TITLE
Recommendation to authorize City Manager, or designee, to execute documents necessary to enter into a partnership agreement with Startitup Technologies, a for-profit organization, in Pasadena, CA, to develop and test a mobile platform to provide small business entrepreneurs with training, mentoring, and funding necessary to accelerate their business in the City of Long Beach. (Citywide)
DISCUSSION
City Council approval is requested to enter into a partnership agreement with Startitup Technologies (Startitup). Startitup provides entrepreneurs with mentors and other resources such as educational classes to better prepare them for launching their business. Startitup uses a modular mobile-based platform, offering a range of relevant and practical resources to aspiring entrepreneurs. The agreement will allow City staff to continue working with Startitup to test and promote the mobile application to local small business entrepreneurs The platform consists of three levels of assessments, including: (a) psychometric attributes, (b) business skills, and (c) business idea viability. The platform also provides a powerful combination of interactive and scalable mentoring programs and social networking, coupled with industry specific training.
The City’s partnership with StartitUp serves as an example of government acting as an investor to stimulate the creation and formation of new technology and new businesses. StartitUp is working closely with the Business Improvement Districts (BIDs), in a three-month pilot program that started in early January with the first cohort of participants from the Uptown area.
This matter was reviewed by Deputy City Attorney Richard F. Anthony on January 31, 2018 and by Budget Analysis Officer Julissa José-Murray on February 1, 2018.
TIMING CONSIDERATIONS
City Council action is requested on February 20, 2018, to allow the partnership agreement to be executed in a timely manner.
FISCAL IMPACT
The City has committed $25,000 for the initial development of the mobile application used by pilot program participants. Funds committed to the project include $12,500 from the General Fund (GP) in the Economic Development Department (ED) and $12,500 from the General Grants Fund (SR 120), offset by funds from the Bloomberg Innovation Grant in the City Manager Department (CM). There is no additional fiscal impact anticipated for this partnership agreement. While the purpose of the partnership is to promote the creation and growth of local small businesses, the impact to local job creation is unknown at this time.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
JOHN KEISLER
DIRECTOR OF ECONOMIC DEVELOPMENT
APPROVED:
PATRICK H. WEST
CITY MANAGER