Propeller Impact Accelerator in Louisiana

Propeller’s Impact Accelerator is a 5-month program designed to support mission-driven entrepreneurs in growing their businesses through coaching, community building, curriculum, and technical assistance. The program aims to catalyze transformational growth by connecting entrepreneurs with contract opportunities, markets, and customers. It is sponsored by the Clif Family Foundation, Capital One, Nasdaq, RosaMary Foundation, WK Kellogg Foundation, and Baptist Community Ministries, aligning with their missions to foster economic development, education, and community well-being by empowering local businesses. The Impact Accelerator targets growth-stage entrepreneurs in five key areas: community economic development, education, food, health, and water. Specifically, it supports BIPOC entrepreneurs operating brick-and-mortar establishments in underserved New Orleans corridors for economic development; early childhood education and care providers for education; CPG brands emphasizing sustainable, healthy, and affordable products for food; direct health and wellness service providers, especially those serving BIPOC clients, for health; and entrepreneurs in green infrastructure, stormwater management, native plant cultivation, and coastal restoration for water. The program's overarching impact goal is to facilitate the scaling of revenues and teams, while also embedding racial equity, social, and environmental impact goals into business operations. The program's priorities and focuses are clearly delineated within each sector. For community economic development, the focus is on Black-owned brick-and-mortar storefronts in specific New Orleans neighborhoods, aiming for job creation and community ties. In education, the priority is on increasing enrollment, growing staff, and expanding business locations for early childhood education providers. For food, the emphasis is on CPG brands that are environmentally sound, locally sourced, healthy, or have compelling social/environmental impacts, with a prioritization of BIPOC-led companies. Health focuses on direct clinical care and services impacting social and physical determinants of health, especially for BIPOC client bases, striving for increased accessibility and staff growth. The water sector prioritizes green infrastructure, urban stormwater management, native plants, and coastal restoration, seeking to increase the supply of native plants for green infrastructure. Expected outcomes and measurable results include participants setting ambitious yet achievable goals for growth and long-term sustainability, an increase in business revenues and staff, and the successful attainment of social/environmental impact goals. Entrepreneurs receive over 16 hours of lead mentor office hours for goal setting, 12+ hours of business development curriculum during meetups, and 20+ hours with subject matter experts for project assistance. Additional benefits include a detailed work plan, coaching on racial equity and impact goals, introductions to stakeholders, free coworking space, and membership in a network of over 250 alumni. These structured interventions are designed to remove growth barriers and accelerate the development of entrepreneurial ventures, leading to tangible economic and social improvements within the targeted communities and sectors.