STEP ONE VENTURES
BRAC understands the importance of creating a culture that deeply fosters and supports entrepreneurship throughout the Capital Region after the completion of a regional innovation strategy. The Baton Rouge area offers new startups many quality options for locating their startup in a physical environment. Promising companies with great technologies, management, and new approaches to problems fail regularly due to limited or no access to the seed and growth capital they need to survive. BRAC has actively worked toward the creation of Step One Ventures, a proposed organization whose mission will be to identify and coach high-potential entrepreneurs and make seed investments toward their company formation. It will do so in close coordination with the region’s existing service providers and incubators, in order to make the region’s entrepreneurial ecosystem more accessible to these startups. The plan for Step One Ventures follows a model from Cleveland, Ohio called Jumpstart, Inc., and was developed in part through a grant to BRAC from the U.S. Department of Commerce’s Economic Development Administration (EDA).