Louisiana
State Resources
Louisiana is filled with contrasts. Known for New Orleans, its vibrant cultural center, the state is also rich in natural resources. Forests cover half the state and is Louisianna’s primary agricultural product. The largest coastal fisheries in the continental U.S. and 40% of the nation’s coastal wetlands are Louisianna. The state is also home to hundreds of chemical manufacturing facilities and the nation’s largest petrochemical corridor. Louisiana Economic Development (LED) is “responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy,” with a mission to “cultivate jobs and economic opportunity for the people of Louisiana.” According to LED, Louisiana boasts the #2 State Tech Talent Pipeline in the U.S., is home to the biggest National Science Foundation grant ever awarded as well as the world’s largest ROV manufacturer. This is also where many components for NASA missions to space have been manufactured or assembled.
Louisiana Growth Fund
The Louisiana Growth Fund has initial federal funding of $50 million intended for use in establishing and scaling startups across Louisiana. The Louisiana Growth Fund acts as the direct investment arm of the State’s Small Business Credit Initiative (SSBCI) program, Louisiana Opportunity Capital, and offers equity investments of $250,000 to $1 million in high-growth, scalable startups based in Louisiana. The Fund matches private capital on a 1:1 basis.
Louisiana Seed Capital Program
The Louisiana Seed Capital Program (LSCP) provides financing to start-ups and early-stage small businesses through approved Louisiana-based program participants, including venture capital funds, early-stage investment funds and nonprofit organizations. These participants provide private financing through seed funding to Louisiana-based start-ups and early-stage small businesses with 500 employees or less.
Louisiana Innovation Retention Grant Program
The Louisiana Innovation Retention Grant Program began in 2022 and awards up to $100,000 for eligible businesses. The goal of the program is to help the state support and retain STEM start-up companies and their associated talent. The grant program is intended to demonstrate Louisiana’s support for innovation by supplementing federal research dollars received by businesses in the state, and increase the investment in research conducted during Phase I of the SBIR program to make Louisiana-based businesses more competitive when it comes to Phase II funding. Eligible businesses include those that operate for-profit, are based in Louisiana, and have received a Phase I or Phase II SBIR/STTR award after June 15, 2022. The grant funding is divided into two equal amounts and disbursed over a two-year period.
