As part of its overall mission, the City of Austin is committed to pursuing economic development policies that enhance local prosperity. Emerging technology is an important piece of that equation that builds on Austin’s comparative advantages. The City is in a position to more directly influence the future of the local economy in part through its economic developmentpolicies, including those focused on emerging technology. Examples of emerging technology sectors include, but are not limited to:
• Digital Media • Wireless • Clean Energy
• Biotechnology and Life Sciences • Nanotechnology • Early-stage commercialization in other technology sectors
This list is dynamic, and will evolve over time. The City of Austin’s role is to serve as a mediator andcollaborator, bringing together all of the groups devoted to improving the economy for emerging technologies. The work includes leveraging those assets through passing along information to the general public and among organizations, and assisting those organizations where appropriate to achieve their goals. Mature firms are supported largely through the City’s existing policy framework. However, theCity recognizes that firms at the early stages of commercializing emerging technology often require additional support, separate from that offered through existing policies.
The City serves as a clearinghouse for resources available to emerging technology firms, directing them to appropriate resources as needed. The Small Business Development Programprovides business support and educational programs to small emerging technology firms. Examples of such training and workshops include business start-up orientation, best practices sessions, targeted sessions on loan programs, BizEd services such as accessing capital, business taxation and business law, and the Space Alliance Technology Outreach Program to provide technical assistance from NASAscientists to small firms free of charge. New alliances may be formed with those private organizations or firms which have a proven track record of success assisting emerging technology firms, or those which are reasonably expected to have significant success assisting such firms.
FINANCIAL RESOURCES DEVELOPMENT
The City utilizes its incentive policy to support those emerging technology firms thatbring added value to the local economy sufficient to warrant financial incentives. The City collaborates with private firms and organizations to attract financial investment from the state and federal governments, notfor-profits, and private sources, such as venture funding, angel investments, and grants.
The City of Austin collaborates with private firms and organizationsto produce and implement market development strategies to support the emerging technology sectors. Potential strategies include, but are not limited to: • • Marketing and promotion of Austin as a center for technology development. Promotion of and participation in regional conferences dedicated to technology industry development and commercialization. Support for and collaboration with researchand technology incubators and other facilities to promote the state of technology advancement and support individual business success.
The City collaborates with regional higher education institutions to foster the creation of degree and certificate programs necessary to support emerging technology industries, as well as strategies to support an adequate pipeline of futureworkers. The City pursues strategies to support its technology workforce, including affordable workforce housing, live/ work space and promoting cultural and urban amenities to attract and retain a high quality workforce.
PERFORMANCE EVALUATION PROCESS
• • • • Regularly evaluate the success of and additional need for educational workshops and training programs. Update offerings to meet...