Launch Pad Ignition Accelerator isn't an accelerator anymore

Louisiana's Launch Pad Ignition accelerator announced on Friday on its blog that it's not an accelerator anymore. This marks the second major shift in their modus operandi in the 2-1/2 years they've been operating. A related article was posted on Silicon Bayou News.

Launch Pad Ignition's blog describes the change this way:

'We’re extending the curriculum, mentors, and network that we developed for the Launch Pad Ignition accelerator program to an open approach that focuses resources on all Launch Pad members, founders in our community, and companies launching in the region.  We’re exchanging the standardized slice of equity model for a more natural approach where we’ll be investing as angels in companies we love. '

and it goes on to say

"In the spirit of alignment, we no longer will run Launch Pad Ignition as an accelerator program, we’re encouraging founders to apply for the Idea Village IDEAxcelerator (apply by 8/27) for the formal mentorship and curriculum provided by an accelerator program."  (emphasis added by Accelerator Gazette)

The problem may have been a saturation of the accelerator model in the New Orleans area. For example,  Launch Pad Ignition said "...The entrepreneurial season created by Idea Village [i.e. IDEAxelerator] and culminating at New Orleans Entrepreneur Week in March has emerged as a powerful institution...". Is this code for there not being enough capaciity for two accelerators in the region?

As of this writing ( the afternoon of August 26), all of the pages on their website --except the announcement on their blog-- were broken.

for more information:

http://lpignition.tumblr.com/post/30120497605/launch-pad-an-open-approac...

http://siliconbayounews.com/2012/08/24/unbundling-a-new-approach-for-lau...