Hello From The Idea Village





Dear Friends of The Idea Village, As we focus on entrepreneurial initiatives that drive economic impact, we are encouraged that our community is being recognized as a laboratory of innovation. A recent Kauffman Foundation report highlights Louisiana as the 4th state in America for entrepreneurship. This month, we will launch a targeted “Green Industry Initiative,” as well as engage our global network in economic development through partnerships with Worldwide Marketing and Human Resources Management Association. These initiatives enhance our core business support that includes financial modeling, marketing and business consulting. The Idea Village continues to drive the conversation of innovation through talent and collaboration. In April, we were asked to participate in a meeting with President Bush and local leaders to highlight talent as a critical component of economic transformation. This summer, The Idea Village is also speaking at two national forums on business innovation and entrepreneurship. In June, The Idea Village will be featured in a book about entrepreneurship, “Tactics of Hope.” We will update you on the book signing and make sure you add it to your summer reading list! In this newsletter, please find updates regarding our four primary initiatives: VILLAGE VENTURES: Portfolio update, Search Engine Optimization program IDEAcorps™: Partnership with MIT leads to grant for green initiative; Tulane IDEAcorps™ class VANGUARD TALENT: Presidential luncheon; Worldwide partners marketing program INNOVATIVE SPACES: Recent media on The Idea Village’s new tenant for IV @ N. Galvez NEWS AND EVENTS FROM THE IDEA VILLAGE: Heaven’s Pets hosts event, ACG awards dinner As always, we thank you for your support as we pursue our crazy ideas… The Idea Village Team www.ideavillage.org --------------------------------------------------------------------------------------------------------------------------------- VILLAGE VENTURES: Portfolio update, Search Engine Optimization program Portfolio Update: Since January 2008, The Idea Village has: Provided direct assistance to 71 entrepreneurial ventures. Engaged 68 students in direct entrepreneurial development. Participating universities include: Tulane, Stanford University Business School, Harvard Business School, MIT, and University of Pennsylvania. Selected an entrepreneur to occupy the retail space in our pilot Business Innovation Center in the Upper Ninth Ward. Engaged a global network to drive innovation in New Orleans. Partner organizations include Human Resource Management Association and Worldwide Marketing Partners. The Idea Village portfolio of 228 entrepreneurs currently generates over 1200 jobs and $104 million in revenue for our community. *The Idea Village launches Search Engine Optimization program with Fabre Smith & Coco* The Idea Village has partnered with Fabre Smith & Coco to provide online and search engine optimization for five local entrepreneurs. With the internet becoming an increasingly critical sales channel, this initiative will facilitate revenue and sales growth for our entrepreneurs. If you are interested in applying for this program, please email innovation@ideavillage.org. --------------------------------------------------------------------------------------------------------------------------------- IDEAcorps™: Partnership with MIT leads to grant for green initiative; Tulane IDEAcorps™ class Through a strategic partnership with MIT Sloan School of Management, The Idea Village surveyed the landscape of the green industry and developed a business model for the N.O. Eco Design and Industry Park (EcoPark). Leveraging these efforts, The Idea Village’s own Kim Powe secured a $400,000 contribution from the Louisiana Disaster Recovery Foundation and the Blue Moon Fund to support EcoPark and green entrepreneurs in New Orleans. Through this two-year initiative, we aim to build a vibrant green industry. For additional information about the MIT IDEAcorps™ team, please read these recent media highlights: - MBA Students Help New Orleans Entrepreneurs Become Greener - Students Build Business Plan MIT presents findings to advisory panel of key business leaders. The Idea Village is hiring. If you are interested in working with us on the Green Initiative please e-mail innovation@ideavillage.org.Tulane IDEAcorps™ class After an intensive semester focused on innovation and entrepreneurship, Professor Forst’s Tulane Freeman School of Business IDEAcorps™ Consulting Class shared their work and recommendations with four entrepreneurial clients: • Cook Me Something Mister • NewCo New Orleans • Frank Relle Photography • Old New Orleans Rum Special thanks to our advisory panel, including Quentin Dastugue, Sherif Ebrahim and Darryl D’Aquin, for their strategic guidance and continued support. --------------------------------------------------------------------------------------------------------------------------------- VANGUARD TALENT: Presidential luncheon; Worldwide partners marketing program Vanguards meets with our nation and state leaders Our nation’s leaders have taken notice of the enterprising talent settling in New Orleans. In town to discuss trade relations with Canada and Mexico, the President hosted a luncheon with local leaders, including Governor Jindal, Mayor Nagin, Gulf Coast Recovery Director, General O’Dell, and The Idea Village’s Lauren Baum. Visit our news section to read the recent press release and the transcript from the roundtable with First Ladies, Mrs. Bush and Mrs. Jindal. Vanguards meet with Mrs. Bush and Mrs. Jindal. The Idea Village teams with Worldwide Partners to initiate marketing program On May 21st, The Idea Village teams with Worldwide Partner agencies, to support New Orleans entrepreneurs as they refine their messages targeted to customers, key-constituents and/or investors. The Idea Village has selected four local entrepreneurs to partner with the worldwide marketing efforts as they prepare a presentation that captures the vision, target market, key message and opportunity of the business. For additional information, please visit www.worldwidepartners.com. -------------------------------------------------------------------------------------------------------------------------------- INNOVATIVE SPACES: Recent media highlights on The Idea Village’s new tenant for IV @ N. Galvez Phillina Carradine, winner of the IV @ N. Galvez Business Innovation Contest, is preparing for her new life as a salon owner. Please join us in congratulating Phillina on her new venture, Reflections of Beauty. Idea Village Plans Business Center- The