The Research Park Corporation, located in Louisiana Technology Park in Baton Rouge, has just announced a $250,000 approval to launch the LSU Re-LIFT2 program. The program, launched in partnership with the LSU Research and Technology Foundation, will compliment the existing LIFT2 Fund. The newest fund will assist promising applications that did not qualify or received prior investment from LIFT2.
“We’ve had great interest and support of our LIFT2 fund, and now the Re- LIFT2 will further assist the transfer of innovation out of the labs and into market,” said LSU President and Chancellor F. King Alexander. “We are excited about building on our partnership with the Research Park Corporation and look forward to more opportunities to work together to support innovation and entrepreneurship across Louisiana.”
The organization was created to promote the high-tech sector in state. Research Park Corporation Chairman Terrell Brown said that funding the Re-LIFT2 program is another step in the right direction to fulfill the mission. The organization also promotes technology-led economic development, and the ultimate goal is to create new technology, high-tech jobs, and promote research in Louisiana.
This latest funding will support at least 30 projects which were not originally selected. Up to $5,000 per company would be provided to improve the applications of those companies, ideally raising the likelihood of funding, according to Louisiana Technology Park representative Jesse Hoggard.
“Re-LIFT2 will assist LSU in advancing its early-stage technologies,” said Arthur R. Cooper, CEO of the RTF. “These grant funds can provide competitive analysis, marketing studies or help strengthen other areas that will improve LSU technologies. Re-LIFT2 can provide the stepping-stones toward successful commercialization,” Cooper said.