CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Economic Development
For Meeting of:
October 5, 2015
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Subject:
2015-2016 Funding Agreement with the University of Central Florida Research Foundation, Inc. for the benefit of the National Entrepreneur Center

Summary:

The National Entrepreneur Center (NEC) was created in 2003 through the co-sponsorships of the Small Business Administration (SBA), Orange County Government, Walt Disney Company and the University of Central Florida Foundation, Inc. Located at 3201 East Colonial Drive, within Orlando Fashion Square, the NEC houses twelve (12) service providers/support organizations whose roles are to assist in accelerating local community diversification and high-value job growth, ensure business growth and employment, attract and create new types of companies, and help our citizens prepare for better paying jobs. In addition to the synergy of co-locating service providers, this cooperative approach reduces duplication, while providing clients with the efficiency of a one-stop center for business support and enables each service organization to reduce expenses by sharing the common facilities and resources. The Resource Partners and on-site community partners at the center include:

                 Accion East

       African American Chamber of Commerce of Central Florida

                 Asian American Chamber of Commerce

                 Central Florida Disability Chamber of Commerce

                 Central Florida International Trade Office              

                 Florida Small Business Development Center @UCF

                 Hispanic Chamber of Commerce of Metro Orlando

                 SCORE Orlando

                 UCF Business Incubation Program

                 Hispanic Business Initiative Fund (HBIF)

                 U.S. Department of Commerce – Export Assistance Center

                 National Association of Women Business Owners -  Orlando (NAWBO)      

                 National Black MBA Association Central Florida

To date in FY 14/15, the Resource Partners of the NEC have counseled and trained more than 12,400 Central Florida business people and have helped facilitate more than 45 loans for over $1.45 million, in addition to over $300,000 in alternative capital.  

Additionally, the NEC hosted Small Biz 360, which attracted over 360 attendees for a free, half day of business education featuring nationally recognized speakers; established the Central Florida International Trade Office (CFITO); developed a media campaign to focus on the Center’s resources throughout Florida; and continued to build a national presence on social media, touching over 7500 unique people a day.

The National Entrepreneur Center is committed to leveraging the City's 2015/2016 financial support of $150,000 through their Resource Provider organizations located at the center to achieve maximum impact and continued success for small businesses in Orlando. The Center has been involved in assisting the UCF Business Incubator-Orlando and also serves on the advisory board for the Minority/Women Entrepreneur Business Assistance (MEBA) program.

The National Entrepreneur Center will receive additional funding support in the amount of $220,000 from Orange County.


Fiscal & Efficiency Data: Fiscal Impact statement attached.

Recommended Action:
Approval of the 2015-2016 with the University of Central Florida Research Foundation, Inc. for the benefit of the National Center for Simulation Funding Agreement and authorization for the Mayor to execute the funding agreement subject to the review and approval by the City Attorney's Office.


Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Kim King
Approved By:

Department Date and Time
Budget Outside Routing Approval 9/25/2015 10:23 AM
City Clerk 9/25/2015 11:13 AM

ATTACHMENTS:
Name: Description: Type:
EDV_-_NEC_FIS_(15.16)_(II).docx Fiscal Impact Statement Backup Material
EDV_-_2015-16_UCF_-_National_Entrepreneur_Ctr_funding_agreement_$150k.docx Funding Agreement Backup Material

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