Friday, February 23, 2024

$1.2 million expansion to entrepreneur accelerator program to be announced Friday

by BIZ. Staff

WASHINGTON, D.C. – U.S. House Representative Mike Johnson (R-La.) and U.S. Senator Bill Cassidy, M.D. (R-La.) will join Innovation North Louisiana tomorrow in announcing a $600,000 grant being awarded to the Biomedical Research Foundation (BRF) for the Entrepreneurial Accelerator Program (EAP).

The grant will result in the creation of the North Louisiana Entrepreneurial Accelerator Program (NorLEAP) and expand EAP service to 21 parishes with hands-on, industry specific guidance in growing and building their businesses.

BRF will match the $600,000 grant, bringing the total project cost to $1.2 million. According to BRF, their efforts will save or create more than 200 jobs and generate $15 million in revenue in the first 15 months.

“This investment will be a huge economic driver for Louisiana and our respective communities. One of the biggest challenges our businesses face is simply getting off the ground,” said Johnson. “NorLeap will give them the assistance and guidance they need to prosper in today’s booming economy.”

Rep. Johnson advocated for this grant in a letter to the U.S. Department of Commerce in December 2017.

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