Creating an innovative and collaborative startup community for young and growing companies is a commendable goal for any region. In Northwest Louisiana, BRF and its Entrepreneurial Accelerator Program (EAP) have been diligently working toward this goal for the past 10 years. However, it’s crucial to understand that such a transformation doesn’t happen overnight, nor can it be achieved by a single company or institution. It requires a concerted effort where entrepreneurs, investors, universities, mentors and local officials collaborate toward a shared vision. When these diverse stakeholders work together, there are no gatekeepers or a singular source of business development driving results.
Dave Smith, Executive Director of EAP, aptly summarized this approach: “The best thing for a community dedicated to entrepreneurial development and building a startup community is to have a network of entities working together in a smooth and cohesive way. That’s why we created the Launch Network, nearly 100 individual organizations that support local businesses’ efforts to launch and grow.” This extensive network underscores the many resources available to assist with new business ventures. Local universities support entrepreneurial engagement, while local businesses foster a collaborative spirit, providing mentorship and partnership opportunities. Non-profits and local government also promote business development through policy initiatives, incentives and infrastructure improvements.
Consider the local library systems: they offer free access to research materials and business resources, host events and provide training for starting new businesses. Libraries often collaborate with local experts to offer workshops on essential skills like business planning, marketing and financial management. The Chamber of Commerce is another vital resource, with its mission to promote economic prosperity, serve as a business advocate and celebrate regional achievements. It facilitates networking events, provides advocacy at the local and state levels, and offers resources such as business directories and market research. Success in a startup community happens when a new entrepreneur is connected to the people who can help them thrive the most and then are championed, celebrated and supported by the community they serve.
Northwest Louisiana boasts numerous advantages that make it an ideal place to start a business. The low cost of living, coupled with a high quality of life and community engagement, provides a supportive environment for startups. When it comes to starting a business, you can expect lower startup costs compared to higher population centers. Our centralized geography offers excellent access to a broad customer base. The region’s interconnected infrastructure, including interstates, railways, airports and river systems, facilitates efficient and effective transportation of goods.
Looking ahead, key industries poised for growth include defense and manufacturing. With Air Force Global Strike Command (AFGSC) headquartered at Barksdale Air Force Base, there is a significant opportunity for innovative startups to meet the military’s diverse commercial needs. The proximity to expanding Texas and Gulf Coast markets positions Northwest Louisiana as a powerhouse for the production and transportation of goods throughout the Southern USA. Combined with lower business costs and a skilled local labor market, the region is an attractive location for manufacturers. Over the next few years, more companies may establish their headquarters in Shreveport, becoming leaders in their industries and contributing to the community’s well-being.
“In the first 10 years of the accelerator, there has been a lot of learning with some really great successes,” said Smith. “Over the next 10 years, we will continue to work with our partners to support local entrepreneurs and launch more innovative companies, keeping bright and intelligent people here at home in North Louisiana, and making this area a more attractive place to live and do business.”
BRF has been instrumental in supporting initiatives to diversify and enhance the economic landscape of Shreveport and Northwest Louisiana. Some of those initiatives include the Center for Molecular Imaging and Therapy (CMIT), Digital Media Institute (DMI), Omicron Technology Solutions and various defense industry projects, along with numerous EAP-launched companies. The EAP has played a crucial role in identifying high-potential startups and providing them with the necessary resources, including capital, mentorship and strategic guidance. This ecosystem approach ensures that startups are not only launched but also sustained and scaled effectively. Successful startups contribute to the local economy through job creation, increased economic activity and the development of new industries. They also inspire future entrepreneurs, creating a cycle of innovation and growth. The future looks bright as these efforts continue to build a robust, supportive and innovative ecosystem that benefits the entire region.
The EAP is made up of a team of financial analysts committed to helping launch startups in North Louisiana. The EAP team helps young companies in many different respects. If you have an idea for a startup company or an invention and are looking for help to launch, look no further than Shreveport’s own EAP. Visit eapla.com to learn about upcoming workshops and events. Learn more about Launch Network at launchnetworkla.com.
William Anderson-EAP Financial Analyst
