Louisiana Innovation

Louisiana Innovation is a division of Louisiana Economic Development (LED) dedicated to fostering high-growth, technology-enabled startups across Louisiana. The initiative's primary vehicle is the Louisiana Growth Fund, which offers equity investments ranging from $250,000 to $1 million to Louisiana-based startups poised for scaling. This fund operates on a 1:1 matching basis with private capital, aiming to amplify the impact of private investments in the state's entrepreneurial ecosystem. The fund focuses on companies that are Louisiana-based C-Corporations with scalable business models generating revenue, spanning stages from Seed to Series A and Growth. The investment strategy is industry-agnostic, excluding lifestyle businesses, and emphasizes a committed private match funding from various investors, including venture capitalists, angels, and family offices. The application process involves a rolling review, with selected companies undergoing a diligence process of 4–6 weeks before funding deployment. The Louisiana Growth Fund is managed by Yellow Ventures, a venture firm contracted by LED, which conducts due diligence, negotiates terms, and makes investment decisions for the fund. This initiative is part of a broader effort by Louisiana Innovation to unite partners supporting innovators, including Ochsner Louisiana’s Innovation Fund, Tulane University’s Innovation Institute, the New Orleans Startup Fund, Innovation Catalyst, Boot64 Ventures, The Idea Village, and Propeller. Through these collaborations, Louisiana Innovation aims to provide additional capital and resources to promising startups, boosting the total available funding to over $100 million. The overarching goal is to create an innovation ecosystem that fosters the growth of new businesses from the ground up, positioning Louisiana as a leader in the next industrial revolution. By investing in the development of more high-growth, technology-enabled startup companies, Louisiana Innovation seeks to redefine the state's economic landscape and enhance its competitiveness in the global market. This comprehensive approach underscores the state's commitment to nurturing its entrepreneurial community and driving sustainable economic development through innovation and collaboration.