$200,000 National Competition To Retain Young Talent In New Orleans

Contact:
Lauren Baum, The Idea Village
lbaum@ideavillage.org
office: 504.304.3291/cell: 212.920.1981

 

For Immediate Release
(New Orleans) September 26, 2008 – Last night, in true New Orleans style, some 504 New Orleanians attended the historic launch of 504ward, an initiative designed to retain the influx of young movers and shakers who are arriving by the hundreds with dual aspirations of sparking social change and advancing their careers in the inspiring laboratory of post-Katrina New Orleans. The Idea Village announced the launch of 504ward with a memorable celebration at Tipitina’s, a legendary New Orleans institution that has become a symbol of New Orleans’ music and cultural history.

504ward, a play on the city’s area code, acts as a resource umbrella and a bridge that connects young professionals to one another and to the established leaders in the New Orleans region. Last night, New Orleanians of all generations celebrated together the opportunity for a bright, vibrant future with famed New Orleans musicians, including icons such as Big Sam’s Funky Nation and Charmaine Neville.

Leslie Jacobs, a business leader and venture philanthropist in New Orleans, spearheaded and funded 504ward.  According to Jacobs, “New Orleans is experiencing a historic opportunity as the city is attracting droves of educated young people, poised to advance their careers and contribute to the rejuvenation of New Orleans. For decades, our community has suffered from a ‘brain drain’ as recent college graduates left in pursuit of opportunities elsewhere.  A silver lining to Hurricane Katrina has been the influx of college-educated, mission-driven ‘brain gainers.’  Our community must join together to retain this high-demand demographic.” 

In order to fully engage this new community of young leaders, Jacobs facilitated a collaboration of New Orleans business and civic organizations that have united to serve the target demographic.  Included in this collaboration are: Chamber of Commerce, Desire NOLA, Greater New Orleans, Inc., First Fridays, Hands On New Orleans, Horizon Initiative, Human Resources Management Association, Humid Beings, Jewish Federation of Greater New Orleans, Make New Orleans Home, NOLA YURP, Social Entrepreneurs of New Orleans, Teach for America, The Idea Village, The New Orleans Business Council, and Young Leadership Council. 

Together, they developed a vision for “504ward: New Orleans Calling,” a diverse community of talented young professionals who have the passion and drive to create positive change in New Orleans.  The Idea Village is executing this shared vision. 

Additional components include the 504connect program which connects young professionals to one another and to experienced New Orleanians, as well as a website, 504ward.com, that serves as a hub of relevant social, civic and professional opportunities for the target demographic. 

Tim Williamson, President and Co-Founder of The Idea Village, remarks, “New Orleans is a center of innovation, attracting the best and the brightest from around the world to contribute to the reinvention of a great American city.  Retaining this talent is central to developing a vibrant entrepreneurial community and programs and partnerships, such as 504ward, are critical to our success.” 

The launch of this initiative is timed with the announcement of a $100,000 business competition designed to support entrepreneurs with business ideas that will effectively retain the 23 – 35 year old demographic in New Orleans. 

The current value of the prize package has well exceeded $200,000.  Through generous funding from Jacobs, The Idea Village is seeding the national competition with $100,000.  More than $100,000 value of professional services and resources has also been donated by the local community.  643 Magazine, LLC, Adams and Reese, Fabre Smith and Coco, Gambit Weekly, Human Resources Management Association of Greater New Orleans, Jones Walker, Lifestyle Revolution Group, Louisiana Technology Park, Netcom Group, New Orleans Magazine,  and Trumpet have contributed office space, legal, marketing, website optimization, web development, advertising, staffing, networking facilities and data center storage services. Other advocates of innovation and entrepreneurship are also invited to lend their support through cash and in-kind donations.

Ventures must demonstrate impact of product or services on the target demographic and applicants must exhibit a proven track record of success.  A single winner will be selected out of five nationwide finalists who are flown to New Orleans in March 2009. Three different committees will evaluate the applicants, and the selection process will culminate in public presentations to an audience of 23-35 year olds in New Orleans.  Ventures in the finalist round who operate or intend to operate in the New Orleans region will also be eligible for professional support.

A team of Google employees has joined forces with The Idea Village to help launch the competition.  In early September, 30 dedicated Googlers shared their time, innovative spirit and Google know-how to develop the execution and promotion strategy.  Maureen Marquess and David Spector, both of Google, attended the momentous launch of 504ward. Together, these Google employees will help promote the competition and serve on an advisory panel that selects the winning entrepreneurs. 

Louisiana’s Lieutenant Governor, Mitch Landrieu adds, “Our next generation of national leaders is developing in the New Orleans region.  I am increasingly inspired by their passion and their drive.  It is this energy and unwavering commitment to a cause far greater than themselves that will pay dividends to the New Orleans region, and to our nation, for decades to come.”

The speakers were surrounded by hundreds of “504s,” captivated by the leadership and motivated by the unique opportunities to re-write history in the inspiring laboratory that has come to characterize New Orleans.  "I came to New Orleans as a teacher with Teach for America," describes Andrea Chen, a 26 year-old California native who co-leads Social Entrepreneurs of New Orleans (SENO) and is participating in the 504connect program. "After the storm, many of my peers and I recommitted ourselves to New Orleans because we saw the need and the opportunity to be part of a historic movement.  504ward has already helped me develop roots and relationships across generations."

The $200,000 valued business contest, as well as 504ward’s other programs and offerings, is live today and interested applicants are encouraged to visit 504ward.com for additional information, to apply or to offer resources to the winning entrepreneur. 

ABOUT THE IDEA VILLAGE AND 504WARD
The Idea Village mission is to accelerate the growth of the entrepreneurial community in the New Orleans region by advocating for a culture of innovation and providing strategy, talent and resources to high impact ventures. 
The Idea Village is a 501(c)(3) economic development organization founded in 2002 by local entrepreneurs who believe that innovation is the catalyst to creating social and economic change.  As a primary driver of innovation and entrepreneurship, The Idea Village has supported over 240 New Orleans entrepreneurs through a global network that is committed to accelerating the growth of the local entrepreneurial community.  www.ideavillage.org

504ward, an initiative of The Idea Village developed in collaboration with a broad spectrum of New Orleans business and civic organizations, is designed to retain the influx of young movers and shakers who are arriving in New Orleans with dual aspirations of sparking social change and advancing their careers.  For decades, New Orleans suffered from a “brain drain” as recent college graduates left the city in pursuit of opportunities elsewhere.  Post-Katrina, New Orleans has enjoyed an influx of young talent — individuals bold enough to take a chance and smart enough to see a unique opportunity in reinventing a great American city.  504ward seeks to retain this group by addressing the issues pertinent to the 23-35 year-old dynamic: career prospects, social engagement, and opportunity for community impact.  www.504ward.com

The Idea Village thanks the following generous sponsors of the 504ward launch party: Tipitina’s Foundation, Republic National, Old New Orleans Rum, Queen of the Ball and Hubig’s Pies.