New Orleans BioInnovation Center, Inc.
Louisiana Biotechnology Commercialization Accelerator
New Orleans, LA
Venture Challenge
Federal Share: $1,490,771
Local Match: $1,778,416
To accommodate an increase in research and development (R&D) activity and adapt to the new challenges facing the South Louisiana region, the New Orleans BioInnovation Center (NOBIC) will scale its commercialization program focused on innovators developing a broad range of novel technologies. Louisiana’s biotech sector has gained significant momentum since NOBIC opened its facility in 2011. However, this momentum has stalled due to the lack of robust wraparound support services available for researchers seeking to commercialize their technologies. Currently, technical assistance services are limited to researchers developing infectious disease countermeasures within local academic institutions. The enhanced program will accelerate technology commercialization and job growth by helping Louisiana’s health innovators apply for non-dilutive funding, perform customer discovery, mitigate technology risk, leverage support from key stakeholders, build manufacturing, and export their technologies.
NOBIC will establish a streamlined pathway for entrepreneurs in Louisiana to secure contracts for pilot projects within U.S. healthcare systems by partnering with academic healthcare networks. Furthermore, NOBIC will create a new workforce development program that prepares students to step directly into roles within Louisiana’s entrepreneurial ecosystem. Lastly, NOBIC will consult directly with researchers and entrepreneurs and host educational workshops on topics such as trade enhancement and fundraising.
Ultimately, NOBIC will advance the growth of Louisiana's innovation-centric economy, catalyze job growth, and enhance global competitiveness. NOBIC anticipate creating or retaining 650 jobs and attracting $75 million in private capital during the award period.