• Join your peers at SSTI's 2024 Annual Conference!

    Join us December 10-12 in Arizona to connect with and learn from your peers working around the country to strengthen their regional innovation economies. Visit ssticonference.org for more information and to register today.

  • Become an SSTI Member

    As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies.  Learn more about membership...

  • Subscribe to the SSTI Weekly Digest

    Each week, the SSTI Weekly Digest delivers the latest breaking news and expert analysis of critical issues affecting the tech-based economic development community. Subscribe today!

Louisiana Tech Fund Gets $2.3M for Startups

June 28, 2004

Two years following its creation, the Louisiana Technology Fund has $2.3 million to help the early-stage technology companies for which it was intended, the Baton Rouge-based Advocate reported earlier this month. The fund stems from 2002 legislation that revived Louisiana's Certified Capital Companies (CAPCOs) program.

With the initial pool of money, the fund could support up to 12 Louisiana technology startup companies. The money is derived from the state's CAPCOs, which are required to invest 10 percent of their earnings into such startups. The state's four research parks, located in Baton Rouge, Lafayette, New Orleans and Shreveport, will oversee the fund, according to the Advocate.

The Louisiana CAPCO program was created in 1983 to encourage private sector investment. Since 2002, the program has generated $80 million. Only one of Louisiana's participating capital companies chose not to deposit its required amount into the new fund.

More information on the Louisiana Technology Fund is available by contacting Louisiana Technology Park at http://www.latechpark.com.