Pritchard Capital Partners and The Idea Village Team Up to Provide Relief Grants
FOR IMMEDIATE RELEASE
October 26, 2005
(New Orleans) – Today Pritchard Capital Partners Gulf Coast Renewal and Economic Assistance Foundation announced a contribution to a special fund called the IV Business Relief Fund that will provide relief grants for New Orleans area businesses impacted by Hurricane Katrina. The grants will be used to help qualified companies rebuild their businesses in the wake of the storm.
The IV Business Relief Fund will be administered by The Idea Village, a New Orleans-based 501 (c)(3) non-profit which seeks to accelerate the development of high-growth entrepreneurial ventures based in New Orleans. “Now more than ever, entrepreneurial ventures are critical to Louisiana’s economic recovery, and they need financial help to get back on their feet,” said Thomas Pritchard, managing director of Pritchard Capital Partners. “Together with The Idea Village we are going to assist those companies through these challenging times so that the viable models can continue their growth in Louisiana. Together we can be a catalyst to revitalizing and retaining quality companies in the metro region..” To jump-start the effort, the Pritchard Capital Partners foundation has committed $50,000 to the fund with ten $5000 grants to be allocated among qualified businesses.
Business owners who can establish that they had a minimum of $100,000 in gross revenue and five or more employees and were located in the 10-parish New Orleans region for at least three years prior to August 29th will be eligible for the grants from Pritchard Capital Partners Gulf Coast Renewal and Economic Assistance Foundation. To apply for the grants, businesses must go to www.ideavillage.org and fill out the form under Katrina Update.
“This relief money could mean survival for companies we can’t afford to lose,” said Tim Williamson, president of The Idea Village. “This is a great example of entrepreneurial spirit in the private sector to help solve the cash crisis affecting so many of our region’s businesses.”
About Pritchard Capital Partners:
Pritchard Capital Partners is a Mandeville-based energy research and capital markets firm, with regional offices in Atlanta, New York and Washington, D.C. The firm provides equity research, sales and trading for institutional clients worldwide.
About The Idea Village:
The Idea Village is a 501 (c)(3) non-profit corporation whose mission is to encourage a culture of innovation and to provide the focused tools and resources necessary to accelerate the development of high-growth entrepreneurial ventures based in New Orleans. The Idea Village assists high-growth businesses by providing in-depth business consultation, including setting operational goals, advising and consulting on strategic business matters, connecting entrepreneurs to business mentors, and by facilitating access to professional services and capital resources.
Since its formal inception in 2002, The Idea Village has become the primary driver for entrepreneurship in New Orleans, supported by more than 300 individuals, corporations, local foundations, Tulane University, University of New Orleans, Greater New Orleans, Inc., the City of New Orleans, and the State of Louisiana.
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