Moving toward implementing the recommendations of an assessment of Baton Rouge’s entrepreneurial ecosystem released earlier this year, the LSU Board of Supervisors will consider a cooperative endeavor agreement between LSU and the LSU Research Foundation at its meeting this morning.
Under the proposed deal, the research foundation will continue leasing from LSU the property for the Louisiana Emerging Technology Center and will take over responsibility for maintenance of that facility, as well as the Louisiana Digital Media Center. It also calls for new collaboration with LSU’s Innovation Park to bring new technologies and products to market, and connect LSU students to businesses.
The research foundation will also spearhead a $2 million buildout, to be paid for by LSU, of the first and third floors of the Louisiana Emerging Technology Center to accommodate the expansion of LSU Online.
The research foundation will collect all rent and revenues generated by the facilities, projected at $1.3 million annually once fully leased, as well as annual support payments from LSU of $600,000. After expenses, the endeavor is projected to generate some $800,000 in net revenue for the research foundation over the next few years.
Overall, LSU expects the CEA to save $1.85 million, as well as help provide a “viable path” to financial sustainability for the research foundation.
The request to the Board of Supervisors for approval cites financial cuts to higher education since 2008, as well as the Baton Rouge Entrepreneurship Ecosystem Assessment conducted by Emergent Method, released earlier this year, as reasons to pursue the deal.
The agreement will end in June 2025 unless the board opts to extend it, although it can’t be extended past 2053.
See the full agenda for today’s LSU Board of Supervisors meeting.
