Louisiana Economic Development (LED) has launched a new program that encourages research-focused start-ups to keep their businesses rooted in Louisiana by making supplementary state funding available to recipients of federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. The Louisiana Innovation Retention Grant (IRG) program offers awards of up to $100,000 for eligible businesses. Applications will be accepted starting Tuesday, August 15, 2023. “Growing and diversifying our economy requires both attracting established businesses to Louisiana and supporting the bold entrepreneurs who start new businesses here,” Gov. John Bel Edwards said. “The funding that the Legislature authorized to establish the Innovation Retention Grant program is money well invested in making sure that future-focused businesses born in Louisiana, stay in Louisiana.” Established by the Louisiana Legislature in 2022, the IRG program seeks to: Help Louisiana support and retain STEM start-up companies and their talented workers.