Luise was born in Vienna, the daughter of Louis Veltée, proprietor of the city panopticon, descended from a family originating in Lyon, who had settled in Austria in the early 19th century.
In January 1910, she and her first husband, Anton Kolm, along with the cameraman Jacob Fleck and her brother Claudius, set up the Erste österreichische Kinofilms-Industrie, the earliest significant film production company in Austria, with financial support from a number of sources, including Luise's father.
Wiener Kunstfilm was obliged to dissolve, but Anton Kolm was able to re-structure its finances and relaunch the company as Vita-Film in 1919.
When in 1938 the National Socialists also took power in Austria in the Anschluss, and control over the Austrian film industry passed virtually overnight into the hands of the Reichskulturkammer, there was no more work for them.
In 1913 were premiered her works as director and producer "Der Psychiater" ("The Psychiatrist") and Das Proletarierherz ("The Proletarian Heart").
[5] During World War I, she directed the pro-Habsburg propaganda dramas Mit Herz und Hand fürs Vaterland ("With Hand and Heart for the Fatherland") (1915) and Mit Gott für Kaiser und Reich ("With God for Kaiser and Reich") (1916).
She also made use of Austrian literature in Die Ahnfrau ("The Ancestress"), based on the play of the same name by Franz Grillparzer, and Lumpazivagabundus, both from 1919.
From 1911 to 1922, the year in which her husband Anton died, Luise is known to have directed over 45 films, and the number may have been considerably higher.