Since 2011, Propeller has incubated and accelerated 263 ventures through the Impact Accelerator and Social Venture Fund. Collectively, they have generated over $292 million in external financing and revenue and created 485+ full- and part-time jobs. Our businesses and nonprofits overall have an 84 percent survival rate, compared to the national average of 56 percent.
As a result of our work with ventures in the education focus area, Propeller has influenced the following outcomes:
An increase of $25mm (2015) to $43mm (2019) in Medicaid dollars flowing to schools to pay for social workers and school psychologists
Shifting the healthy school food RFP criteria and serving healthy school meals to 22,000+ public school children annually
15 charter school boards engaging in policy changes to further racial equity and inclusion at the board level
300+ schools streamlined professional support for teachers through a K-12 classroom observation and coaching platform
8,047 individuals and students using a career technical education matching portal resulting in 867 connections
Education Focus Area
Propeller works to narrow New Orleans’ achievement gap by addressing the factors that emerge to impact success throughout a young person’s educational career. Starting in early childcare, Propeller small businesses and nonprofits are supporting parents and caretakers and helping education providers streamline their administration and maximize funding. From K-12, entrepreneurs are working at the systems level to ensure student success, from improving student health with vision and hearing screenings, increasing Medicaid funding for behavioral health, and increasing the quality of healthy school lunches to partnering with RTA to ensure students have easy affordable transportation between school, home, and after-school enrichment programs. Propeller ventures also work with young adults who have left or completed high school to create pathways to postsecondary education and fulfilling careers.
Propeller’s Education Accelerator focuses on supporting entrepreneurs bringing equitable, culturally relevant practices and policies to local education systems and skill development opportunities. Propeller prioritizes solutions that specifically address the following issues in the education focus area:
Access to quality early childhood education
Development of equitable, culturally relevant practices, policies, and approaches in education systems across New Orleans
Expanded pathways to vocational education and job skill development for New Orleanians
To date, Propeller has accelerated 55+ education-focused ventures by providing access to contacts, contracts, community, capital, mentors, and subject matter experts (financial modeling, graphic design, customer pipeline, marketing, fundraising, etc.). This support has resulted in notable success for these entrepreneurs. Below are some of our notable Alumni.