VCs and founders are finding life easy in the Big Easy

Source:https://techcrunch.com/2023/02/28/new-orleans-venture-capital-startups/ VCs and founders are finding life easy in the Big Easy 2023-02-28 21:56:19

The good times are starting to roll in the New Orleans startup ecosystem.

TechCrunch spoke to local founders and investors for a vibe check: How is the city emerging as a tech hub? A flood of both founders and capital is entering the market; that, coupled with tax and business incentives to keep them there, makes NOLA an attractive place to start a business.

The city minted its first unicorn in 2021 when software company Lucid sold for $1.1 billion to Swedish tech firm Cint Group. That same year, Shutterstock acquired the animation studio TurboSquid for $75 million, and Procore Technologies acquired NOLA-based software construction company Levelset for $500 million.

Of course, there are a few issues NOLA must overcome for it to be a true tech hub, founders and VCs told TechCrunch: There’s a lack of technical talent, making it hard to find local people to hire. And although money has been flowing in, the city needs more capital to keep up.

Science, Tech, Technology Source:https://techcrunch.com/2023/02/28/new-orleans-venture-capital-startups/