NEW ORLEANS — InvestNOLA, New Orleans Business Alliance’s (NOLABA) high growth accelerator for $1M+ BIPOC-owned businesses is part of the national Ascend program network, sponsored by JPMorgan Chase. The current construction-focused cohort started last fall and will wrap up at the end of April, subsequent to presenting their strategic growth plans to an esteemed panel of experts.
The cohort has received high-level instruction, including business acquisition, forming joint ventures, building business credit, federal government contracting, a discussion with commercial loan underwriters and a comprehensive on-site tour at one of the largest construction firms in the city. After several group sessions, each business has access to business coaches, assisting them with identifying the most plausible growth opportunities and methodologies for solving problem areas in their businesses.
According to Brian Foy, Jr. of FDS Nola, “the information my team has received from the InvestNOLA coaches has been invaluable; it has transformed the efficiency in my company’s operations. We’ve learned how to identify where problems originate, which helps us to determine quick and appropriate solutions.”
Businesses in the InvestNOLA program are connected to advanced management education, procurement contracts, and capital. The program works with multiple universities and industry experts, public and private-sector corporations, and a growth capital consortium consisting of three financial institutions.
BIPOC owners of high-growth potential businesses with $1M in annual revenue are encouraged to apply for participation in the program.
###