Startup survey sheds light on early-stage New Orleans economy
More than 200 young businesses contributed to the 2020 Greater New Orleans Startup Report survey, according to the Albert Lepage Center for Entrepreneurship and Innovation at Tulane University’s A. B. Freeman School of Business.
Data from the survey comprises the report, which addresses “the need for regional benchmarking for the startup and early-stage economy.” The data also provides insights on startups’ revenue, growth and hiring and forms a more robust picture of what local companies need to flourish. The Lepage Center and its partners hope to use the data to improve the local business climate through affecting policy and implementing programming.
The center also encourages faculty and students to utilize the data in research. Thus far, Freeman School faculty have followed up with some entrepreneurs in the dataset and MBA students have conducted focus groups with local founders who indicated interest.
This is the second year that the Lepage Center has generated such a report; the 2020 edition will be published in the fall.
“I am so glad that the business community has continued to support this research initiative we launched last year,” says Rob Lalka, executive director of the Lepage Center. “Our students, faculty, business leaders and policymakers will be able to use this report to have a real impact by studying the trends, challenges and opportunities for entrepreneurs and investors across our region.”
Startups less than five years old or with annual recurring revenue of less than $60 million in Orleans, Jefferson, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Tammany, Tangipahoa and Washington parishes were eligible to contribute.
Contributors answered questions about their company’s size, revenue and funding sources, workspace and work force, technology, and customer base, as well as about their founders’ demographics. They were also encouraged to explain opportunities for growth, challenges to success and how their company fits into the regional business culture. All answers are anonymous.