Research Park Corp. extends funding for RIO

The Research Park Corporation’s board of directors voted unanimously today to fund the local Regional Innovation Organization at $250,000 for another year. The RIO is supposed to improve the climate for entrepreneurs by improving access to early-stage capital and other resources. RIO Director Terry Jones last month submitted his resignation under pressure. BRAC said at the time that Jones would continue with RIO through the transition to a new director; Jones did not attend today’s meeting. RPC board members said today that they would like to make the next RIO head also the CEO of the RPC, which oversees the Louisiana Technology Park on Florida Boulevard. Representatives of JumpStart America, a nonprofit which is helping to stand up the RIO, says merging the two positions would not jeopardize a $429,000 federal grant for RIO, as long as the person selected works for RIO full-time during the one-year partnership with JumpStart. The $250,000 from RPC, along with $179,000 from the Baton Rouge Area Chamber, constitutes the local match for the grant. Part of RIO’s mission is to direct entrepreneurs to the appropriate resources, including business incubators. BRAC President Adam Knapp says that, even though the RPC is associated with the tech park, it would not represent a conflict of interest to imbed RIO with the RPC, because RPC’s mission has always been to serve as an umbrella organization promoting regional entrepreneurship. —David Jacobs