Title
Planning and Building Department, Economic Development Division, recommending the Board consider the following:
1) Receive and file an update on Policy J-9, Startup and Entrepreneur Technical Assistance Program;
2) Receive and file brief presentations from six selected El Dorado County Startups and Entrepreneurs eligible for funds under Policy J-9;
3) Award J-9 awards to six eligible Startups/Entrepreneurs, in a cumulative amount of $172,500;
4) Approve use of the J-9 Funding Agreement template; and
5) Delegate authority to the Planning and Building Department Director to execute J-9 awards and all other documents necessary to award J-9 funds.
FUNDING: Discretionary Transient Occupancy Tax. (General Fund)
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DISCUSSION/BACKGROUND
The purpose of Policy J-9, Startup and Entrepreneur Technical Assistance Program, is to provide funding for the technical assistance to El Dorado County Startups and Entrepreneurs applying to enroll in regional or local accelerator/incubator programs that serve El Dorado County. The primary focus for technical assistance incentives is on business sectors that generate high economic impact through job creation, high wage offerings, large capital investments, high export value, or that provide a variety of employment opportunities for County residents, with priority given to existing businesses seeking to expand and remain in El Dorado County.
The Planning and Building Department, Economic Development Division and The Growth Factory have collaborated with key partners in the region to source, screen, and select El Dorado County Startups and Entrepreneurs that meet the criteria and are eligible for funds under Policy J-9.
Application and Review Process: Following social media publications, email outreach, invitations, and a dynamic launch event, the Department and Growth Factory received twenty-five (25) applications from aspiring startups seeking J-9 funds for accelerator support. Subsequently, the Department and Growth ...
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