training rooms, two kitchens, breakrooms and phone booths.
A Primary Workspace membership — which includes access to shared spaces — starts at $150 a month. A dedicated desk costs $275 a month, and private offices start at $850 a month.
Hecht said his favorite space is the mail room.
“It has incredible millwork, great wallpaper and wonderful light fixtures, all designed by Studio BKA,” he noted. “The mail room [provides ancillary] services... to companies and sole practitioners. We take care of all the logistics of an office: receiving packages, printing systems, Wi-Fi, meeting rooms, cleaning, etc., so our members can focus on running their businesses.”
“I think we largely stayed true to the schoolhouse’s Craftsman elements, with inserted new elements of subdued contemporary contextualism that almost read as furnishings placed in the historic spaces,” said Ben Allen of the finished product. “We were very excited to place such a prominent public building back into service.” T
Number of years in operation
Grand opening in December 2024
Style of architecture
Schoolhouse Craftsman and modern contextualism
Square footage
17,544
Number of Employees
Two community managers
Persons in Charge
David Hecht and Jeff Parker with Formwork Development (developers and property management)
Architecture
Studio BKA
Interior Décor
Studio BKA
Initial Brand Development
Thought Partner
Art and furnishings
Studio BKA with AOS Interior Environments
BY ASHLEY MCLELLAN
PHOTOS BY EDMUND D. FOUNTAIN
Growing up in Harvey and Algiers, Johnnie James II said he always knew what he wanted to do, just not exactly how he was going to do it.
“My mother was the first person to own nail salons in Louisiana in the 1980s,” he said. “From as far back as I can remember, I’ve always wanted to be an entrepreneur.”
Over the years, James has worked as a consultant, actor, real estate developer and concert promoter, but the seeds of his biggest passion were planted 20 years ago.
“After being displaced by Hurricane Katrina, I lived in Albuquerque, New Mexico, where I
was first introduced to sustainability and aquaponics,” he said. “I was invited to join the board of a local NGO called the Sustainable Global Leadership Alliance, and my relationship with sustainability and systems thinking deepened during this time.”
After returning to New Orleans, James was doing a site visit in Algiers in late 2019 for a proposed residential project when a simple question caused him to start thinking about the lessons he’d learned in New Mexico.
“The question of what future tenants would have to eat opened my eyes to the systemic challenges of food deserts and malnutrition in underserved communities,” he said. “I realized that addressing these issues would require
Johnnie James II launched Pursuit of Happiness Farms in 2020 with the goal of bringing sustainable farming practices to local communities and educating the public about zero-waste agriculture.
innovative and interconnected solutions benefiting both people and the environment.”
At that point, he said he decided to pivot from the real estate project and establish Pursuit of Happiness Farms in March 2020, although he sees as the venture as not a far departure from where he started in business.
“Truth be told, I still see real estate as a huge part of the future of our business. When you begin thinking about the implications of being able to reclaim land on the coast, you are literally creating real estate. At scale I see a unique real estate challenge in small island restoration wherein we could acquire land improve it by growing more of it and increasing the value of the real estate in a variety of ways,” he said.
Originally located in Algiers and now headquartered officially in Baton Rouge at Nexus Louisiana, the company focused on recirculating aquaculture systems and controlled environment agriculture food production methods, with the goal of zero waste agriculture.
“We wanted to produce food without producing waste and assist farmers to transform waste into added value byproducts,” James said.
Since its founding, Pursuit of Happiness Farms was selected as a semifinalist for the Blue Swell incubator from Sea Ahead and won Pitch BR from Nexus Louisiana in 2024. Additionally, the startup has secured partnerships with Additive Innovators, Climate Culture, Glass Half Full, Louisiana Additive Manufacturing Association, Louisiana Chamber of Commerce Foundation, and R C O A S T and is being supported by Idea Village, GNO, Inc, LSU AGGRC, Nexus Louisiana, OHUB and Tulane Innovation Institute.
In April 2024, POH Farms secured the global exclusive rights to a product called Reefbuds©, which he describes as “an innovative, plantbased concrete technology. A single solution that restores coastlines, revitalizes marine ecosystems, and reduces carbon footprints faster than anything else in the water.”
The startup was recently recognized by Opportunity Hub NOLA (OHUB) and its New
Energy Technology Incubator as an outstanding business concept. James was among five founders that were invited to pitch at the organization’s Climate Tech Demo Day last June.
During the event, he noted that Louisiana is expected to spend $50 billion over the next 50 years on coastal restoration and protection, with concrete being a key component on every project. He added that concrete is the thirdlargest emitter of carbon dioxide on earth, is largely inhospitable to marine life, and has a high PH that harms ocean life and degrades in even the most optimal environments.
Reefbuds, he explained, solves all these issues. A carbon negative product, it attracts marine organisms “within days rather than years,” helping to rebuild reefs and barrier islands. The product was created in the Philippines with help from a grant aimed at addressing the marine dead zones that had been created from blast fishing with dynamite.
“The pilot was used in a marine dead zone in
2007 and the area was resurrected within weeks,” he said. The “secret sauce” of the plant-based concrete? “Let’s just call it metallic oxides,” he said, “which rapidly recruits marine life.”
James said Reefbuds has been deployed in locations stretching between Lake Pontchartrain and Pensacola, Florida, and area from where POH Farms is gathering data. Noting research and development partnerships currently including the LSU Ag Center, The Beach at UNO and Tulane Innovation Institute, the company is working to secure suppliers, with the goal being to offer on-demand manufactured material.
