2024 Diversity In Entrepreneurship Initiative Now Accepting Applications

BATON ROUGE, La. – Applications are now open for the 2024 Diversity in Entrepreneurship Initiative, a Louisiana Economic Development program targeting accelerated business growth for minority- and women-owned second-stage companies.

In partnership with the Michigan-based Edward Lowe Foundation, the initiative aims to empower minority- and women-owned businesses by providing them with valuable resources to expand their businesses and support as they face common hurdles such as feeling overwhelmed, building out a team, growing too fast and focusing on new targeted opportunities.

“At LED, we believe that minority and women-owned businesses are vital to the economic and cultural fabric of Louisiana, bringing unique perspectives, fostering innovation, and driving growth,” LED Chief Innovation Officer Josh Fleig said. “Innovating at the speed of entrepreneurs, collaborating with key partners, and tailoring resources when necessary is a recipe for success.”

Second-stage Louisiana companies with 5 to 99 employees and annual revenue of $600,000 to $50 million are eligible for consideration.

The program will consist of an intensive, three day virtual retreat, three monthly roundtables and a customized strategic research engagement for participants via Zoom.

Following the virtual retreat, each company will have the opportunity to participate in LED’s strategic research program, the System for Integrated Growth®, which provides access to expert specialists who generate customized information aligned with specific company needs.

“As entrepreneurs enter the second stage, they face a myriad of new challenges – something our founder Ed Lowe often referred to as ‘brick walls,’” Edward Lowe Foundation Chairman and President Dan Wyant said. “This is especially true for minority and women business owners. Yet by combining peer learning, strategic research and leadership training into one holistic program, this initiative enables participants to identify what’s holding them back, which challenges they can overcome and then get the information they need to knock down those brick walls.”

Since its inception in 2021, more than 35 minority- and women-owned Louisiana businesses have successfully graduated from the Diversity in Entrepreneurship Initiative. These firms represent each of the state’s eight economic regions and span a spectrum of industries, including manufacturing, marketing, health care and construction.

“The Diversity in Entrepreneurship program has had a positive impact on both the growth of our small business and my personal development as a business leader,” 2023 program participant Maria Alfaro of Alfaro Bros Concrete Construction said. “The opportunity to openly discuss and share experiences with peers was invaluable, especially because it provided a sense of community for business owners who often feel isolated. I am grateful for this experience and encourage other business owners to participate.”

Applications will be accepted through Sept. 30 on LED’s website.

For more information, contact LED Small Business Program Manager Johnna Johnson at Johnna.Johnson@la.gov or 225.342.4492.

About The Edward Lowe Foundation
The Edward Lowe Foundation was established in 1985 by Ed and Darlene Lowe to leverage entrepreneurship as a strategy for economic growth and community development. The foundation’s entrepreneurship initiatives focus on second-stage companies, which are growth-oriented firms that have moved beyond startup but have not yet reached maturity. Its peer learning, leadership education, and strategic information programs are geared to help these companies continue growing. For more information, visit EdwardLowe.org.

About LED
Louisiana Economic Development is responsible for driving capital investment, job creation and economic opportunity for the people of Louisiana and employers of all sizes. Explore how LED is positioning Louisiana to win at OpportunityLouisiana.com.