Project formerly known as RIO rolls on

The Regional Innovation Organization was rolled out by BRAC with much fanfare last year. This summer, RIO’s director was nudged out, as BRAC and the Research Park Corporation—which runs the Louisiana Technology Park and is the project’s major funder—tried to figure out where the organization should go next. The RIO name seems to have been retired, but the project, with help from JumpStart America, rolls on; the RPC board got an update today. The organization, which remains in the startup phase, seeks to help shepherd high-potential companies through the “valley of death” between the idea phase and the point at which they’re ready for angel or venture capital investment, says Steve Berger, senior adviser with JumpStart. The organization’s business plan is being created, and avenues for operational funds—possibly from the state—are being explored. Once the plan is finished and a funding stream is secured, the search for a new director will begin. Next month, Berger wants to start working on getting locals involved in Idea Crossing, which seeks to connect entrepreneurs, experts and potential investors. “We’re really getting down to the last few months where we need to decide whether this is really going to be a go or not go,” says RPC board Chairman Terrell Brown. —David Jacobs