“An ideal client for POH Farms is any organization, government agency or private entity seeking sustainable and innovative solutions for coastal restoration, coastal protection and/ or carbon reduction.”
Currently, POH Farms operates as a founder-led initiative supported by a collaborative team.
“While we don’t yet have formal employees,
we’ve been fortunate to have volunteers from the community join us as awareness of our project has grown. Their enthusiasm and contributions reflect the grassroots momentum behind our mission as we work toward scaling our efforts and securing funding to support a formal team.”
For James, the debut of Reefbuds to the local community couldn’t have come at a more important time, as the realities of climate change become more and more apparent.
“We are actively developing partnerships and seeking potential clients, collaborators, and funders for projects. Reefbuds has a long history of Rotary Club-sponsored deployments with thousands of structures deployed in the Philippines,” he said. “POH Farms is seeking similar partnerships with Rotary Clubs and other eco-aware organizations. Our current focus is on building manufacturing capacity and collecting data through projects, which will serve as a foundation for expanding our client base and our solution offerings.”T
For the past 24 years it has been to get to McHardy’s Chicken & Fixin’
BY KEITH TWITCHELL
New Orleans is a town that loves its fried chicken; where else in the world is there an entire festival dedicated to this crunchy, flavorful delicacy?
While fried chicken can be found a bone’s throw from just about anywhere in the city, few purveyors can match the hands-on, family recipe version found at McHardy’s Chicken & Fixin’.
Since opening the restaurant in 2001, the Mogilles family has had to rebuild twice — once after Hurricane Katrina and again after a 2006 fire. The store’s location at 1458 North Broad Street, however, is worth keeping. McHardy’s sits in immediate proximity to four neighborhoods — Treme, Bayou St. John, Seventh Ward and Fairgrounds — as well as in the historic Bayou Road shopping district.
“We get quite a bit of foot traffic here,” noted Alvi Mogilles, co-founder and co-owner, with her husband and son, of McHardy’s. “We get lots of support from the neighborhood, including the new residents moving in,” adding, “We still have a lot of people who don’t mind telling us how far they traveled to get here.”
There’s good reason to cross town — or cross the street — for McHardy’s chicken. The recipe for the batter comes from Mogilles’ mother.
Each piece of chicken is washed before frying. The spices are made in-house (and are now being sold in select local grocery stores). Even the cabbage for the coleslaw is hand-sliced.
In short, preparing the food (shrimp, catfish and other items are also on the menu) is something the seven-person staff does with considerable attention and care.
This approach helps greatly in meeting the two main challenges McHardy’s faces.
“There are so many restaurants,” Mogilles observed. “There are so many people who ‘think’ they can fry chicken, even gas stations and grocery stores. It’s a true test of the product we sell.”
In addition, she noted, “Our economy is not robust. It’s not easy for families. But we are still affordable for families to come in and get as close to a home-cooked meal as possible.”
Mogilles’ educational achievements also contribute significantly to McHardy’s success: she earned her undergraduate degree in nutrition, and has a master’s in public health and an executive MBA from Tulane.
“This was not ever my dream, it was my husband’s dream,” she said, explaining that he
and their son are the real entrepreneurs in the family. She noted, however, that the business has illuminated a side of her.
“Our customers bring out the people person in me,” she said. “I like meeting the people, hearing their stories.”
This personal interaction, the commitment to personal service, may be the underlying reason that McHardy’s has such a loyal customer base. Whether it’s opening at 5 a.m. on Mardi Gras so people can grab their chicken on the way to the parades, ensuring phone orders are ready on time, or being a favorite source of fried turkeys at Thanksgiving and Christmas, the restaurant does its best to cater to its clientele.
In turn, satisfied taste buds serve as McHardy’s main form of marketing.
“We’ve never had a large advertising budget,” noted Mogilles. “The product has always sold itself by word of mouth. That’s what sets us apart, taking pride in our quality and consistency, taking pride in how we keep the restaurant, how we address our customers.
“We know so many of them,” she concluded, “and they know us.” T
EDUCATION
Bachelor of Arts in Economics and Political Science, Tulane University
ADVICE
Remember that every day we get up in the morning is a good day. Enjoy everything that life has to offer.
BY MIKE LIRETTE
ON THE HORIZON
We remain excited about our future growth plans and expansion opportunities in the warehousing, transportation and logistics sector.
HIDDEN GEM
La Crepe Nanou — a great neighborhood restaurant that delivers every time
GO-TO RESTAURANT Clancy’s
Anative of New Orleans, Luetkemeier has spent his entire 35-year career in the maritime, logistics and warehousing business. In April 2024, Luetkemeier took over the helm as president of the Dupuy Group (headquartered in New Orleans) as part of the company’s plans to expand its coffee handling services while diversifying both its commodity and customer base. He was instrumental in helping finalize Dupuy’s acquisition of Eland Logistics (based in Toronto) in December 2024, allowing Dupuy to expand its footprint and market presence into Canada. Luetkemeier has held numerous leadership positions over the course of his career, including serving as president of the New Orleans Board of Trade and chair of the Mississippi Valley Trade and Transport Association. He also received a gubernatorial appointment to serve on the State of Louisiana Pilotage Fee Commission.T
