Time is running out to apply for the Idea Village’s VILLAGEx startup accelerator program geared towards Gulf South region companies seeking to raise at least $1 million in capital within the next 24 months. Applications will be accepted through November 1 at: https://www.ideavillage.org/villagex. “VILLAGEx is a highly competitive program, designed to accelerate the growth of startups in ways that will impact not just the companies themselves, but the entire Gulf South region,” said Andrew Albert, programs director for The Idea Village. “If you’re a company addressing unique challenges and find yourself at an inflection moment of growth, we encourage you to apply.” VILLAGEx is a four-month program that runs from January through May. Ten selected startups will be connected with the mentorship, support, and resources needed to scale their businesses rapidly. Upon completion of the program, alumni companies will be eligible for a $100,000 investment opportunity via the Momentum Fund, provided they meet fund criteria. The Momentum Fund is a private $6.7 million fund established by The Idea Village to specifically invest in VILLAGEx companies, structure founder-friendly patient capital for the region, and provide long-term sustainability for the nonprofit business accelerator. One of the Momentum Fund requirements includes that VILLAGEx graduate startups must be able to raise two times the amount allocated by the Momentum Fund. The average investment by the Momentum Fund is approximately $100,000. “The Momentum Fund exists to fund the breakout companies that complete The Idea Village’s marquee VILLAGEx accelerator,” said Jon Atkinson, CEO of The Idea Village. “The fund, supported by private limited partners and the new state SSBCI program, extends the organization’s reach while deepening its impact on companies served. It will allow The Idea Village as a 501c3 nonprofit to support VILLAGEx companies over the long term and, ultimately, participate in their successes.” VILLAGEx alumni companies include the likes of Glass Half Full and WRSTBND. Glass Half Full – a 2023 VILLAGEx alum and Momentum Fund recipient – is constructing a three-acre recycling plant in Chalmette, on the shores of Bayou Bienvenue. WRSTBND, an event-tech startup and VILLAGEx 2022 alum, recently made headlines after AXS, a global leader in ticketing, acquired a majority stake in the company. The Idea Village, a nonprofit, champions innovation and entrepreneurship in New Orleans and throughout the Gulf South. Since its founding in 2000, The Idea Village has supported over 18,000 entrepreneurs with mentorship, coaching, and access to capital. Alumni companies have generated more than $2 billion in regional economic impact.