Baton Rouge, La. –At a meeting of its board of directors today, the Research Park Corporation approved $250,000 to launch the LSU Re-LIFT2 program, in partnership with the LSU Research and Technology Foundation (RTF). Re-LIFT will compliment LSU’s LIFT2 Fund which funds research projects across the LSU System which have yet to be licensed, optioned or otherwise committed to a commercial partner. The Re-LIFT2 fund will assist the most promising applications that did not receive a LIFT2 Fund investment. Up to $5,000 per company would be provided to improve the applications of those companies, ideally raising the likelihood of funding during the next LIFT2 round.
“The Research Park Corporation was created to promote the high-tech sector in Louisiana, as well as technology-led economic development, with the ultimate goal of creating new technology, high-tech jobs and promoting research in our great state, “ said RPC Chairman Terrell Brown. “Funding the Re-LIFT2 program is another step in the right direction is fulfilling that mission,” Brown said.
Re-LIFT2 will be a two-year program that will provide selected applicants from the first four rounds of the LSU LIFT2 program with assistance. The LSU Research & Technology Foundation in conjunction with the five research campus technology transfer directors (TTOs), will select the participants for Re-LIFT2from the pool of unsuccessful applicants of the-LIFT2 competition over the two-year life of the program. The RTF and TTOs will collaborate to develop and customize the assistance needed by each project selected for Re-LIFT2 support. The RTF will partner with the TTOs to develop educational and training workshops to help researchers improve their applications, and will directly engage service providers to assist the faculty participants in the Re-LIFT2 program.
“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 analyses, marketing studies or help strengthen other areas that will improve LSU technologies. Re-LIFT2 can provide the stepping-stones toward successful commercialization,” Cooper said.
“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 RPC’s $250,000 in funding will support at least 30 projects which were not selected to receive a LIFT2 award. Those researchers will use the Re-LIFT2 awards to better position their projects for success in obtaining proof-of-concept funding to advance innovations closer to commercialization.
It’s anticipated that the Re-LIFT2 program could begin making its first awards by the end of October. For more information on the Research Park Corporation, its mission, programs, etc., contact Jesse Hoggard.
Jesse T. Hoggard, APR
Director of Marketing & Business Development
Louisiana Technology Park