Program preps would-be entrepreneurs, pairs with potential investors

There is hope for aspiring entrepreneurs with a relatively new organization designed to help them get a foothold in the business world.

Entrepreneurial Accelerator Program celebrated its inaugural year, and Executive Director David Smith said they did so with seven new companies that have already created 27 jobs in North Louisiana and received more than $10 million in additional capital from San Francisco, Austin, Dallas, Houston, New Orleans and Baton Rouge.

“Over that first year, we looked at more than 170 different companies from all over,” Smith said.

Smith and Jay Meyers, vice president for external affairs, are the links between EAP and the Biomedical Research Foundation.

“BRF formed the accelerator with the support of the city of Shreveport and the Caddo Parish Commission,” Smith said.

“We became a public-private venture with them.”

But the EAP concept originated with Dr. John George, a successful entrepreneur and investor, and was extended to Dr. John Sibley Butler with the University of Texas IC² Institute.

“One of the key components of that institute is reinvesting your wealth in start-ups, which generate wealth,” Smith said. “He was telling us we need an ‘angel’ group, the ability to get local ideas in front of your angels and allow them to invest in those groups. Then when those start-ups become successful, they invest their wealth in the community.”

In less than a year, EAP and the North Louisiana Angel Fund were a success story of their own.

“We got 53 investors to contribute their wealth and form a fund where they decide what they invest in,” Smith continued.

EAP then screens the applicants and helps them mature their ideas and methods to pitch to the investment group.

Smith said the criteria is stringent and includes keeping the newly-funded business in the Shreveport-Bossier City area.

“The business also has to be seed to early-stage in start-up,” he said. “Then, you have to be a high-growth company ... not just trying to make $200,000. High growth to us is jobs and company value.”

Meyers said when pairing aspiring business owners with the investors, EAP interviewed all 172 companies.

“We helped them formulate their plans, build a pro-forma, a pitch, understand how they’re going to grow,” Meyers said.

“Then we helped them get in front of those 53 investors and get those investments.”

In some cases, some of the investors have provided money above and beyond the group, he said.

“We even got $10 million of outside investment from companies or individuals from outside Shreveport-Bossier [City] to invest their money in these start-ups,” Smith said. “So they brought, total, over $12 million in investment into the area this first year.”

Pet-lover Dexter Blanch was one of the lucky seven with his newly-formed company, Highly Favored Creations.

“Being a dog trainer and a guy that handled a lot of dogs growing up, there was always a problem when the female comes in heat,” Blanch said. “Science tells us that we have been spaying and neutering our dogs too young. We aren’t against traditional forms of birth control, but we are trying to disrupt spaying too young. It causes a lot of diseases associated with taking four to six years off their lives.”

It was while hunting that Blanch had what he describes as his “ah-ha” moment.

“We saw quite a few rabbits, but the dogs weren’t interested in them,” Blanch said. “It was seven male [dogs] and one female, and they were all interested in her. I suddenly thought, ‘what if she had something on where she can still hunt and nothing will get to her.’” Highly Favored Creations and Pet Anti Breeding System – the first canine chastity belt – came into being.

Following a hunting accident that ended his career as a master carpenter, Blanch and his partner, Patrick L. Mixon, came up with the working prototype.

“I read about EAP in the newspaper,” Blanch said. “We got introduced to this process, and things started moving pretty fast.”

Blanch is producing and selling his product all over the world, thanks to the coaching and networking opportunities of EAP.

Another local company reaping benefits is Swaybox Studios.

“We had never done anything in the entertainment industry,” Smith said. “They came to us, and we started researching it and found that in 2014, there were 98 different entertainment companies that sought investment.”

When they took a good look at Swaybox Studios, “We thought, ‘Holy cow, there’s something here.’” CEO Arthur Mintz created the technology that is the game changer for Swaybox Studios in the entertainment industry.

“We have invented a new technology that gives puppets the same range of expression and articulation as characters in animated films,” Mintz said. “Everything is fully articulated to look like a fully animated character.”

Mintz, who is originally from New Orleans, had been working with the other owners, Chief Operating Officer Theresa Andersson, lead puppeteer Chris Armand and supervising puppeteer Chris Armand, to develop the proof of concept piece.

Mintz and his partners contacted Smith and presented their proof of concept clip and “what we thought was a business plan.” Smith convinced the group to keep their business in the area with a promise of help in developing a business plan, a six-month process that included meeting twice a week for a few hours a day.

“They [EAP] got us ready for the pitch for the Angel Fund, which funded one-third of our start-up costs,” he said.

“The rest came from Baton Rouge and New Orleans. But they believed in us enough to invest in us, knowing we were agreeing to stay in Shreveport.”

Swaybox Studios is working on its first full-length film.

In addition to these two companies, EAP and NLAF have helped Embera NeuroTherapeutics, Mainspree, Innalyzer, Lagniappe Labs and Scada Access. EAP is continually seeking potential business opportunities. Interested applicants can apply at www.EAPLA.com.

–Bonnie Culverhouse