Fund 17 is fighting opportunity inequality in the seventeen wards of New Orleans.
New Orleans is currently experiencing an entrepreneurial renaissance. The tech industry is booming, new co-working spaces and incubators are popping up around town, and searches for the next “big idea” expand. Unfortunately, while these high-growth businesses gain technical assistance, investments, and visibility, there exists a lot of “hustle” or informal enterprises that are ignored as part of this entrepreneurial market. We use our own terminology, ‘opportunity inequality’, to explain the situation we see everyday: the poor lack the assets to achieve economic mobility while the wealthy and middle-class can use their resources to succeed.
Too many New Orleanians are underserved by traditional financial institutions.
Although inequality is a growing global problem, New Orleans consistently displays higher levels of inequality than national averages:
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