Louisiana Tech Brings Researchers, Benefactors Together to Support Entrepreneurship
The Louisiana Tech University Research Foundation’s Innovation Enterprise Fund awarded a total of $50,000 in grant funding to start-up companies commercializing university-owned technologies during a luncheon on Tuesday at Louisiana Tech’s Biomedical Engineering Building in Ruston.
The Innovation Enterprise Fund was established to strengthen new businesses by helping them to bridge early-stage funding gaps.
Members of Tech’s Research Foundation as well as several university benefactors gathered to recognize the recipients and to receive updates on research accomplishments and entrepreneurial activities.
“Private investment in support of our innovative faculty and students is essential for helping them cross critical funding gaps,” said Les Guice, vice president for research and development at Louisiana Tech. “These investments enable university-connected companies to hire and retain our graduates.”
“Some of these companies have potential for high growth which could lead to significant economic development in the community.”
Companies receiving grants include:
Red Box Technologies: developing a show power-generator for military intelligence applications and eventually broader commercial applications.
Nano-Pulp and Paper: in collaboration with the Stephens Paper Mill Company, developing a new "green" roofing felt using 100% recycled paper fibers.
S2S Tutor: educational services company employing an innovative model for student tutoring, mentoring, support, and development.
Plutonyx: developing novel applications for geopolymer concrete including a geopolymer grout for lining geothermal wells.
Each of these companies is based in Ruston and is hoping to realize their high-growth potential while headquartered in the community.
Ranging from $10,000 to $25,000, grants were awarded based on the development of businesses commercializing university intellectual property as well as those ventures deemed eligible for occupancy in Louisiana Tech’s Enterprise Center based on their association with the university.
The recipients are businesses that have demonstrated a potential to have significant and sustained economic impacts in north Louisiana.