New Orleans BioInnovation Center, Inc.

The New Orleans BioInnovation Center (NOBIC) will form a new investment vehicle, the Louisiana Research Venture Fund, to provide early-stage capital and follow-on investments to businesses throughout Louisiana. This project will primarily focus on creating a strategy for and implementing the new seed fund that will provide essential seed capital to innovation-based, high-growth businesses headed by Louisiana research institution faculty, staff, students and alumni, with a focus on biotechnologies. Furthermore, the project will provide diverse education opportunities for students in local universities, and will be an active participant across the Louisiana entrepreneurial ecosystem. The new fund will leverage NOBIC’s significant technical expertise, educational resources, and national network of industry professionals, allowing fund portfolio companies access to office and lab space, and pro bono business technical assistance. The fund is expected to raise $15 million from individual and institutional investors within the three-year project timeline, and fund 25 university ventures.