VILLAGEx ACCELERATOR
FREQUENTLY ASKED QUESTIONS
How do I apply?
In order to be considered for the program, aspiring VILLAGEx founders must complete the online application. Once you have a pitch deck prepared, the application should take approximately an hour to complete.
When do applications close?
The application dates vary from year to year but open each fall. For the VILLAGEx 2024 cohort, the application will be open until Friday, November 10th, 2023, at 11:59 PM CST.
What are the start and end dates for the VILLAGEx Program?
The VILLAGEx program will run from January – May 2024.
Can I start my application, save it, and finish it later?
Yes, the application system does allow for that. However, we recommend recording responses in a separate document just in case. Applications should take approximately an hour to complete once the pitch deck is finalized.
When will I hear back about my application? What’s the timeline from application to selection to program start?
Applications open on the first week of October with final selections made by mid-December. As this is an industry-leading accelerator, applicants should expect an extensive and competitive application process. Space is extremely limited in the program, and interested ventures are encouraged to apply as soon as possible. If you have any questions please contact programs@ideavillage.org. We look forward to hearing about your venture!
Who reviews my application?
Applications are reviewed by members of The Idea Village team and Entrepreneurs-in-Residence (EIRs).
what if I don’t have pitch deck?
Applications without a pitch deck will not be considered. Click here to view the anatomy of the pitch.
Do you sign NDA’s?
We, like most other organizations of our kind, do not sign NDAs. We believe our reputation speaks for itself — we’re not in the business of stealing ideas, and the thousands of companies we’ve helped without any NDAs is proof of that. You are not obliged to disclose every detail of how your business works, but the more we know, the more we can help you.
What kind of companies are you looking for?
We are looking for ventures with highly scalable, technology-enabled business models. The program is designed to help your company scale up quickly and drive positive economic impact in the Gulf South region.
Ideal companies:
+ Incorporate technology that solves a problem or improves a process
+ Are in the midst of or on the verge of rapidly scaling their business
+ Offer a new or unproven business model with the potential to revolutionize a particular industry
+ Serve a new or niche market in an innovative way
+ Plan to raise at least +$1M in the next 24 months.
If you have questions about whether or not your business is eligible, you can contact programs@ideavillage.org.
Do I have to be working on my startup full-time?
No, but it is highly encouraged that you are working towards becoming full time in your company. The purpose of the program is to accelerate the growth of your company. If you are still working another job, part-time or full-time, it can make this acceleration slower. We leverage our networks and our expertise to provide founders with the right resources they need to be successful, and we believe that you must be present to take advantage of these opportunities to succeed.
What stage of company do you work with?
Our program is ideal for businesses that have already raised some capital and are looking to leverage that traction into hitting operational milestones for their future funding rounds. Additionally, our accelerator is focused on catalyzing rapid growth. Upon entering the program, we are looking for companies that have previously achieved a minimum of one of the following:
+ Built an innovative and functional product
+ Developed a strong and fully committed team with demonstrated domain knowledge and well-rounded skills and expertise
+ Demonstrated market traction through sales, users, or capital raised
+ Operating in a rapid growing market
What do you look for in a team?
We look for a few key things:
+ Demonstrated experience and/or knowledge in the domain in which you are working in
+ Relevant skills or expertise growing businesses
+ A willingness to accept criticism and learn from your peers
+ A drive to never stop improving
+ Passion and dedication to building an exceptional future for New Orleans and the surrounding region
What if my company isn’t the right fit or at the appropriate stage, do you have other programs?
Yes! We have several programs to choose from that will help you further refine your idea and prepare your business so that it has the best resources possible for success. We offer an idea-stage program, IDEAinstitute, twice a year in the fall and spring. This program introduces innovative startups and potential startup founders to the tools they need to take an idea and turn it into a viable, scalable business. We also offer a venture accelerator that supports Black, Indigenous, and other People of Color (BIPOC) founders, IDEAfuel, with non-dilutive capital, 1:1 mentorship, exclusive business resources, and more to help their startups succeed and scale.
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What is the cost associated with the program?
Thanks to the support of our donors, we do not currently charge program fees or take equity as a condition of participation for VILLAGEx. The Idea Village supports companies that can create meaningful economic development outcomes for our region and instills a culture of paying it forward that encourages entrepreneurs to become civic leaders. We hope that you will join us in this mission.
Do you invest in participating companies?
We do ask participating companies to sign an accelerator participation agreement that outlines the responsibilities and expectations of participating in the accelerator and includes an ongoing right to information (to measure the impact of our mission) and the opportunity to participate in future investment rounds.
I DON’T LIVE IN NEW ORLEANS, CAN I STILL PARTICIPATE?
Yes! This year’s program will be delivered in a hybrid format that is optimized for in-person participation in New Orleans. While your physical presence or company headquarters in New Orleans is not mandatory, we do require that your startup has strong connections to New Orleans and the Gulf South region.