LouisianaBio has teamed up with Baker Donelson to release a report on the “State of Life Sciences Entrepreneurship in Louisiana.” The report analyzes the perceived industry climate for startups, and seeks to identify statewide challenges and opportunities for entrepreneurs looking to raise capital, commercialize discoveries and build life sciences businesses.
The report acknowledges and highlights the significant growth throughout Louisiana’s life sciences sector, with a focus on the entrepreneurial environment, and the general importance of life sciences companies for the economy and society in state. It features elements such as data points and recommendations on economic and growth factors including workforce development and hiring activity, access to capital, the formalization of mentoring programs, and collaboration among academic institutions and the private sector.
LouisianaBio, housed in the New Orleans BioInnovation Center, is the state affiliate of the world’s largest biotechnology industry trade association, the Biotechnology Industry Association. The nonprofit organization has launched a statewide search for members who are interested in growing the Louisiana biotech industry.
The Baker Donelson law firm has nearly 700 attorneys and public policy advisor on hand throughout their 20 offices in Alabama, Florida, Georgia, Louisiana, Mississippi, Tennessee, Texas and Washington, D.C. The firm is excited about the enthusiasm the report has garnered and the amount of participation found across the entire state.
“By further identifying the challenges and opportunities faced by life sciences professionals, we can provide them with the tools and incentives necessary to further establish their businesses and deepen their roots in Louisiana. We’ve come a long way, and we’re hopeful for even more success using this report as a resource,” said David Rieveschl, a shareholder in Baker Donelson’s New Orleans office and vice-chair of the firm’s Emerging Companies Team.
“The report confirms that we are doing certain things well, but also identifies areas for improvement, such as better publicizing sources of capital and research funding at the state and federal levels and through private investment opportunities,” added Rhonda Melancon, executive director of LouisianaBio. “Early access to funding helps fuel research and helps strategically grow businesses in the life sciences industry, hopefully enabling them to become economic powerhouses for Louisiana and show our state’s potential.”
The complete report is available at bakerdonelson.com/louisiana-life-sciences/.
This year’s Silicon Bayou 100 was made possible by sponsors 365 Connect, a leading provider of award-winning marketing, leasing and resident technology platforms for the multifamily housing industry, and LookFar, a software development studio. Beer from our beverage sponsor, the startup brewery Cajun Fire, will also be provided.