NOLA.com / The Times Picayune
The Baton Rouge Area Chamber released a report exploring the state of entrepreneurship and innovation in the Baton Rouge area.
Released the week before Baton Rouge Entrepreneurship Week 2014, “The State of Innovation and Entrepreneurship in the Capital Region” includes inventions, patents, education and technology transfer happening in the Baton Rouge area.
“This report is a simple document to help citizens gain more understanding about the strength of entrepreneurship and innovation in our region. Innovation is the linchpin of knowledge-based economies, such as those with significant investments in research and development,” said Adam Knapp, president and CEO of BRAC. “Regions driven by innovation benefit from increased productivity, a competitive edge on domestic and international rivals, and the ability to grow high-wage, high-tech jobs.”
The report shows the efforts that have been made over the last few years to support the innovation economy.
Boasting a network of multiple support organizations and resources for innovation, the Baton Rouge area is home to the LSU Student Incubator, Louisiana Business and Technology Center Incubator, and Louisiana Technology Park Incubator, which combined provide business consulting and mentoring services to more than 85 local start-ups and entrepreneurs.
BRAC notes that since 2009, the Baton Rouge Area experienced a higher rate of business growth and expansions than peer southern metros, including Austin and Nashville.
The report also shows number of degrees and certifications in innovation fields, those that directly relating to innovation and entrepreneurship such as computer science, engineering and management, have increased by almost 20 percent since 2009.
Other highlights from the report include:
- The Baton Rouge area has experienced 42 percent growth in patents issued since 2009.
- In the past ten years, the total number of businesses in the Baton Rouge Area has grown by nearly 27,000, and increased by over 6,000 just since 2009.
- LSU’s Louisiana Agricultural Experiment Station brought in over $53 million since 2009 from the commercial development of Ag Center technology.
- Southern University’s Center for Energy and Environmental Studies (CEES) has created the Southern Laboratory Alliance to expand its laboratory capacity from two on-site analytical laboratories to over thirty, located across the nation.