Posted: Sep 30, 2011 5:58 AM by Lauren Wilson & AP
RUSTON, La. (AP) - Louisiana Tech will get up to $1 million in federal funds to help start-up green technology companies thrive.
The Obama administration named Louisiana Tech as one of six winners for the Commerce Department i6 Green Challenge. The money will help the college set up a new research center to help new products become commercially viable.
Now that its application was successful, Obama administration officials said Thursday that Louisiana Tech could get up to $6 million in additional funding from other branches of the government.
The administration is billing the i6 Green Challenge as an initiative to drive technology commercialization and entrepreneurship to foster a more "green economy."