The Research Park Corp. in Baton Rouge approved $250,000 Friday to launch the LSU Re-LIFT2 funding program for research projects across the LSU System.
The RPC board also awarded $537,000 in 2015 funding for Innovation Catalyst Inc., a tenant at Louisiana Technology Park, a business incubator that is managed by the RPC in the Bon Carré Business Center on Florida Boulevard.
Re-LIFT2 — funded for the LSU Research and Technology Foundation — will complement LSU’s LIFT2 Fund. The Re-LIFT2 funds will be used on promising projects that did not receive a LIFT2 Fund investment and have yet to be licensed, optioned or committed to a commercial partner.
In July, LSU LIFT2 awarded grants totaling $500,000 to 15 of the first 47 applicants across the LSU System.
Those who did not receive any of that funding now may receive assistance from Re-LIFT2. The Re-LIFT2 program will provide up to $5,000 per project and could award its first grants by the end of October.
The LSU Research and Technology Foundation, in conjunction with the system’s five research campus technology transfer directors, will select the participants for Re-LIFT2.
“Re-LIFT2 will assist LSU in advancing its early stage technologies,” said Arthur R. Cooper, CEO of the foundation. “These grant funds can provide competitive analyses, marketing studies or help strengthen other areas that will improve LSU technologies. Re-LIFT2 can provide the stepping stones toward successful commercialization,” Cooper said.
“The Research Park Corp. was created to promote the high-tech sector in Louisiana, as well as technology-led economic development, with the ultimate goal of creating new technology, high-tech jobs and promoting research in our great state,” RPC Chairman Terrell Brown said. “Funding the Re-LIFT2 program is another step in the right direction in fulfilling that mission.”
In return for the $537,000 Innovation Catalyst is receiving, it must invest in at least two entrepreneurial enterprises in the Baton Rouge area or other areas of Louisiana that have experienced economic decline and community deterioration.
Innovation Catalyst also must develop and operate a mentoring program for early grant recipients and entrepreneurs in the Baton Rouge area.