Minutes 11-17-2015 - Laserfiche WebLink

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We have traditionally received 3 applications per available space at Launch. Selection is made by a selection committee made up of the Entrepreneurs in Residence, Launch graduates, and university and town representatives. The number of companies we are able to accept is based on the size of the teams and the number of seats we have available. As each new class or cohort comes into the program we look to identify both those that are not performing and those that are growing and have secured funding to move out into space in the community." With the original 2012 Interlocal Agreement expiring on December 31, 2015, the small business incubator is now seeking a continuation of support from the County and Town. The proposal is to sign a 2-year lease (January 1, 2016 through December 31, 2017) to fund "Launch" at the current location, and allow the option for a third year (January 1, 2018 through December 31, 2018). This allows some flexibility if UNC, also a financial supporter of Launch, is able to bring together a larger combined space within two years. This proposal outlines a new 3-year economic development relationship where the County and Town continue backing the existing "Launch Chapel Hill" innovation center located at 321 West Rosemary Street in Chapel Hill. The County's total financial commitment to be paid from Article 46's entrepreneurial development category is $120,000 over the next 3 years. The draft Interlocal Agreement (see attachment 2) was prepared by the County Attorney and is similar to the small business incubator's original 2012 Interlocal Agreement. The new document has also been reviewed by the Town's Attorney and will be presented to the Chapel Hill Town Council for review on November 17, 2015. Steve Brantley said the proposed new Interlocal Agreement requires Orange County to contribute $10,000 per quarter for three years, or, a total of$120,000 from January 1, 2016 through December 31, 2018. This is the same level of funding support, per quarter, as approved in the current Interlocal Agreement with Chapel Hill. County funding is provided by Article 46 proceeds and not from the General Fund. PUBLIC COMMENT: Meg McGuirk is the Executive Director of the Downtown Partnership, which is the fiscal agent for Launch, as well as the holder of the sublease of the property. She urged the Board to continue to support this project financially and spiritually. She said in the three years since its inception, 49 start-ups have come through Launch. She said this commitment to start-ups has put the County on the global map for small businesses and their growth. Dina Rousset thanked the Board of County Commissioners for its continued support of Launch, of which she is the Director. She said this project has brought together Orange County, the Town of Chapel Hill, the University of North Carolina (UNC), and a private donor; and as a result, this area is becoming known for start-ups. Commissioner Jacobs asked if the number of start-ups remaining in Orange County is known. Dina Rousset said this information is surveyed at the end of the calendar year, noting that at the end of 2014 about 75 percent remained locally. Commissioner Jacobs asked if staff would help in the survey process, to gather why 25 percent of businesses are leaving. Dina Rousset said they would welcome that assistance going forward. She said one of the main issues is affordability. She said the Economic Development Department is helping in this area. Commissioner Rich expressed her thanks for the hard work and for the staff being so positive with Launch. She said it shows how partnerships can work. Commissioner Pelissier said given the interest with the living wage issue, she would like to see Launch encouraging the start-ups to pay a living wage.