Explanation
This ordinance authorizes a contract for $20,000.00 between Columbus City Council and the Center for Innovation and Entrepreneurship at The Ohio State University.
Columbus City Council will partner with the Center for Innovation and Entrepreneurship to conduct a pilot program, wherein students and faculty from The Ohio State University will work with a pair of local businesses and non-profit organizations to provide management analysis, market research, and recommendations for organizational growth and expansion.
To further diversify the economic development of the city, Columbus City Council intends to promote entrepreneurship and small business development, particularly among female- and minority-owned enterprises. These small businesses often struggle to access the kind of industry analysis, expertise, and financial tools that are readily available to larger businesses. The intention of this pilot program is to provide access to those kinds of services to businesses that would otherwise face challenges in making the organizational decisions necessary to achieve strong growth.
The Center for Innovation and Entrepreneurship at The Ohio State University facilitates entrepreneurial and innovation-based learning and experiences that will impact the global economy by assisting in new company formation and the development of new products and services within existing businesses. By virtue of being an academic center, the office is able to utilize resources throughout the university, creating an interdisciplinary environment that fosters creative approaches to commercial development.
The funding will provide the resources necessary for the Center for Innovation and Entrepreneurship to assemble the team of students and faculty, derive a process for interacting with the organizations in the pilot iteration, and develop the materials necessary for executing the pilot phase.
Fiscal Impact: Funding is available in the Jobs Growth subfund.
Emergency action i...
Click here for full text