Brady PieperLouisiana is embarking on a technology innovation revolution with the support of several public-private partners (P3).
Louisiana Economic Development (LED) is announcing the launch of Louisiana Innovation (LA.IO), a new collaborative division that will expand the development of business, artificial intelligence (AI) and technology opportunities throughout the state. Housed under LED, the new LA.IO division will pursue several initiatives that are designed to attract businesses and private investments while reinforcing the state as home for high-growth, technology-enabled startup companies.
“Successfully positioning Louisiana to win demands that we not only attract new businesses, but grow new businesses from the ground up,” LED Secretary Susan B. Bourgeois said. “Louisiana Innovation is dedicated to working with startups as well as existing companies to grow Louisiana’s innovation economy.”
As part of this announcement, LA.IO will create and inject $50 million into the Louisiana Growth Fund, which will use federal dollars to reinforce the state’s business growth and scaling.
The division will also engage with industry partners who are already investing in Louisiana businesses through seven private seed capital funds. While LED anticipates expanding its P3s in 2025, LA.IO will utilize existing partnerships with 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 the growth fund, these private investments and previous funding from the State Small Business Credit Initiative, Louisiana innovators will have access to an estimated $100 million in total capital funding from federal, state and private investors.
Inspired by other AI projects like the Empire AI Institute in New York, the state’s new LA.IO division will address another rising national priority by creating the Louisiana Institute for Artificial Intelligence to support small businesses’ access to AI technology, tools and resources. Operating as a 501(c)(3), the new Institute for AI will, initially, upgrade 5,000 small businesses with competitive AI tools and continue to advance Louisiana’s statewide AI strategy.
The creation of LA.IO will reform and involve several existing LED divisions that are responsible for funding, loan and investment programs, including the LED Corporation, tech transfer office, small business services team and Louisiana Entertainment.
Emphasizing collaboration, P3s will play a prominent role in guiding the state’s economic future and spurring private investments for local innovators and small businesses. LA.IO will host multiple events in the future to expand business networks and assist local companies, including Idea Village in New Orleans, Opportunity Machine in Lafayette and EAP and Startup Prizm in Shreveport.
State officials anticipate LA.IO will provide innovators with a dedicated agency that can support businesses throughout their unique journeys. Officials note that recent investments into Louisiana, such as Meta’s $10 billion Richland Parish data center project, are proof that investing in innovation will guide the state into the “next industrial revolution.”
The state’s LA.IO announcement also highlights autonomous car developer Waymo’s selection of New Orleans for the 2025 Waymo Road Trip Tour. New Orleans will be one of 10 cities around the country that will train, optimize and inform the next generation of autonomous navigation systems.
As the new initiatives progress, LED and LA.IO will continue to seek collaborative P3s that can spearhead innovation across Louisiana’s state-based industries. Entities looking to get involved can find additional resources on LA.IO’s dedicated website or LED’s Opportunity Louisiana.com.
“Now united under the Louisiana Innovation initiative, these partners will work together with dedicated staff, shared tools and real-time collaboration to create an innovation ecosystem that is greater than the sum of its parts,” LED Chief Innovation Officer Josh Fleig said. “These and future partners from other regions are critical to LA.IO’s success, because they provide the expertise needed to coach entrepreneurs through complex challenges, from creating business models to preparing for investor pitches.”
Photo by Adi Goldstein on Unsplash
