Note from Editors:
From the wreckage done by Hurricane Katrina, New Orleans has risen as the new hub of #startups, entrepreneurial activities and #angel investments. The NO/LA Angel Network was also established in 2014, with more than 100 members already. It would be the site of Angel Insights Exchange conference being organized by Angel Capital Association in November this year.
by Marianne Hudson
Despite the devastation Hurricane Katrina caused 10 years ago, the huge disaster that hit New Orleans brought a silver lining. With a giant microscope on the area, young people were drawn to New Orleans and the surrounding region to help.
In the years immediately following Katrina, young people turned out in droves. They came to volunteer, to rebuild and to educate children, but then something interesting happened. Many liked the area and stayed. Their friends came too. Over time all these new NO/LA (New Orleans/ Louisiana) residents perpetuated an explosion of entrepreneurial activity—something the area desperately needed.
“The availability of organized early stage capital in New Orleans pre-Katrina was very limited,” he said. “As a result, promising entrepreneurial ideas were not getting funded or entrepreneurs had to leave the area to obtain the funding they needed.”
New Orleans now sports a thriving ecosystem of startups and innovation. Ideas and entrepreneurs come out of universities in the New Orleans-Baton Rouge corridor and a growing set of incubators, accelerators, and other programs are there to support them.
Among this new growth is the NO/LA Angel Network (NO/LAAN).Mike Eckert is the founder/chairman of NO/LAAN and an Angel Capital Association (ACA) Board member. “The availability of organized early stage capital in New Orleans pre-Katrina was very limited,” he said. “As a result, promising entrepreneurial ideas were not getting funded or entrepreneurs had to leave the area to obtain the funding they needed.” Thankfully, things have changed.
Read the full article:
Note: Featured Image credit to pixabay.com