Michael Hecht, CEO of Greater New Orleans, Inc, the post-Hurricane Katrina regional economic development organization, has deep ancestral roots in New Orleans but he didn’t call the city home until after Hurricane Katrina had struck in 2005.
Hecht, who until that point had lived on either coast, had worked in post-disaster redevelopment during a post-9/11 stint in New York in the Bloomberg Administration. His wife fell in love with New Orleans during a meandering cross-country honeymoon and they have been there ever since.
GNO is not a business, but it is the engine driving the resurgence of the New Orleans region as a startup hub, and not just a tourist destination. Hecht and GNO marked a milestone recently when a New Orleans startup, Lucid, was acquired for $1.1 billion, making it the first New Orleans unicorn.
Hecht, though a Yale graduate born in New York City, and thus a Yankee by birth, was named one of Ten People Who Made a Difference in the South.
GD: GNO, Inc., on its website, describes itself as “your business concierge.” What does that mean, in practical terms?
Michael Hecht: It means that GNO, Inc. will do anything that we need to in order for your business to be successful in Greater New Orleans, as long as its legal. And if it’s not legal – maybe we’ll change the law.
GD: What brought you to GNO in the aftermath of Katrina?
Michael Hecht: My mother’s family is from New Orleans, with roots going back to the 1830’s. But she married a Yankee, so I grew up in New York. I visited New Orleans often growing up, but never thought I would end up here. That changed in 2001, when my wife (who is Danish) and I took a 9-week, 15,000-mile trip across the United States. When we came through New Orleans, my wife said to me: “We should move to New Orleans. It’s the only place in the country where you actually know where you are!” That notion stuck with me, even as we moved from San Francisco to NYC so I could be part of the post 9/11 rebuild under Mayor Bloomberg. When Katrina hit New Orleans, I had the opportunity to return to New Orleans to lead the small business recovery effort for the state. The prodigal son returns.
GD: How significant have startups been in the economic recovery of New Orleans since Katrina?
Michael Hecht: Startups have been important to the economic recovery of New Orleans on multiple levels.
Financially, startups have attracted millions in investment, and created over a billion dollars in new wealth. In terms of talent, startups and entrepreneurship have attracted some of the best and the brightest in the world to New Orleans.
Finally, emotionally, the startup community has been an invaluable source of energy, pride, and joy for post-Katrina New Orleans.
GD: I understand New Orleans recently celebrated its first post-Katrina unicorn when Lucid was acquired for $1.1B. How big a milestone is that for GNO?
Michael Hecht: The first unicorn for New Orleans is important on many levels. First, it validates New Orleans as an ecosystem to investors across the country and globe. Second, Lucid injected about $600M of new wealth into the New Orleans economy via owns, employees, and investors. Finally, the exit of Lucid will inform and inspire the next generation of entrepreneurs in the region.
In summary, Lucid – our first “black and gold unicorn” – represented the all-important first full turn of the entrepreneurial flywheel in Greater New Orleans.
GD: Looking over your LinkedIn I see you worked 10 years in business before you took a job in NYC Department of Small Business Services in 2004 and it’s been all government or nonprofits since. What attracts you to governments and nonprofits? What can you accomplish there that you can’t do working for, or even leading, a business?
Michael Hecht: I enjoyed my time in business, and found the experiences invaluable. The obvious attraction of government and nonprofit work is the mission-focus. That said, there are many for-profits that are strongly mission-driven, and many non-profit and government gigs that lost their north star a long time ago.
I think that I am very lucky to be in a role that leverages all of my background, from corporate business, to entrepreneurship, to non-profit, to government – all in a very dynamic environment. Only GNO, Inc. could really rationalize the first twenty years of my career!
GD: Tell us about your alternative life as DJ El Camino.
Michael Hecht: In New Orleans, everyone has a side hustle. Mine is as a DJ. I love the communal joy you can get with a great set. My most recent gig was playing at a New Orleans Jazz Orchestra event, following Big Freedia. I think I’ll get a “ham and cheese” slot at the upcoming Buku festival. Only in New Orleans.
GD: Anything you want to add that I haven’t asked about?
Michael Hecht: New Orleans is the most human city in America. If you like people, you will love New Orleans. If not, I have some other places I can recommend for you.
