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Posted under: News celebrity

Why Lupe Fiasco is pumping funds into neighborhoods with fresh startup ideas

Lupe Fiasco's Neighborhood Start Fund brings fresh opportunities for budding entrepreneurs. The organization co-founded by the Chicago native rapper and Google executive, Di-Ann Eisnor aims to spotlight innovators with diverse ideas. In what's described as a "neighborhood-specific fund", communities that lack access to Silicon Valley resources are provided with mentors, workshops, funding and more. Neighborhood development and revitalization drive the program's foundation with a goal of generating more startups in overlooked communities. The profits are then reinvested into the same neighborhoods to produce a hyper-local economic impact. "We're looking for very big good ideas. We want companies that can generate at least $100 million," Eisnor told The Chicago Tribune. "We want to create a real change, and to do that, we need some super-successful companies." Since the October 2015 launch in Brownsville, Brooklyn the Neighborhood Start Fund has expanded to 9 neighborhoods.

Those areas include:

Englewood, Chicago, IL Overtown, Miami, FL South Central, LA, CA East NY, Brooklyn, NY Jamaica, Queens, New York Lawndale, Chicago, IL Roxbury, Boston, MA Anacostia, Washington, DC Brownsville, Brooklyn, NY

Here's a look at the first meetup in SoCal earlier this summer.

Neighborhood Start Fund seeks to support a wide array of ideas. Click here to pitch your idea. The deadline for entries is September 2nd.

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