Wednesday, February 28, 2024

EAP receives $600,000 grant to expand services

by BIZ. Staff

The Entrepreneurial Accelerator Program (EAP) has received a $600,000 grant to help further economic growth in north Louisiana.

The Economic Development Administration under the U.S. Chamber of Commerce announced the award Monday. The EAP is administered by the Biomedical Research Foundation of Northwest Louisiana (BRF) in Shreveport.

This grant will be matched by local funds, bringing totaling funding for the project to $1.2M.

The grant will allow the program to expand to 21 additional parishes, creating 200 jobs and $15 million in revenue.

“The EAP serves as a one-stop-shop for emerging entrepreneurs in Caddo Parish. Now, this grant will (result) in revenue in areas of the state that are most in need. I am pleased to see national recognition of the economic potential in north Louisiana, and look forward to the expansion of the EAP,” Rep. Mike Johnson (LA-04) said in a letter of support to Commerce Secretary Wilbur Ross late last year.

The Entrepreneurial Accelerator Program offers mentorship programs for startup founders. The EAP facilitates value-added advisement, collaboration with other startup companies, networking, the opportunity to present to multiple investors, seed investment, sidecar investment and syndication. The EAP stimulates the creation of entrepreneurial wealth and enhances the regional innovation ecosystem of northwest Louisiana.

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