Times-Picayune- March 28, 2008 "When (Habitat for Humanity was) launching the idea of the Musicians Village, the discussion included the question: 'How do you bring businesses back to the neighborhood?'" said Tim Williamson, co-founder of the Idea Village, a business incubator. "We thought if we could become a catalyst for driving business in tandem with the housing recovery that would be a great opportunity. " Hairdresser finds new roots in Ninth Ward- New Orleans CityBusiness- April 21, 2008 “(Ms. Carradine is) an entrepreneur who can create social and economic change in the area,” said Miji Park, who organized the North Galvez Business Innovation Center effort as director of innovative spaces for Idea Village. “She’s going to be a role model for other entrepreneurs who want to start a business in the area.” Stanford GSB students pose with Dr. Norman Francis after awarding Phillina the IV@N. Galvez retail space. --------------------------------------------------------------------------------------------------------------------------------- News and Events From The Idea Village: *Heaven’s Pets hosts event* *Heaven’s Pets hosts event celebrating National Pet Week* With National Pet Week on the horizon, our client, Heaven’s Pets, is hosting a celebratory event on Saturday, May 10th, from 10am to 2pm. Expect food and fun, with pets available for adoption, tips for training your dog, and a demonstration featuring the Jefferson Parish Police Department canine bomb-sniffing division. For additional information about this great event, please call 504.482.7387. *Have a recent business innovation that you would like to share with The Idea Village Network? Please send the information to* *innovation@ideavillage.org* *and we will consider highlighting it in our monthly newsletter.* The White House The President participates in a Lunch with Community Leaders The President will participate in a Lunch with Community Leaders in New Orleans, Louisiana. During the lunch, the President will receive an update on the rebuilding progress in the Gulf Coast region. CityBusiness Hairdresser finds new roots in Ninth Ward- New Orleans “(Ms. Carradine is) an entrepreneur who can create social and economic change in the area,” said Miji Park, who organized the North Galvez Business Innovation Center effort as director of innovative spaces for Idea Village. “She’s going to be a role model for other entrepreneurs who want to start a business in the area.” The Idea Village The Idea Village Announces Inaugural Tenant and Launch of “Pay It Forward Fund” for The Idea Village @ N. Galvez Through an innovative partnership between The Idea Village and the Stanford Graduate School of Business, fourteen MBA students from around the world spent an intensive week developing sustainable business models for four entrepreneurial candidates selected as finalists for the space. The Times Picayune Website Promotes N.O. for Startups "I think it's just showing that the movement is starting to build and grow. Building a vibrant entrepreneurial network is key," said Williamson, "You're starting to see high-growth entrepreneurs moving to the city." News @ MIT Sloan MBA Students Help New Orleans Entrepreneurs Become Greener “’The entrepreneurs were very excited to have all of us there. They gave a critical eye to what we suggested and the ideas we presented to them. But in the end they were very happy for the help. We spent a lot of time working on this project and I think it showed,’ said Gary Schmirer, a trek member.” The Times Picayune Idea Village Plans Business Center "’This is a model. The ultimate goal would be creating a network of this around the city,’ Williamson said. ‘Once we validate how it creates true economic impact, we can really create innovation centers around the city.’" The Times Picayune Students Build Business Plan “’The students took the mantle of professional consultants, providing the sort of research, advice and guidance that could cost thousands of dollars in the real world -- an amount out of reach for many start-ups, particularly those in post-Katrina New Orleans,’ Williamson said.” CityBusiness Idea Village, Chris Paul Energize N.O. Observers Connecting the entrepreneurs and "new level of talent" that have come to New Orleans to aid in the rebuilding with those already in New Orleans and keeping them here, engaging them, is key, said Tim Williamson, president and co-founder of The Idea Village, a nonprofit economic development group. MIT Sloan School of Management MIT Sloan Students to Help the N.O. Recovery with “Green” Projects “New Orleans has become ‘a focal point for sustainability and green development,’ noted Sloan student and SLST member Phillip Stephenson. The city, due to the devastation, is now a blank slate and ‘a palate like the world has never seen.’” Associated Press Monster.com Founder: Execution Key in Digital Economy Connecting the entrepreneurs and "new level of talent" that have come to New Orleans to aid in the rebuilding with those already in New Orleans and keeping them here, engaging them, is key, said Tim Williamson, president and co-founder of The Idea Village, a nonprofit economic development group. Delta Sky Magazine Life in the New Normal “Right after the storm, everyone was an entrepreneur again,” Williamson says. “Whether you had been in business for 100 years, 50 years or six months, you were back to starting over.” The Times Picayune R-E-S-P-E-C-T... that sandwich Sunday's first annual New Orleans Po-Boy Preservation Festival on Oak Street has all the earmarks of a great southern Louisiana festival: the promise of great food, great bands and a bit of local history. CityBusiness Innovator of the Year The Idea Village was a finalist for two 2007 CityBusiness Innovator of the Year Awards: • Business Innovation Center • IDEAcorps Program Business Week Online New Orleans: A Startup Laboratory Entrepreneurs are finding fertile ground for new ventures they think will help bring the devastated city back to life CNN.com New Orleans' new arrivals: Young, educated and infused with hope Regardless of their hometowns, their professions, their reasons for moving, they are bound by a common thread: a pull to this city that so many left behind. Times Picayune N.O.'s needs draw fresh, new thinkers Out of potholes, they see possibilities Forbes.com New Orleans Ninth Ward Business Innovation Center Groundbreaking A vital center that provides access to retail space, technology, technical assistance, financial education and other essential resources necessary to infuse small business innovation and resources in the Upper 9th Ward area.