BRAC’s RIO gets federal funds to forward its development

The Baton Rouge Area Chamber’s Regional Innovation Organization has been awarded a $429,000 grant from the U.S. Economic Development Administration. The grant is to support the development of RIO, working in conjunction with JumpStart Inc., a nationally recognized nonprofit venture development organization. Launched as part of BRAC’s latest five-year campaign, The Creative Capital Agenda, RIO was created to advance regional economic development capabilities. RIO works in partnership with a number of entrepreneurship-supportive entities, including the Research Park Corporation, the Louisiana Technology Park, LSU, the Louisiana Business and Technology Center and the Louisiana Emerging Technology Center. The development of RIO is a multiphase process, currently in the first phase, which includes developing an in-depth inventory of the region’s strengths and areas of opportunity. Next, JumpStart will help the region prepare a regional entrepreneurship action plan targeting the community’s most promising opportunities with a combination of capital and expert entrepreneurial assistance, according to a release today announcing the grant.