Louisiana is making a major investment in technology-driven economic growth with the launch of Louisiana Innovation (LA.IO), a new division of Louisiana Economic Development (LED) aimed at expanding the state’s high-growth, tech-enabled startup ecosystem.
Announced at the Super Bowl LIX Innovation Day event, LA.IO’s first major initiatives include the creation of the Louisiana Growth Fund, an initial $50 million fund to support startups, and the establishment of the Louisiana Institute for Artificial Intelligence, which will focus on AI research, workforce development, and commercialization.
A Bold Investment in Innovation
The Louisiana Growth Fund will serve as a catalyst for startup development, with equity and incubator partners contributing matching funds, bringing the total investment to $100 million. These funds will help entrepreneurs establish and scale businesses across the state.
Among LA.IO’s early focus areas is the Louisiana Institute for Artificial Intelligence, a nonprofit organization that will serve as the state’s anchor for AI-driven innovation. The Institute’s first initiative is an AI upgrade program for 5,000 small businesses, equipping them with AI-powered tools to enhance efficiency and competitiveness.
Positioning Louisiana for the Future
“Successfully positioning Louisiana to win demands that we not only attract new businesses but grow new businesses from the ground up,” said LED Secretary Susan B. Bourgeois. “Louisiana Innovation is dedicated to working with startups and existing companies to drive our state’s innovation economy.”
Bourgeois pointed to Meta’s $10 billion Richland Parish data center project as a sign that Louisiana is on the right track.
Building a Connected Startup Ecosystem
The Louisiana Innovation initiative aims to bring together universities, investors, and economic development leaders to create a thriving startup environment. Partners already contributing to Louisiana’s innovation landscape include:
- Ochsner Louisiana’s Innovation Fund
- Tulane University’s Innovation Institute
- The New Orleans Startup Fund
- Innovation Catalyst
- Boot64 Ventures
- The Idea Village
- Propeller
LED is also participating in seven seed capital funds across Louisiana, with plans to expand in 2025.
Empowering Startups Beyond Funding
In addition to capital investment, mentorship, networking, and resources will be critical components of Louisiana Innovation’s mission.
“Facilitating the right connections and offering coaching to innovators and startups are just as vital as the funding being made available,” said LED Chief Innovation Officer Josh Fleig. “Louisiana Innovation will lead the way in creating new events to spark connections within the startup community.”
Notable startup events that will now operate under Louisiana Innovation include:
- Idea Village (New Orleans)
- Opportunity Machine (Lafayette)
- Entrepreneurial Accelerator Program (EAP) and Startup Prize (Shreveport)
Waymo Selects New Orleans for 2025 Autonomous Driving Tour
As part of the Innovation Day event, autonomous vehicle leader Waymo announced that New Orleans has been selected as one of 10 U.S. cities for the 2025 Waymo Road Trip Tour. The initiative will expose Waymo’s autonomous navigation system to diverse driving environments and traffic conditions, further cementing Louisiana’s role in cutting-edge technological advancements.
A Vision for the Future
With LA.IO, the Louisiana Growth Fund, and the Louisiana Institute for Artificial Intelligence, Louisiana is positioning itself as a leader in innovation and high-tech economic development.
For more information on Louisiana’s innovation initiatives, visit OpportunityLouisiana.com.