On October 12, just three days ago, Lupe Fiasco announced the launch the Neighborhood Start-up Fund, a non-profit that will help entrepreneurs in economically disadvantaged communities bring their ideas to life. Lupe has partnered up with Di-Ann Eisnor, Head of Growth & Global Partnerships at Waze, a social gps and real-time-traffic app. According to the website, The Neighborhood Start-up Fund:

“created a neighborhood-specific fund to support entrepreneurs and start-ups from under-served areas and of course so the best new ideas won’t go wasted. We provide access, network, workshops, mentoring and of course funding.”www.start.fund

Front page of the Brownsville Com

The fund’s executive team plans to travel to under-served neighborhoods across the country and hold idea to prototype competitions. Entrepreneurs from these neighborhoods will present their ideas to a panel of 6 judges from food,retail, entertainment and tech industries. The winner of the competition will then have access to resources to help bring their ideas to life in the local community (networking, workshops, mentoring, and course funding).

The first competition has been announced for for November 13, 2015 in Brownsville, a neighborhood in Brooklyn, New York. Brownsville has a median household income of $16,000 and the highest concentration of Section 8 housing in New York. The winner of the competition will receive $5,000 dollars toward their idea along with the the supplemental resources.

Brownsville has the highest concentration of public housing in NY.

The fund’s ultimate goal is to turn every one of these neighborhoods into small micro-economic engines. Stay tuned to Rare Norm for updates on the competition and the future endeavors of the Neighborhood start-up Fund.

Sign up for the competition here

What do you think about this idea? Tell us in the comments below!

Lupe Fiasco Co-Founds Start-up Fund for Under-served Areas