Hip-hop artist Lupe Fiasco has launched the Neighborhood Start Fund, a new neighborhood-specific non-profit organization to help entrepreneurs turn their ideas into start-ups.
Fiasco announced the new organization on Twitter this week. According to the organization’s website, Fiasco co-founded the Neighborhood Start Fund with Di-Ann Eisnor, director of Waze.
By providing access, network, workshops, mentoring and funding, Fiasco and Eisnor will support entrepreneurs from underserved areas and help turn their ideas into start-ups. Recognizing the need for more diverse entrepreneurs, the organization hopes to help people whose opportunities would otherwise be limited by their resources.
Brownsville, Brooklyn is the first neighborhood to be targeted. Submissions are currently being accepted on the site. The organization will host the first live pitch event on Nov. 13.
"We want to turn every neighborhood fund into a local micro-economic engine," the foundation's site reads. "Proceeds of every successful exit from Brownsville is reinvested into other Brownsville start-ups! And the same goes for each new neighborhood we enter. Our goal is the first $100MM+ business from our neighborhoods!"
Space is limited to 100 guests and finalists will pitch their ideas to six judges from the “food, retail, entertainment and technology” industries. The winner will be awarded $5,000 to transform an idea into a prototype.
Learn more about Neighborhood Start START here --> http://t.co/M6Dz0NJuJT @thestartfund
— Lupe Fiasco (@LupeFiasco) October 12, 2015
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