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Louisiana Business Technology Center

From Wikipedia, the free encyclopedia

Louisiana Business & Technology Center
IndustryBusiness Technology
FounderLSU & Greater Baton Rouge Chamber of Commerce
HeadquartersLSU Innovation Park,
Baton Rouge, LA
,
United States
Area served
All of Louisiana
Key people
  • CHARLES F. D'AGOSTINO (Executive Director)
  • KRISTY L. BARLOW (Business Incubator Manager)

The Louisiana Business & Technology Center (LBTC) at Louisiana State University plays an important role to the state's flagship university, Louisiana State University as a part of LSU's Office of Research and Economic Development. LBTC's primary goal is to increase the economic growth of Louisiana by enhancing the development of small businesses and assisting in the development of new businesses. The center is ranked among the top ten entrepreneur programs in the nation. In 1988 it was jointly funded through LSU and the Greater Baton Rouge Chamber of Commerce to foster economic growth in Louisiana by providing businesses with applications and tools necessary for growth and survival in the real world. It comprises the Louisiana Technology Transfer Office (LTTO), the LBTC Business Incubator, and the LSU Student Incubator.[1]

YouTube Encyclopedic

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Transcription

(DANDINA RAO) OUR COMPANY BUILDS VERY COMPACT STEAM GENERATORS, SO COMPACT, IT LOOKS LIKE A STEEL PIPE THAT CAN BE LOWERED DOWN WHOLE INTO AN OIL WELL DEEP DOWN WHERE THERE ARE HEAVY OIL DEPOSITS THAT NEED TO BE HEATED BY STEAM. WE HAVE AN INTERNATIONAL EXPOSURE TO OUR COMPANY JUST BECAUSE OF LBTC, AND WE HAVEN'T PAID A DIME FOR THAT. IT'S FREE MARKETING, AND JUST BECAUSE LBTC HAS SUCH INTERNATIONAL CONTACTS IT USES ALL THE TIME, WE FOUND LBTC TO BE THE MOST COST EFFECTIVE PLACE TO COME TO, AND THE BUSINESS ADVICE WE GOT FROM THEM HAS BEEN JUST TREMENDOUS. (MATTHEW MAGNUSON) WE'RE A COMPANY THAT DESIGNS AND MANUFACTURES ELECTRONIC SENSORS MAINLY FOR THE SHIPPING INDUSTRY, BUT ALSO OTHER INDUSTRIES THAT ARE IN OUR AREA. WE HAVE A LOT OF SYNERGY BETWEEN THE DIFFERENT COMPANIES, AND WE ALSO HAVE SYNERGY BETWEEN THE LBTC AND LSU, WHICH IS WONDERFUL. THE CONNECTIONS WE HAVE WITH LSU HAVE ALLOWED US TO GO OUT AND GET RESOURCES ON THE BUSINESS SIDE AS FAR AS CONNECTIONS IN THE LOCAL COMMUNITY. THE OTHER THING THAT LSU DOES IS IT ALLOWS US TO HAVE ACCESS TO SOME OF THEIR ENGINEERS AND SOME OF THE PROFESSORS, SO WE'RE ABLE TO GET KNOWLEDGE AND TECHNICAL EXPERTISE THAT WE OTHERWISE WOULDN'T HAVE ACCESS TO. (BIN YU) WE PRETTY MUCH AN LED LIGHTING MANUFACTURER, WHOLESALER AND RETAILER IN THE UNITED STATES. A SOCIAL NETWORK IS REALLY IMPORTANT TO A FOREIGNER. I'M FROM CHINA, SO SINCE WE COME TO LBTC, LBTC REFER US LOTS OF CUSTOMERS. THEY HELP US TO BUILD THE TRUST BETWEEN HITLIGHTS AND OUR CUSTOMERS. CURRENTLY, WE HAVE OVER 20 DISTRIBUTORS AROUND THE UNITED STATES. WE'RE BASED ON THE ONLINE COMMERCIAL BUSINESS, AND WE'RE JUST ON FIRE. (PADMA VATSAVAI) OUR FLAGSHIP PRODUCT IS ELECTRONIC MEDICAL RECORDS SOFTWARE SYSTEM, WHICH IS MEDSONIC. I'M, BY TRADE, A SOFTWARE DEVELOPER. SO, BEING A SOFTWARE PROFESSIONAL, I REALLY WAS UNAWARE OF ALL THE THINGS THAT GO INTO OPERATING A BUSINESS SUCCESSFULLY. THEY HAVE REALLY HELPED US TO GROW OUR BUSINESS, TO CONNECT WITH OTHER SMALL BUSINESS OWNERS, AND THEY'VE GIVEN US TREMENDOUS RESOURCES. WE STARTED OUT HERE TO DO ELECTRONIC MEDICAL RECORDS SOFTWARE, BUT THEN, ON THE WAY, WE HAPPENED TO PICK UP OTHER CLIENTS FROM OTHER INDUSTRIES, AND TODAY WE ARE VERY SUCCESSFUL IN PROVIDING SOFTWARE SOLUTIONS ON MOBILE DEVICES. (JASON HUGENROTH) WE DO MECHANICAL ENGINEERING RELATED RESEARCH AND DEVELOPMENT, ANYTHING FROM ADVANCED REFRIGERATION TECHNOLOGY TO ENGINE TECHNOLOGY. THE FLEXIBILITY OF THE SPACE HAS BEEN VERY BENEFICIAL. I STARTED WITH AN OFFICE AND ONE LAB, AND HAVE SINCE GOTTEN THREE MORE ROOMS AS WE'VE GROWN AND NEEDED MORE EQUIPMENT. THINGS LIKE SUFFICIENT POWER TO RUN THE MACHINES WE HAVE, AND COMPRESSED AIR THROUGHOUT THE BUILDING HAVE ACTUALLY BEEN IMPORTANT THINGS FOR US, THAT HAVE KEPT OUR COST DOWN. CONTINUING TO BE SUPPORTED BY THE STAFF OUT HERE, IS A DREAM COME TRUE TO HAVE YOUR OWN BUSINESS AND GROW IT AND GET TO DEVELOP TECHNOLOGIES. ♪ MUSIC ♪

