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| The Louisiana Business & Technology Center at LSU's E.J. Ourso College of Business Administration received one of only 20 $95,000 grants awarded by the Federal State Technology Partnership Program (FAST) of the U.S. Small Business Administration. Due to the SBA award win, LBTC will also receive $75,000 in matching funds from the Louisiana Economic Development Corporation. This is the third year LBTC has been awarded the FAST grant. Forty-two states applied for the grants. The SBA awards FAST grants to promote the Small Business Innovative Research (SBIR) program, which provides resources for small businesses to conduct research that can be used in federal agencies and private business. "This grant is highly competitive, and we are one of the few states who have received this funding all three years of the program," said Charles D'Agostino, executive director of LBTC. "My staff and I worked hard on the proposal and it is a great victory." LBTC will use the grant money to fund outreach and training initiatives for Louisiana businesses. Roughly 10 businesses will receive training on grant writing. The money will also fund staff positions for services like business plan writing and consultation by university faculty and MBA students. Some of the companies who will benefit from the grant include LBTC tenants International Mezzo Systems and CAP Technologies, and a number of outreach clients throughout Louisiana such as NVision Solutions, Planning Systems Inc., Kraemer Sports, Apex Systems and St. Charles Pharmaceuticals. Governor Kathleen Babineaux Blanco designated the LBTC as Louisiana's contact for the SBIR program in Louisiana. Since the LBTC has been involved in the FAST program, which started in 2001, Louisiana has moved from 47th in the nation in grants won to the top 30. Because of this program and the leadership of the LBTC, Louisiana was recently ranked 29th in Department of Defense awards won and 5th in U.S. Department of Agriculture awards won. D'Agostino said, "This program shows Louisiana a $70 to $1 return on investment for state matching dollars invested. In a time of governmental accountability, this program shows a large economic return as well as improving the image of Louisiana in the technical and scientific circles. We have great businesses that can effectively compete for these research grants, and it is our job to find them and assist them in submitting proposals for the awards." The LBTC uses its staff, MBA graduate students and other faculty as needed to assist the companies competing for this large pool of federal research dollars. For more information, contact the LBTC at 225-578-7555. -30- |
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