Explanation
This ordinance authorizes the City Clerk to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group (The U) to support the organization’s Urban Launch School small business accelerator program.
The U was established in 2019 with the goal to become the front door for entrepreneurs of color aspiring to create and build sustainable small businesses. Their mission is to close the educational, resource, and digital divide for urban and lifestyle entrepreneurs while eliminating the fragmentation of access to all the above. Their approach to closing these divides is by helping foster the development of a thriving, culturally competent Entrepreneur Support Ecosystem. The U is a safe space where urban entrepreneurs can operate above systematic barriers to gain resources, education, and tools to build and sustain their businesses. The U works to bridge the access gap by ensuring awareness of resources, providing education, collaboration, and engagement for black and brown owned start-ups and lifestyle businesses.
The Urban Launch School program is a 10-week accelerator for black and brown entrepreneurs. A spring accelerator and fall accelerator are planned for 2022, with an anticipated 10-15 graduates from each semester’s program. The 10-week program walks participants towards a business launch, culminating in a pitch competition and micro-grant awards. In addition to the curriculum, participants are provided with branding and logo design support, legal support as needed, one-on-one business plan development services, and confidential peer group sessions.
The support of Columbus City Council will provide for micro-grants to the winners of the pitch competition, as well as providing general programmatic support.
Fiscal Impact: Funding is available within the Job Growth subfund.
Title
To authorize the City Clerk to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group, to support of the organization’s Urban Launch School small business accelerator program; and to authorize an appropriation and expenditure within the Job Growth subfund. ($20,000.00)
Body
WHEREAS, the Urban Business Development Center, dba Urban Investment Group provides culturally competent entrepreneurial support and operates the Urban Launch School for black and brown entrepreneurs; and
WHEREAS, Columbus ranks below the national average in terms of its share of women, Black, Hispanic or Latinx-owned businesses; and
WHEREAS, the Urban Launch School accelerator program will support 20-30 entrepreneurs in the creation and launch of a business plan in 2022; and
WHEREAS, it has become necessary in the usual daily operation of the Clerk's Office to authorize the Clerk to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group, to support of the organization’s Urban Launch School small business accelerator program NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Clerk is hereby authorized to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group, in support of their Urban Launch School.
SECTION 2. That the City Auditor is hereby authorized and directed to appropriate $20,000.00 in the Job Growth subfund, fund 1000, subfund 100015, to the City Clerk per the accounting codes in the attachment to this ordinance.
SECTION 3. That the expenditure of $20,000.00 or so much thereof as may be needed pursuant to the action authorized in SECTION 1 of this ordinance, is hereby authorized in the Job Growth subfund, fund 1000, subfund 100015 per the accounting codes in the attachment to this ordinance.
SECTION 4. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.