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Neighborhood Start Fund was founded in 2015 by Di-Ann Eisnor and Lupe Fiasco to support the development of startups and entrepreneurs from underserved areas. The organization emerged in response to concerns about inequality and the lack of diversity in the innovation economy. Its pilot program launched in Brownsville, Brooklyn in October 2015, and by 2016, the fund had expanded to establish operations in nine neighborhoods.
The fund focuses on community ownership and empowerment, aiming to keep investment and economic growth within specific neighborhoods. As a non-profit micro-grant program, it provides small grants and resources to help local entrepreneurs thrive. The organization has a clear mission to foster local entrepreneurship and economic development.
Neighborhood Start Fund invests in entrepreneurs and startups from underserved communities, primarily in North America. The organization emphasizes community ownership and empowerment, providing access to funding, networks, workshops, mentoring, and resources. It focuses on pre-seed and seed stage investments, particularly in the consumer, commerce, and healthcare sectors.
The typical check size for winners of their business pitch competitions is $5,000, which is supplemented by in-kind services. The fund seeks to empower diverse entrepreneurs by fostering local economic growth and ensuring that investments benefit the communities they serve. The organization looks for founders who demonstrate a commitment to their neighborhoods and have innovative ideas that can drive local development.
Neighborhood Start Fund has supported various entrepreneurs through business pitch competitions, providing funding and resources to help realize their business ideas. Notable winners include:
Each of these winners received $5,000 in funding along with in-kind services to support their ventures. The fund's approach emphasizes not only financial assistance but also the importance of mentorship and community engagement in fostering successful businesses.
Di-Ann Eisnor: Co-Founder and Director. Di-Ann has a background in technology, having previously worked at Waze and Google. She brings extensive experience in product development and community engagement.
Lupe Fiasco: Co-Founder. Lupe is a Grammy-winning rapper and entrepreneur, known for his commitment to social issues and community development. His influence helps drive the fund's mission to empower underserved communities.
Pernell Brice III: Executive Director. Pernell has experience with the Dream Big Foundation and plays a key role in managing the fund's operations and outreach efforts.
To pitch to Neighborhood Start Fund, entrepreneurs should participate in their business pitch competitions. It's important to clearly articulate how the business idea serves the community and aligns with the fund's mission of empowerment and local economic development.
Neighborhood Start Fund runs a program designed to support entrepreneurs from underserved neighborhoods. The program includes business pitch competitions where winners receive $5,000 in funding along with in-kind services to help develop their business ideas.
Eligibility for the program typically includes being a resident or having a strong connection to the targeted neighborhoods. Interested applicants can apply through the fund's website.
In March 2016, Neighborhood Start Fund announced three winners of its business pitch competition in Brooklyn, each receiving $5,000 in funding and digital development assistance. This marked a significant milestone in the fund's efforts to support local entrepreneurs.
Following its initial success, the fund expanded its reach to Miami, targeting neighborhoods such as Overtown, Wynwood, and Allapattah, with applications closing in September 2016. This expansion reflects the fund's commitment to fostering entrepreneurship in diverse communities.
What are the investment criteria for Neighborhood Start Fund?
Neighborhood Start Fund invests in entrepreneurs and startups from underserved communities, focusing on pre-seed and seed stage ventures. The fund looks for innovative ideas that can drive local economic growth and benefit the community.
How can I apply or pitch to Neighborhood Start Fund?
Interested entrepreneurs can apply through the Neighborhood Start Fund website at neighborhoodstart.fund. The application process typically involves submitting a business pitch that outlines the idea and its potential impact on the community.
What makes Neighborhood Start Fund different from traditional venture capital firms?
Neighborhood Start Fund operates as a non-profit micro-grant program rather than a traditional venture capital firm. It provides small grants and additional resources to support local entrepreneurs, emphasizing community empowerment and ownership.
What is the geographic scope of Neighborhood Start Fund?
The fund primarily focuses on North America, targeting underserved neighborhoods to foster local entrepreneurship and economic development.
What kind of support do portfolio companies receive?
In addition to financial support, portfolio companies benefit from access to mentorship, workshops, and a network of resources aimed at fostering local entrepreneurship and community development.
What is the typical check size for funding?
The typical check size for winners of the business pitch competitions is $5,000, which is supplemented by in-kind services to help entrepreneurs realize their business ideas.
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