Title
Authorization to Enter Into an Intergovernmental Agreement with Arizona State University for Downtown Phoenix Entrepreneurship and Innovation Programs (Ordinance S-44006)
Description
Request authorization for the City Manager, or his designee, to enter into an Intergovernmental Agreement (IGA) with Arizona State University (ASU) and to enter into any other instruments or documents necessary to support the development of entrepreneurship and innovation programs in downtown Phoenix. The City will contribute $250,000 from the Downtown Community Reinvestment Fund in fiscal year 2017-18. There will be no impact to the General Fund. Further request authorization for the City Controller to disburse the necessary funds.
Report
Summary
The ASU Entrepreneurship + Innovation team's proposed programs are designed to assist Phoenix community-based entrepreneurs with launching, growing and scaling their ventures, and commercializing technologies. The ASU program will also provide the opportunity to enhance learning environments, offering students a location to learn the practical application of coursework while providing the entrepreneur, hobbyist, inventor, and small-business community with access to the tools, services and physical space needed for startup business development. Services available to assist startup businesses will include hands-on instruction, mentorship, and business services such as legal, marketing and operational services. The programs will increase opportunity for connectivity and collaboration, and will leverage existing resources and clusters of active entrepreneurs. Additionally, the programs will increase intensity and attention, by highlighting Downtown Phoenix's assets, enhance the reputation and visibility of Arizona as a leading state to support startups as well as development of an entrepreneurial ecosystem.
Under the terms of the IGA, the ASU programs will use multiple partners and locations including a privately-owned office building located at One North First Street in Downtown Phoenix, which is home to the co-working space, The Department. ASU has already located programs via The Department: Inno-Nations (an incubator for native business owners and enterprises) and the RISN Incubator (an incubator for circular economy businesses). The City will contribute $250,000 towards the physical and programmatic startup costs, including marketing and events programming of ASU at the facilities along with furniture and equipment. Additional funding will be provided by ASU and its partners.
Financial Impact
The $250,000 is available in the Downtown Community Reinvestment Fund in fiscal year 2017-18. There will be no impact to the General Fund.
Concurrence/Previous Council Action
This item was recommended for approval by the Downtown, Aviation, Economy and Innovation Subcommittee on Oct. 4, 2017.
Location
One of the facilities to be used by the program will be located at One North First Street. Other place-based programming considerations are in partnership with other organizations and locations in Downtown Phoenix.
Council District: 7
Department
Responsible Department
This item is submitted by Deputy City Managers Deanna Jonovich and Karen Peters and the Community and Economic Development Department.