Falaya Real Estate, a Louisiana proptech innovator, has made headlines by winning the prestigious IDEApitch competition during New Orleans Entrepreneur Week. This victory not only highlights Falaya’s potential but also resulted in a $250,000 investment opportunity from The Idea Village’s new ‘Momentum Fund’. The company’s success solidifies its position as the most fundable startup in Louisiana.
“We’re thrilled to take home the win at the reformatted IDEApitch Showcase,” said Barret Blondeau, Founder of Falaya Real Estate. ” This investment opportunity, combined with the recent NAR antitrust lawsuit settlement, creates significant momentum for our fundraising efforts as we scale across the Southeast.”
Jon Atkinson, CEO of The Idea Village, said “As our opportunity to showcase and rally the community around leading local startups during NOEW, IDEApitch has served as a substantial launchpad and has included companies that went on to achieve $1 billion+ valuations.”
Jon Atkinson, CEO of The Idea Village, expressed, “IDEApitch showcases the rising stars of our local startup scene. Companies that have graced this stage have gone on to achieve incredible valuations. The launch of our Momentum Fund allows us to truly invest in these breakout Idea Village alumni.”
The Momentum Fund is a $7 million venture capital fund aimed at supporting Idea Village’s top startups. Its private funding, along with support from Louisiana Economic Development, allows The Idea Village to invest directly in promising companies.
Capital for the Momentum Fund comes from 24 individual investors and family offices including those of New Orleans and the Gulf Coast’s leading founders. This private capital is complemented by state investment through Louisiana Economic Development’s SSBCI (State Small Business Credit Initiative) program. To receive investment, all companies will have to meet the fund’s criteria for investment, including raising 2x the allocation of the fund from outside sources and receiving approval from the Momentum Fund’s investment board.
“IDEApitch fueled my own company’s growth,” stated Patrick Comer, founder of Lucid and lead investor in the Momentum Fund. “This fund allows us to scale support for the next generation of Louisiana-born businesses.”
This victory shines a spotlight on the thriving innovation ecosystem in Louisiana. This win, along with the support of the Momentum Fund and visionary investors, demonstrates that Louisiana is a breeding ground for high-growth, transformative startups. Falaya is proud to represent the state’s entrepreneurial spirit on a national stage.
Falaya’s success story is just beginning. With its proven model, industry-shaking momentum, and newly secured funding, Falaya presents a compelling investment opportunity for those seeking to participate in the future of real estate.