Contents

Background

In 1988, the LBTC began its operations on LSU's Campus as a joint venture between LSU, the Louisiana Public Facilities Authority and the Greater Baton Rouge Chamber of Commerce. The LBTC is currently located at the LSU Innovation Park.

The LBTC has helped Louisiana companies obtain more than $163 million in equity, grants, and loans; has assisted over 6,000 businesses and entrepreneurs; and has graduated 140 companies from its incubator creating 2,278 jobs with 110 of these businesses still in business= 78% success rate.[citation needed]

LBTC Mobile Classroom

In 2005, the LBTC introduced their Mobile Classroom to bring entrepreneurship training to underserved rural areas of Louisiana. The LBTC's Mobile Classroom, aka "Driving Louisiana's Economy," is an 18-wheel truck that contains monitors and equipment, and can seat up to 30 people. Seminars and training classes are held for entrepreneurs and small business owners to learn more about tips and tools for success.[2] The mobile unit has expanded LBTC’s outreach to serve more than 350 businesses annually and fits up to 30 individuals. The Mobile Classroom is able to host seminars and training for technology usage, marketing and financial advice, international trade, and more.

After the disaster that ensued post-Hurricane Katrina and Hurricane Rita, the Mobile Classroom visited impacted disaster areas to provide disaster recovery business counseling to those affected by the hurricane.[3]

Incubator Facilities

The Louisiana Business & Technology Center is located at the LSU Innovation Park (8000 GSRI Avenue Building 3000 Baton Rouge, LA 70820). The incubator provides mail service, office space, building management, internet access, telecommunication services, conference rooms, access to audio visual equipment, professional receptionist, clerical support, technology transfer assistance, knowledge resources, and labs.[4]

Soft Landings at the LBTC

The LBTC was designated a Soft Landings International Incubator in 2011. There are only 23 incubators in the world that hold this title. The National Business Incubation Association (NBIA) Soft Landings designation lets foreign firms know that NBIA, the world's leading organization advancing business incubation and entrepreneurship, has identified an incubator as having specialized programs and/or facilities for helping companies break into new markets.[citation needed]

LBTC Consulting

The LBTC provides consulting in the following areas: international trade, business planning, market planning, financial modeling, accessing capital, as well as training in current business trends, and technology transfer.

The LBTC consists of 9 full-time staff members, 4 of whom, are business consultants, Flores MBA Graduate Students, and LSU Student Workers.

LBTC Economic Contributions
LBTC Economic Contributions

[5]

Louisiana Technology Transfer Office

A subset of the LBTC located at the LSU Innovation Park, originated in 1990 on the LSU Campus. Under the executive order MJF 96-22, LSU must maintain a LTTO at Stennis Space Center to accommodate NASA’s Technology Transfer Program. NASA is one of many technology resource networks including SERTTC and the Federal Laboratory Consortium for Technology Transfer. The LTTO is funded through grants and contracts from Louisiana Economic Development, the Louisiana Board of Regents, NASA and U.S. Small Business Administration.[6]

LSU Student Incubator

The LSU Student Incubator is a place for entrepreneurial LSU Students to launch and grow their business. The LBTC assists students in the development of their business plan and helps with various aspects from marketing to funding. In addition to consulting, the LBTC provides a 1200 square foot co-working space for exclusive use by student incubator tenants with the standard functionality of a regular office space.[7] In addition to space, the LBTC hosts an annual business plan competition, the Venture Challenge,[8] for its student incubator tenants. The last competition, held on April 20, 2012, offered $20,000 to the top four companies including: PhycoGenesis, Yellow Jacket Case, LocalMed, and Bluereach.[9] Notable Companies from the incubator: Big Fish Presentations,[10] Yellow Jacket,[11][12] BlueReach,[13][14] and HitLights LED.[15]

References

  1. ^ "Archived copy". Archived from the original on 2002-08-09. Retrieved 2011-11-02.CS1 maint: archived copy as title (link), Louisiana Business Technology Center
  2. ^ [1]
  3. ^ [2], Mobile Entrepreneurship Program Article
  4. ^ [3]
  5. ^ [4], Louisiana Business Technology Center's Economic Impact
  6. ^ [5], Louisiana Technology Transfer Office
  7. ^ [6], Student Incubator Overview
  8. ^ [7], Venture Challenge Rules & Info
  9. ^ [8], Advocate Article on Venture Challenge
  10. ^ [9], Big Fish On The Rise
  11. ^ [10], iPhone Case Doubles as Stun Gun
  12. ^ [11], iPhone Case with Stun Gun
  13. ^ [12], BlueReach Graduates from Incubator
  14. ^ [13], Student Incubator company of the year
  15. ^ [14], LSU's Incubator Adds Four New Tenants, Graduates One

External links

This page was last edited on 24 September 2019, at 06:29
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